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Loans, Lines of Credit, & SBA Lending

Need to finance equipment?…a new building?…extraordinary annual expenses?…launch a new business?…everyday operations?…Let’s talk!

Oak Bank specializes in a full line of commercial lending products. We have experience in financing owner occupied and income properties as well as construction lending. 

We understand the needs of …

bulletsmall manufacturers,
bulletprofessional practitioners,
bulletother service businesses,
bulletcommercial real estate developers, and
bulletsmall and medium wholesalers and distributors.

Let us put our resources to work for you and your business. We have short, intermediate, and long-term commercial lending support for your business. Our competitive rates assure a low monthly payment, and for added convenience, your payments can be deducted directly from your checking account. We have flexible loan terms. Our approval system is streamlined with local decision makers working with you. Our business banking professional uses sound banking knowledge with a framework that encourages creativity.

We offer:

bulletCommercial Mortgage Loan – Whether you need additional funds for a major renovation project or for a new building, we will assist you in selecting the type of loan that will best suit your needs.
bulletShort-Term Working Capital Loan – Our working capital loans provide you with a constant source of needed capital, including inventory and accounts receivable financing.
bulletRevolving or Seasonal Line of Credit – Get the funding you need, when you need it with a commercial line of credit. Lines of credit allow you to borrow as you need to…so you can manage your company’s financial requirements.
bulletTerm Loans – We have a variety of term loans that provide the necessary resources to make investments in your facility and equipment, or for your long-term growth plans.
bulletSweeps
bulletLetter of Credit
bulletSBA Guaranteed Loan Programs

Do you have all the information required to apply for a loan? View and Print our Financing Requirements Checklist.

Call 608/441-6000 or contact us today to set up an appointment to meet our experience business banker today.

SBA Lending

Oak Bank's dedicated team of lending experts has a strong relationship with the Small Business Administration (SBA), an organization that guarantees loans to small businesses.

Virtually any business purpose can qualify for a SBA guaranteed loan, including:

bulletCommercial real estate purchase
bulletConstruction
bulletBusiness acquisition or expansion
bulletEquipment or inventory purchase
bulletRefinance
bulletWorking capital

Oak Bank and the SBA offer two separate, but equally important loan programs:

Basic 7(a) Loan Guaranty

Customer: For-profit small businesses
Function: Serves as the SBA's primary business loan program to help qualified small businesses obtain financing when they might not be eligible for business loans through normal lending channels.
It's also the agency's most flexible business loan program, since financing under this program can be guaranteed for a variety of general business purposes.

Loan proceeds can be used for most sound business purposes including working capital, machinery and equipment, furniture and fixtures, land and building (including purchase, renovation and new construction), leasehold improvements, and debt refinancing (under special conditions).

Loan maturity is up to 10 years for working capital and generally up to 25 years for fixed assets. The maximum SBA guaranteed loan is currently $2,000,000.

Certified Development Company (CDC), a 504 Loan Program

Customer: For-profit small businesses requiring "brick and mortar" financing.
Function: Provides long-term, fixed-rate financing to small businesses to acquire real estate or machinery or equipment for expansion or modernization. Typically a 504 project includes a loan secured from a private-sector lender with a senior lien, a loan secured from a CDC (funded by a 100 percent SBA-guaranteed debenture) with a junior lien covering up to 40 percent of the total cost, and a contribution of at least 10 percent equity from the borrower. The maximum SBA debenture generally is $1 million (and up to $1.3 million in some cases).

For more information regarding these programs click here to be redirected to the SBA's website http://www.sba.gov/financing/index.html. To find out how Oak Bank can assist your small business, please call 608/441-6000.