Bring your business strategy to life. We offer competitive rates for business acquisition and expansion, equipment purchases, and other business needs. Choose between short-term and long-term business loans, depending on your needs and financial situation. With a business term loan, you receive a certain amount of capital to use for business purposes and pay it back in regular monthly installments over a predetermined period of time. Just as no two businesses are exactly alike, our business lenders create personalized financing and terms to best support your business objectives.
Receive competitive rates for your business needs:
- Business acquisition
- Equipment and machinery purchases and repairs
- Facility improvements and expansion
Repayment terms are customized to fit the unique needs of your business.
The primary advantage of a business term loan over a line of credit is the fixed nature of the loan terms. While a business line of credit is useful to have for working capital needs, term loans are a better option for business equipment financing or a business expansion loan. There may even be tax benefits from using a term loan to purchase business equipment--talk to your tax professional to learn more.
Enjoy the flexibility that comes with local decision-making and loan processing.
At Town and Country Bank and Peoples Prosperity Bank, we specialize in helping businesses succeed. Our experienced business lenders understand that the same loan package won't work for all companies. That's why we're glad to have the flexibility that comes with local ownership. The business banker who knows you and your company is the one to customize business financing options, not a stranger in another city. When we help local businesses obtain the financing they need, we fulfill our mission to empower the financial well-being of our communities, one person at a time.
Attentive, friendly service from application to closing!
Stand side by side with a local institution. The Town and Country Bank and Peoples Prosperity Bank business lending team gets to know our clients on an individual level, so we can best help you achieve your business goals and dreams. We'll help you complete the application and gather the necessary supporting documents to demonstrate your personal and business financial history. At closing, we'll be the first to congratulate you on taking the next step toward greater success. Ready to learn more about business acquisition and expansion loans? Request a consultation with our business lending team or visit your local branch in Central Illinois and Metro East, including our dedicated loan production office in Bloomington, Illinois.