The Bank of Sullivan offers business loans for all of your business needs, whether it is to purchase real estate, equipment, or to establish a line of credit for working capital, we have the products available for you. In some cases we work closely with government agencies for more favorable terms to better serve your needs. The following are two of the agencies we work with:
SBA – The Bank of Sullivan is able to offer a wide variety of products with the assistance of the Small Business Administration, including the SBAExpress loan guarantee. The Bank of Sullivan is an approved Express Lender that allows for a quicker response time. For more information about the products the SBA offers, please view their website at www.sba.gov.
EDC – The Bank of Sullivan also works with the Economic Development Centers who assist the SBA, in the 504 loan program. The 504 loan program is most commonly used in the acquisition of real estate or equipment for the start-up of your business. With this program, the Bank of Sullivan will have a first lien position on the asset being acquired while the EDC holds a junior lien on the asset. For more information about the 504 loan program view their website at http://www.edcstcharlescounty.com.