BUSINESS BANKING PRODUCTS
BUSINESS BANKING PRODUCTS
| CHECKING | COMMERCIAL MORTGAGES |
CONSTRUCTION MORTGAGES |
COMMERCIAL TERM LOANS |
LINES OF CREDIT |
LETTERS OF CREDIT |
DEVELOPMENT LOANS | SBA LENDING | 504 MORTGAGES |
CHECKING ACCOUNTS
Essex Savings Bank offers your business an important financial tool: People who enjoy helping people. The convenience of business checking can not only save accounting time, reduce borrowing needs and increase investment income opportunity, it is our quick response to your needs that adds the real value.
No minimum balance required and no transaction fees for checks written or
deposits made. We want to help non-profits succeed.
When you are ready to grow
your business, purchase new equipment or purchase inventory, we can help with a
variety of financing options.
We understand the challenge of financing your business
and can work with you to arrange a payment schedule to match your funding needs.
At Essex Savings Bank, you’ll enjoy a local Commercial Lending Officer who works on your schedule, where you do business and provides quick a response. We offer in-depth experience on virtually every small business financing program available.
Whether it is a building or land you want to purchase for your business, we offer a variety of loan options to fit your needs. We offer competitive rates and terms for owner occupied or investment properties. These are long term financing needs and we can help with a long term fully amortizing mortgage.
When you need to build a new facility, renovate or add onto an existing building, we offer flexible construction mortgages. Our simplified closing and documentation allow you to focus on your project and not paperwork.
Term loans allow you to purchase equipment for your business, or provide long term capital to fund your business growth. We can help. We can provide financing for office equipment, manufacturing equipment, company vehicles and a variety of other items your business needs. We’ll work with you to help select a repayment term that makes sense.
Your business has unexpected
challenges, timely opportunities and seasonal cash flow needs.
You can handle these needs with a
line of credit from Essex Savings Bank.
Funds from your line of credit will
be directly deposited into your ESB business checking account.
Stand-by financing, typically
used to support bid bonds or performance bonds.
DEVELOPMENT LOANS
Designed to fund the acquisition and construction of subdivisions. Let us structure a comprehensive land development package for you.
SBA LENDING
ESB partners with the US Small
Business Administration to provide loans backed by the SBA 7a Program. These
loans can be used for start-up companies or those seeking significant business
expansion. Our knowledgeable lending staff will guide you throughout this
process.
504 MORTGAGES
An exciting opportunity for
business owners seeking to purchase owner-occupied real estate. This product
provides up to 90% financing, with a 50% conventional first mortgage and up to a
40% second mortgage funded through an SBA debenture. Limits cash injection
required by the borrower and stabilizes cash flow with a long term, fixed rate
second mortgage. Can also be used to fund long term machinery and equipment
acquisitions.
Our experienced commercial lending team is ready to help. Please call or e-mail
us today at:
Jesse R. Wenzel, Vice President Commercial Loans
E-MAIL or Call: (860) 767-4414
x 248
Diane L. Hoadley, Vice President Commercial Loans
E-MAIL or Call: (860) 767-4414 x 323
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