Real Estate Secured Business Loans
Have a need to purchase or construct a new building or refinance your current mortgage? Fortune Bank has a wide variety of real estate loans for all of your business needs that include owner-occupied or investment real estate. Loan to value maximums, terms and amortizations vary depending on the type of property you are buying. If you need flexibility in your project, we offer a wide range of financing options.
Business Installment Loans
When your business needs to make a large purchase, Fortune Bank offers a wide range of installment loans for purchases of both new and used items with various amortizations and terms. This product gives you the flexibility to secure your loan with the item you are buying or by pledging other collateral such as stocks, cash, vehicles, etc.
If you have a need for refinancing your current equipment or buying new or used equipment for your business, this product may be right for you. You or your business can borrow up to 80% of the purchase invoice on new equipment or 75% of the depreciated book value or purchase invoice on used equipment. Depending on the age of the equipment, terms and amortizations are available up to 5 years.
Lines of Credit
Fortune offers lines of credit for you and your business needs. The typical term is one year with interest-only payments required monthly. Your line of credit can be secured by a wide variety of collateral such as real estate, equipment, stocks, cash or company assets like accounts receivable or inventory. Advance rates vary depending on the type of collateral being pledged.
Just starting out in business or lacking the necessary funds to purchase equipment or real estate? Fortune works closely with the SBA to help you make your project a reality. SBA loans give you more flexibility when getting started or expanding your current business.