The Sullivan Bank 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 Sullivan Bank is able to offer a wide variety of products with the assistance of the Small Business Administration, including the SBAExpress loan. The Sullivan Bank is an approved Express Lender that allows for a quicker response time.
EDC – The Sullivan Bank 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 Sullivan Bank will have a first lien position on the asset being acquired while the EDC holds a junior lien on the asset.