Commercial Loans

Enjoy competitive rates for the purchase, refinance, or construction of commercial properties.

• Available for owner-occupied or investment properties 
• Repayment terms customized to fit your business's unique needs 
• Lending professionals with working knowledge of the local real estate market 
• Quick, local decision-making and processing 

Purchase a vehicle affordably for your business.

• Competitive, fixed and variable rates on new or used vehicles 
• A wide range of terms customized to your unique situation 
• Pre-approval available for extra bargaining power at the dealership 
• Refinance your current vehicle to potentially lower your rate
• Quick, local decision-making and processing 

Stay competitive with new or repaired equipment.

• Competitive rates for new or used equipment 
• Customized terms, designed around your business's unique needs 
• Meet needs without cutting into working capital or savings 
• Stay ahead of the competition 
• Avoid lapsed periods in production and outdated equipment 
• Local decision-making and processing 

Get affordable, ongoing credit for a variety of business needs.

• Competitive rates for a wide range of long-term or seasonal business needs:
  • Seasonal fluctuations
  • Inventory
  • Capitalize on trade discounts
  • Working capital
  • Ongoing updates
  • And more
• Provides greater financial flexibility
• Repayment customized based on your business’s unique needs
• Funds available right as you need them; apply once then use again as needed thereafter
• Revolving credit — as principal is repaid, more becomes available for use
• Only pay interest on the part that's used*
• Funds are easily accessible via check
• Local decision-making and processing

*Consult a tax advisor.

We’d love to have you start or grow your business with us.

• Competitive rates for a wide range of business expenses:
  • Working capital
  • Equipment
  • Machinery
  • Inventory
  • Facility improvements
  • And more
• Repayment terms customized to fit your business's unique needs
• Quick, local decision-making and processing

Greg Ingram

Office: 618-351-8317, Ext 2107
301 E. Main Street
Carbondale, IL 62901
Email: [email protected]

Josh Combs

Office: 618-351-8317, Ext 2105
301 E. Main Street
Carbondale, IL 62901
Email: [email protected]

Whitney Stringer

Office: 618-997-4341, Ext. 1401
1303 N. Marathon Drive
Marion, IL 62959
Email: [email protected]

Scott Stefan

Office: 618-997-4341, Ext 2114
114 W. Monroe Street
Herrin, IL 62948
Email: [email protected]

Chris Germann 

Office: 618-351-8317 Ext. 2122 
301 E. Main Street 
Carbondale, IL 62901 
Email: [email protected] 

Travis Lipe 

Office: 618-351-8317 Ext. 2131 
301 E. Main Street 
Carbondale, IL 62901 
Email: [email protected] 

Stephen Schauwecker

Office: 618-351-8317, Ext 2103
301 E. Main Street
Carbondale, IL 62901
Email: [email protected]

Accounts Payable

The amount your business owed to the vendors/suppliers you purchased products from.

Accounts Receivable

The amount of money different businesses owe your business.

Amortization

A scheduled breakdown of how payments are allocated to principal and interest over the term of the loan. (How long and how much you will have to pay to pay off your loan).

Assets

What you or your business own. This includes bank accounts, stocks, bonds, real estate, business equipment; inventory basically anything that you own even if there is an outstanding loan against the asset. If you have a car it is your asset even if you are still making payments.

Appraisal / Evaluation

A written analysis of the value of the property (real estate, equipment, inventory) that will be used as security for the loan.

Capital

The funds invested in a company on a long-term basis; funds invested in a company by the owners for use in the business; the owner’s original investment, plus any profit reinvested in the business that appears on the balance sheet.

Cash Flow Statement

A statement of a business’s cash receipts and payments during a given period (usually one year). Also referred to as a Source and Uses of Funds Statement.

Collateral

Specific property, equipment, inventory, accounts or other assets that the borrower pledges to the lender in order to secure the loans. It is a backup source of loan repayment. If you pledge your business equipment as collateral and you don’t make you loan payments the bank can take the equipment, sell it and apply the proceeds to the loan balance.

Debt Coverage Ratio (DCR)       

A business's loan payments divided by the net income. If you business has annual loan payments of $2,400 and the business had a net profit at the end of the year of $4,000 the DCR would be $4,000 / $2,400 = 1.70. A good DCR is usually above 1.4

Equipment

Fixed assets used in the business to produce a product or provide a service such as machinery, computers or company vehicles.

Equity / Net Worth

The value of the company/business. The difference between the company’s assets (what is owned) and the company’s liabilities (what is owed).

Financial Statement

A listing of the borrower’s assets, liabilities, and Equity/Net Worth.

Fixed Rate   

An interest rate that will remain the same throughout the term of the loan.

Letter of Credit      

A letter of credit is a written instrument intended to facilitate long distance transactions by allowing a buyer of goods to establish a credit line against which a seller can draw. Letters of credit guard against risks of insolvency and uncertainty in delivery and settlement due to market fluctuations over time and are used in connection with domestic and foreign commercial trade.

Liabilities

What you owe – credit cards, student loans, auto loans, real estate/mortgage loans, etc.

Lien

A claim against property that must be satisfied before the property can be sold.

Loan to value (LTV) ratio

That percentage of the market value of the collateral that is consumed by loans. The LTV will be different depending on what type of collateral is being held. If real estate is collateral the LTV is normally 80%, if equipment is collateral the LTV would be 60-80%, if inventory was collateral the LTV would be 50-70%

Maturity

When a loan term will end or the balance will be due.

Operating Profit

Earnings from a company's normal business operations. This amount generally excludes revenue from loan interest, investments, etc. except where these activities are part of the company's regular business operations. Also called Operating Income.

Personal Financial Statement

Statement of an individual's personal financial resources and obligations, comparable to a balance sheet for a business.

Primary Borrower

The person who is primarily responsible for the repayment of the loan.

Principal

The amount borrowed not including any fees or interest.

Purchase Money Transaction

A loan transaction in which the loan proceeds are used specifically to purchase the property used as collateral for the loan.

Refinance

Obtaining a new loan to pay off an existing loan using the same collateral.

Revolving Line of Credit

A specified maximum line of credit on which a borrower may draw for a limited period. The balance may fluctuate from zero up to the maximum amount. Similar to a credit card type loan.

Security Agreement

A contractual agreement through which a borrower agrees to pledge certain property as collateral in exchange for receiving a loan.

Single Pay Note

A loan that is repaid (principal and interest) on a specific maturity date. No interim payments are scheduled.

Sources of Cash

All revenues available to a business - these include collections of accounts receivable, sales of inventory for cash, selling fixed assets for cash, accounts payable and other borrowings.

Term Loan

A loan usually repayable in annual or more frequent installments.

Variable Rate

An interest rate that is subject to change throughout the term of the loan. How much and when the variable rate will change needs to be defined while setting up the variable rate loan. Usually the rate is set to change at specified intervals in relation to a fixed point (Prime).

Working Capital

A company's investment in current assets, namely, cash, marketable securities, accounts receivable, and inventory. The difference between a company's current assets and current liabilities is known as net working capital.