Commercial Lines of Credit

Short-term funds are available under a credit line, or a revolving or short-term note, to make sure your business has the cash available to pay bills, meet special payroll needs, purchase additional inventory, or support more accounts receivables due to increased sales. Additional funds for working capital or seasonal sales will require a short term loan.

If you do not have an existing credit file at the bank, we need the following current information:

  • Provide Profit & Loss and Balance Sheet Statements — current within 180 days of Application
  • Provide signed personal and business federal income tax returns of all Principal Owners for previous three years

Commercial Term Loans

Term loans can help finance longer term projects such as new business equipment, commercial vehicles, leasehold improvements, or general expansion with a 3, 5, 7 or sometimes 10 year loan. The term of the loan will be determined by the business's cash flow needs, expected profits over time, and the useful life of the purpose being financed. The loan will be repaid with monthly payments of principal and interest.

If you do not have an existing credit file at the bank, we will need the following current information:

  • Provide Profit & Loss and Balance Sheet Statements — current within 180 days of Application
  • Provide signed personal and business federal income tax returns of all Principal Owners for previous three years

Commercial Mortgage Loans

Use a long-term mortgage to finance new or additional business property, or a major business renovation. We will help you select a financing plan to reach your goal. We may assist you in purchasing an appropriate business property according to your needs. We may finance the construction of this property. Our commercial mortgage program is designed for business owner-occupied properties, but in some cases there may be additional business tenants to support the project.

To finance your business building, we will need the following current information:

  • Commercial Real Estate Loan Application or other description of request
  • Provide Profit & Loss and Balance Sheet Statements — current within 180 days of Application
  • Provide signed personal and business federal income tax returns of all Principal Owners for previous three years
  • Copy of the real estate purchase agreement for your new property
  • Real Estate Appraisal by the bank authorized appraiser
  • Environmental Report by or verified by bank authorized vendor

Business Auto Loans

South Central Bank will finance business autos or other business vehicles. These are special preferred commercial banking rates, available to existing business account customers only. Rates do not apply to vehicles used for trucking purposes.

TermRateAnnual Percentage Rate
12 - 24 Months5.25%5.25%
25 - 26 Months5.75%5.75%
37 - 48 Months6.25%6.25%
49 - 60 Months6.75%6.75%