Commercial Loans

Commercial Loans

At Milledgeville State Bank we realize that every business is its own establishment, and that each loan request is as unique as the business making the request. Whether you are purchasing equipment, looking to expand, exploring a new venture, renovating or building, Milledgeville State Bank has the expertise to structure a loan, establish a line of credit, or offer credit alternatives to meet the needs of your business

Making the Loan Process Work for You

  • As a businessperson, you know that time is money. The more information we have about your business and your financial needs, the better we can serve you. When we meet, we’ll help you to focus on: Your business plan, business history, and future plans.
  • The purpose of the credit, how much is needed, and the term desired.
  • Assessing your business experience, credit history, collateral, and ability to repay the loan.
  • Any other factors that my be pertinent.

Items and documentation that Milledgeville State Bank needs to consider the loan request include:

  • A completed Milledgeville State Bank commercial loan application
  • A brief history of your business
  • A summary of the company’s management structure
  • A year-to-date financial statement
  • Financial statements for the past three years. If you have been in business for less than three years, provide statements for as long as you have been in business
  • An aging of accounts receivable and accounts payable
  • Complete tax returns for the business for the past three years
  • A personal financial statement dated within 90 days of the request and complete copies of the principal’s/guarantor’s tax returns for the past three years.

Financial Leverage and Flexibility

Commercial Term Loan: When you need a specific amount of money for a specific period of time, a term loan can be designed. Term loans can help finance intermediate or long term fixed assets, such as equipment, improvements, acquisition, or permanent working capital. Loan terms will generally match the economic life of the financed asset(s).

Commercial Line of Credit: The flexibility of a line of credit allows you to meet your short-term operating needs and support seasonal cash flow fluctuations. Once the credit line is established, you will have immediate access up to your approved credit limit. Interest is paid monthly on the amount you borrow and for the time it is used. As a revolving credit facility, loan amounts can be repaid and borrowed again during the approved period. Lines of credit are made available for a term of one year and typically require a 30-day rest period. Renewals are subject to annual financial reviews.

Commercial Real Estate Loan: If you are building a new facility, looking to purchase or want to improve or expand existing property, then consider our Commercial Real Estate Loans. Flexible rates and terms are established by Milledgeville State Bank based on current market conditions and other criteria.

Construction loans, Commercial short-term loans (generally less than 90 days), and letters of credit are also available from Milledgeville State Bank.