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FAQ | Commercial Loans
Q: What is business banking and how do I choose the right business bank?
Why choose a community bank for your business banking?
A: Business banking includes services like business checking, loans, merchant services, and payroll—basically, the financial tools businesses need to operate and grow. When choosing a bank, look at digital tools, and how well they understand your business. That’s where a community bank really shines. We’re local, we know our customers personally, and we can offer flexible, fast solutions tailored just for your business.
Q: What documents do I need to open a business bank account?
A: When it comes to opening a business bank account, you’ll need a few key documents. These typically include, articles of incorporation if you’re an LLC or corporation, your EIN from the IRS, and personal ID for anyone signing on the account. Depending on your business type, there might be some additional paperwork, but that’s the core list we start with.
Q: What types of business loans are available with Northview Bank?
A: We offer a variety of options including term loans, lines of credit, equipment financing, and SBA loans. Each one serves a different purpose, whether you’re buying property, covering operating costs, or investing in new equipment. We’ll work with you to figure out what makes the most sense based on your goals and where your business stands financially.
Q: How can I accept payments from customers?
A: If you’re wondering how you can accept payments from customers, there are several great options. From credit card processing to mobile payments, ACH transfers, and even traditional checks and cash—we can help you set up systems that work for your business. Our merchant services make it easy and secure for you to get paid, however your customers prefer to pay.
Q: What is the typical down payment required?
A: We don’t have a typical down payment that is required. We customize solutions for every borrower. We’ll work with you to address any equity or contribution requirements, guiding you through exactly what’s needed based on your unique purchase and financial profile.
Q: How long can we finance a piece of equipment or commercial property?
A: If you’re wondering how long you can finance commercial real estate or equipment, well, we work with borrower to create a repayment term that matches the financing need. Again, it really comes down to the equipment’s type and condition or commercial property, but we’ve got flexible options to make it work.
Q: Do you have any resources to help with business plans and financial projections?
A: If you’re wondering if we can help with business plans and financial projections, the answer is yes. We would be pleased to help review and offer suggestions to your business plans and financial projections. Additionally, we can provide contact information for outside resources such as local to you, Small Business Development Center. That not only helps you plan better—it also strengthens your loan application and speeds up the approval process.
Q: How accommodating are Northview Commercial Lenders with businesses?
A: Northview Bank commercial lenders are very accommodating. We prioritize your schedule and terms. Instead of making you travel, we come directly to your workplace—allowing you to keep your business running smoothly without interruption.
Q: Can I expect to work with the same commercial lender year after year?
A: You can expect to work with the same commercial lender for years. At Northview Bank, we pride ourselves on the longevity of our team. We invest in our lenders, and they are dedicated to staying with us for the long haul. This stability means you can build a lasting relationship with a professional who is genuinely committed to your success and our community.