LLCU offers several types of loans for small businesses and people wanting to start a new business. Each loan type has its own advantages. Let one of our experienced Commercial Lending Officers help you decide which is best for you. Land of Lincoln Credit Union is a Certified SBA Lender.
- Business Acquisition Loans are for the purpose of purchasing or merging with another business, either by stock purchase or by private equity.
- Business Development Loans are often used to finance industrial building, office building, retail center development and multi-family housing development.
- Terms Loans can be taken out for business needs such as equipment, machinery vehicles, real estate or new or expansion construction.
- Restructuring Loans are used when a business or individual that owns a commercial property such as a strip-mall, agree with the mortgage holder to permanently change the terms of the original note.
- SBA Loans are business loans that include lower down payments and longer repayment terms than conventional loans. SBA loans are guaranteed by the Small Business Administration. Operating Lines of Credit are funds that are disbursed as needed, to be used for whatever the business’s current needs may be.
Contact Howard Martin, Chief Lending Officer at 217-615-3945 or Jonan Tiarks, AVP Commercial Loan Officer at 217-853-0004 for an appointment to discuss your business dreams.