Credit Services

Business Loans and Lines of Credit

These days, banks can take your money but they can't dish it out. Many qualified customers find themselves cut off from business loans when they need them the most.

Fortunately, your partner is BankCherokee, the bank that's been doing business in this community for over 100 years. We have money to lend so you can grow your business or improve your cash flow.

Working Capital Line of Credit

When new business opportunities present themselves, or when you have cash flow concerns, you need to be able to respond quickly. Lines of credit give you the flexibility to write yourself a loan immediately.

A Working Capital Line of Credit can be used to finance accounts receivable or inventory purchases. This revolving line of credit features a variable interest rate and convenient payment terms.

Equipment and vehicle financing

A business installment loan can be used to finance long-term working capital, debt consolidation or equipment purchases such as manufacturing, printing and office equipment, or vehicles.

Other Credit Services

Our business banking services also include letters of credit, building acquisitions or refinance, revolving lines of credit and short-term, asset-based lines of credit.

Our lenders are always available to discuss your needs. Call us at 651-312-2030 or Contact Us to set up an appointment today.

Real Estate Loans

A real estate loan from BankCherokee is more than a transaction. It’s a relationship. Once we understand your business and its cash cycle, we can structure a loan to match it. The process is easier and more flexible than you’d experience at a larger bank.

Our real estate loans are ideal for long-term financing of owner-occupied commercial real estate and non-owner-occupied investment properties. They can be used to purchase office/warehouse space, apartment buildings or other commercial real estate, to finance interim construction or a permanent mortgage, or to refinance existing real estate debt to lower interest rates or to recapture equity.

BankCherokee is also proud of its record in lending to churches and non-profit organizations. We can customize our real estate loans to the needs of your organization. Our lenders can offer you quick approval and a flexible structure that works for your business.

A business installment loan can be used to finance long-term working capital, debt consolidation or equipment purchases such as manufacturing, printing and office equipment, or vehicles.

Call us at 651-312-2030 or Contact Us to set up an appointment today.

Small Business Administration (SBA) Programs

The SBA offers a number of programs to help small businesses get started or expand. BankCherokee's lenders are very familiar with these programs and can help you determine whether you qualify.

504 Certified Development Company Program

The SBA 504 program can dramatically reduce your down payment on major fixed assets such as land or buildings. Through the program, your BankCherokee loan covers 50% of the purchase price and the SBA loan covers 40%. Your business pays the remaining 10%, which may even be covered by outside investors or donations

7(A) Loan Guaranty Program

The 7(A) Loan Guaranty Program is one of SBA's primary lending programs for small businesses unable to secure financing for long term working capital, equipment or commercial real estate. BankCherokee provides the loan, which is, in turn, guaranteed by the SBA.

Interest rates may be fixed or variable. Maximum loan maturities are 25 years for real estate and equipment, and 7 years for working capital.

Call us at 651-312-2030 or Contact Us for more information and help with the SBA loan application process. More information on SBA loan programs is available from the local SBA office or at www.sba.gov/financing.

Leasing Services

Which is the right product for a business needing to finance equipment: a lease or a loan? The answer depends upon your unique situation. A BankCherokee business banker can help you analyze your situation and tailor the loan or lease that is right for you.

Here are some of the leasing options BankCherokee offers:

  • EZ Tech Lease
  • Pre-Owned Equipment Lease
  • Unlimited Miles Commercial Vehicle Lease
  • Industrial Equipment Lease
  • Medical Equipment Lease

Contact a business banker today at 651-312-2030 or Contact Us to find out if a lease is right for you.

Personal Financial Statement

Click here to download the Personal Financial Statement in PDF format.

MetroIBA

MetroIBA is a non-profit alliance working to strengthen and promote locally-owned, independent businesses. Click here