carpenter working

Open up to new possibilities

Find room to grow with a business construction loan.


What factors do you consider when deciding whether to approve a business loan?

A good business plan, developed in partnership with a CPA, can demonstrate that you understand the strengths of your operation and have a realistic view of your prospects. A good credit rating—both yours and your company’s—is a must. While having collateral is important, you should also be able to demonstrate that you have the revenue to repay the loan. 

I’m starting a new business. What can I do to improve my chances of being approved for a loan?

Establishing a business line of credit and paying it off is a good way to demonstrate that you are a responsible borrower. It’s similar to having a credit card, but the interest rate is generally much lower. Before approving your application, we look at your credit rating, how long you’ve been in business, and how much revenue you earn. Even a modest line of credit is a good place to start—and won’t require you to provide collateral.