• Business Advantage Line of Credit
• Investment Secured Business Loans
• Business Real Estate Loans
• Business Vehicle & Rolling Stock Loans
• Agri Business Loans

Business Advantage Line of Credit

Designed for:

• Improving cash flow, funding payroll, or seasonal working capital
• Refinancing debt
• Purchasing inventory and materials
• Financing accounts receivable
• Emergency funds
• Overdraft protection

Features:

• Fast, easy access to funds via check, banking center transfer and telephone authorization
• Business access to funds when needed
• Interest is charged only on the portion of the line in use
• Flexibility to pay in full or over time
• Competitive, variable rate of interest
• Can be used as overdraft protection for a Kent Bank business checking account
• May be secured by blanket lien on business assets, investments or owner occupied real estate
• Convenient monthly repayment terms, including minimum interest-only payments and auto-debit payment from a Kent Bank business checking account

Requirements:

• Business established 2 or more years.
• Financial documentation required including the past 2 most recent years business tax returns, personal tax returns and current financial statements.
• All owners with at least 20% ownership required to guarantee, with a minimum of 80% ownership represented.

Investment Secured Business Loans

Designed for:

• Purchasing inventory and materials
• Purchasing vehicles or equipment
• Improving cash flow or permanent working capital
• Refinancing debt
• Financing accounts receivable

Features:

• Use CDs, marketable securities, or savings to secure the loan
• Increase access to capital
• Competitive fixed or variable rates of interest
• Convenient repayment terms, including auto-debit payment from a Kent Bank business checking account

Requirements:

• First lien position on Investments held with Kent Bank Savings Account or CD
• All account owners must execute documents required to perfect lien
• All owners with at least 20% ownership required to guarantee, with a minimum of 80% ownership

Business Real Estate Loans

Designed for:

• Can be used to construct, purchase, or refinance an owner-occupied business property, or expand or remodel existing facilities

Features:

• Fully amortizing and balloon payment options
• Competitive, fixed or variable rate of interest
• Secured by the owner-occupied real estate being financed
• Available amortization up to 20 years
• Maximum of 80% loan to value, including fees financed
• 1^st and 2^nd mortgages available on owner occupied real estate up to maximum loan to value

Requirements:

• Business established 2 or more years
• Copy of Purchase contract required (if purchase)
• Most recent tax assessment on property
• Outside appraisal of property value may be required
• Financial documentation including the past 2 most recent years business tax returns, personal tax returns and current financial statements
• All owners with at least 20% ownership required to guarantee, with a minimum of 80% ownership

Business Vehicle & Rolling Stock Loans

Designed for:

• Business owners who want to finance the purchase of a new or used vehicle or business related rolling stock equipment.

Features:

• May borrow up to 100% of the purchase price
• Competitive, fixed rate of interest
• May be secured by business assets
• Convenient repayment terms

Requirements:

• Dealer invoice validating purchase price must be provided
• Business established 2 or more years
• Financial documentation includng the past 2 most recent years business tax returns, personal tax returns and current financial statements.
• All owners with at least 20% ownership required to guarantee, with a minimum of 80% ownership represented.

Agri Business Loans

Designed for:

• Financing crop, dairy and livestock production expenses
• Purchasing equipment
• Breeding livestock
• Purchasing land for the purpose of farming or ranching (not rural residences)

Features:

• Secured by the equipment or land being financed
• Convenient repayment terms, including quarterly, semiannual, and annual payments
• Supported by a specialized agricultural lending team

Requirements:

• Business established 2 or more years
• Financial documentation including the past 2 most recent years business tax returns, personal tax returns and current financial statements.
• All owners with at least 20% ownership required to guarantee, with a minimum of 80% ownership