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There are times when a business needs funding to run a business or grow their business. We have a menu of business loans that will fit your needs. For example:
Business Equipment and Fixtures
We make loans to finance all kinds of business equipment, machinery and fixtures. Some of the most common are commercial machinery, commercial vehicles, office equipment and furniture, computers, technology equipment, and heavy equipment. Repayment terms are designed to meet the financial needs of the customer, consideration given to the useful life of the asset financed. We also accommodate customers who prefer leased equipment.
Line of Credit (revolving line of credit)
A revolving line of credit can help you meet your short-term funding needs, such as seasonal cash flow or unexpected opportunities. These are usually one-year loans and renewed annually when handled responsibly.
Business Reserve Lines of Credit
Credit lines are tied to the customer’s checking account and are activated by writing a check on the account. Interest is accrued daily on the outstanding balance.
Leasing
This program is useful for technology items that need replacement every few years. Depending on the current depreciation tax schedules, leases can provide a tax incentive since the whole payment is deductible. Call Ken Adamson at Central Bank (573-634-1178).
Letters of Credit
Your supplier or sales tax collector may ask your bank to provide a letter of credit to guarantee that payments will be made. This is normal when starting a business or starting a relationship with a supplier.
Business Credit Cards
A business owner may need this flexible revolving credit option. It is great for travel, entertainment, and discretionary expense. Please refer to Merchant Services for more information.
Agriculture Loans
Our agriculture loans currently provide financial solutions to agriculture producers, merchandisers and processors throughout mid-Missouri. Central Bank also participates with USDA and utilizes the Farm Service Agency guaranteed loan program. Central Bank has used this program for over twenty years to help individuals start, run and expand their agricultural businesses. To discuss this program, call Carl Kemna at the Central Bank Tuscumbia facility (573)369-2376.
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