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Small Business Loans and Credit

Whether you are a small business with plans for buying equipment or have short term cashflow needs, Anchor Bank has the resources your organization needs to take that next step. You have ambitious goals for your business and our team is here to help you meet them. Learn more about the financing options we provide up to $500,000.

Lines of Credit

A working capital line of credit is a fast, convenient, and affordable way to access the funds your business requires. A line of credit provides ready cash to help you meet short-term funding needs, such as increasing inventory, dealing with seasonal cash flow issues, or taking advantage of unexpected opportunities.

How it works for you
• Anchor provides your business access to working capital at a reasonable cost.
• You can borrow the amount that you need when you need it.
• You can access your line by writing a check or making a phone transfer to your Anchor Bank business checking account.

Key benefits to your business
• You only pay interest on the outstanding principal balance each month.
• Fast and convenient access to the credit line.
• Use for important business opportunities and short-term funding needs.
• Link to your business checking account to minimize interest expense and overdraft fees.
• Loan amounts up to $10 million

 

Term Loans

Term loans are an excellent solution for many borrowing needs. With a term loan, your business can repay the loan over a specific period of time (term) with set monthly payments. Whether you require new or upgraded equipment, extended working capital or plan to expand your business, a term loan is an easy way to get the money you need quickly.

How it works for your business
• Talk to a Business Banker to determine the loan that’s right for your business
• Finance the purchases you need to grow your business

Key benefits to your business
• Low monthly payments at fixed interest rates
• Predictable payment amounts to help forecast your cash flow needs
• No hidden fees
• Loan amounts up to $10 million
• Up to 10 year amortization

 

Real Estate Loans

Our Commercial Real Estate Mortgages make owning, refinancing, or renovating commercial real estate easy and affordable. With either our conventional or SBA programs, you’ll benefit from flexible financing options that include competitive rates, low monthly payments and long amortizations.

How it works for you
• Contact a Business Banker to structure a loan that meets your unique loan needs
• Use your mortgage to refinance or renovate your commercial real estate key 

Key benefits to your business
• Low monthly payments
• Flexible down payment requirements
• Loan amounts up to $10 million
• Up to 25-year amortization
• Competitive fixed or variable rates
• Flexible owner-occupancy requirements

 

Credit Card

Are you looking for a rewards card that earns automatic bonus points on every purchase every month? Or maybe you prefer a card to pay down your balances on other credit cards faster or to save on interest. Whatever your needs, we have a credit card that's right for you!

Learn more about our small business credit card options

 

Visa® Business Bonus Rewards Card  

  • Get 25% more on all points earned every month, automatically1
  • No caps or limits on points earned
  • $25 cash back with your first purchase
    Apply Now

Visa® Business Bonus Rewards PLUS Card

  • Get a 50% bonus on all points earned every month, automatically2
  • No caps or limits on points earned
  • $50 cash back with your first purchase
    Apply Now

Visa® Business Card 

  • Our best introductory APR offer
  • Save on interest and pay down your other credit card balances faster
    Apply Now

 

 1 The 25% more in bonus rewards consists of 1 Reward Point for each dollar of Net Purchases plus an additional 25% (0.25) in points awarded based upon the total points earned on Net Purchases within a billing cycle (total 1.25 points)
 2 The 50% more in bonus rewards consists of 1 Reward Point for each dollar of Net Purchases plus an additional 50% (0.50) in points awarded based upon the total points earned on Net Purchases within a billing cycle (total 1.5 points)
SBA Express Program

The SBA Express is a streamlined program designed to provide access to financing for small businesses, which offers reduced documentation requirements and quick approval process.

How it works for you
Loans can be revolving with annual renewals up to seven years. The SBA guaranties 50% of the loan. The bank utilizes its own documentation to approve and service loan requests up to $350,000. Loans can either be term loans or revolving lines of credit.
• Who is eligible – All businesses that are considered for financing under SBA's 7(a) loan program must: meet SBA size standards, be for-profit, not already have the internal resources (business or personal) to provide the financing, and be able to demonstrate repayment. Certain variations of SBA's 7(a) loan program may also require additional eligibility criteria. Special purpose programs will identify those additional criteria. Additional eligibility factors for all 7(a) loans include type of business and use of proceeds. Repayment ability from the cash flow of the business is a primary consideration in the SBA loan decision process, but good character, management capability, collateral, and owner's equity contribution are also important considerations.
• Collateral requirements – Applicant may have a collateral shortfall, but all available business or personal collateral must be offered. Lines of credit are not governed by a borrowing base certificate for loans under $250M. The personal guaranty of each owner of 20% or more of
the business is required.
• Interest rates – Rates are tied to the prime rate (as published in the Wall Street Journal) and may be fixed or variable, but they may not exceed SBA maximums. The rate is Prime + 4.5% for loans over $50,000 and loans under $50,000 may be up to Prime + 6.5%.
• Maximum Loan Amount – The maximum loan amount for SBA Express is $350,000.
• Maturity – Loan maturities are generally one-year terms for revolving credit lines with renewals up to seven years. Term loans can be up to a seven-year term.

Key benefits to your business
• Fast approval process
• Streamlined, reduced documentation requirements
• Unlike most other SBA programs, the SBA Express can be used for working capital lines of credit

Apply Now

Subject to credit approval.