A Common Sense Approach to Providing Capital to Operate and Grow your Business

Your business is not necessarily like other businesses. In fact, your business needs may be very different from that of other businesses in your industry. If you have unique operating characteristics, likewise, you will have unique financing needs.

At Farmers National Bank, we understand commercial loans are not one size fits all.

Experience
Our commercial lenders are among the most experienced financial professionals in the area, and they put that experience to good use. They work with you to create customized financing that fits the needs of your particular business, not preconceived terms of a "cookie cutter" business loan package.

Results
The result: financing that can give you a competitive advantage in operating and growing your business.

Types of Businesses
Manufacturers, retailers, sales, professional and service businesses, can all potentially benefit from our common sense approach to financing.

Commercial Term Loans
Fixed and variable rates with loan terms that can be extended to twenty years.

A Commercial Term Loan from Farmers is an option if your company needs additional working capital or seeks to purchase new equipment. The loan term is typically matched to the life of the asset acquired. Assets purchased can be used to generate additional funds to assist in loan repayment.

Commercial Mortgage Loans are for those looking to expand, refinance or acquire a new property. Farmers offers both interim construction loans and long-term mortgage financing.

Eligible uses would include the following:

• Land or building acquisition
• Refinance existing debt
• Commercial construction, renovation, or expansion
• Permanent working capital requirements
• Purchase machinery, equipment, fixtures, and leasehold improvements
• A Farmers representative can discuss other eligible uses

Commercial Lines of Credit
Variable rates tied to National Prime with flexible terms.

A short-term Working Capital Loan can provide your company with cash to support accelerated growth, new product introductions and entrance into new markets. It can also be used as a revolving line of credit to support loan needs during cyclical times.

Eligible uses would include the following:

• Seasonal working capital needs
• Account receivable financing
• Inventory purchases

Domestic Letters of Credit
Farmers provides standby and Irrevocable letters of credit. Administrative fees are billed annually.

Performance, Construction and Maintenance Bonding
Farmers can provide bonding for the above purposes at very competitive terms.

VISA Corporate Credit Card
Designed for business use, our VISA Card will give you the convenience of global acceptance and access to a source of instant financing for office equipment, supplies, inventory and working capital. Additionally, Farmers' VISA Credit Card makes it easier to separate business expenses from personal expenditures. Seperate limits are set up for each individual cardholder, providing added security and flexibility

Automatic Business Credit
Automatic Business Credit ("ABC") is a credit line program offered by Farmers National Bank that is well suited to the small business and seasonal line of business by providing the financial flexibility necessary for success and growth.

ABC immediately makes available a cash reserve that is tailored to provide a smoother cash flow in your business and can result in more favorable earnings. Additionally, the cost of delayed payments and over drafts due to error can be eliminated.

Availability
Credit is immediately available to qualifying businesses that maintain a checking account with Farmers National Bank.

Amount and Charges
A line of credit of $5,000 to $25,000... or more! Annual fee of $50.00 No transaction fees.

Interest
Interest will be calculated on a daily basis and billed monthly at 1-1/2% over Prime Rate, as published in the Wall Street Journal.

Transfer
Advances against line of credit made in increments of $500 by automatic deposit credit into your commercial account.

Payment
Principal payments can be made anytime. Interest payments are due monthly.

Conclusion
Termination of the ABC agreement between the borrower and Farmers National Bank may be made by the borrower at any time by payment in full or conversion of the balance to term debt with a monthly payout schedule agreeable to Farmers.

Documentation
Requirements may vary; ask your Farmers representative for a complete listing of requirements for your specific request.

Common requirements include the following:

• Last three years financial statements (Income statements and balance sheets)
• Last three years tax returns (Corporate and/or personal)
• Current personal financial statement

How to Get Started
Any Farmers commercial lender has the authority to evaluate your needs. (Restrictions on non-standard loans may apply.) Simply call our main branch office at 330-533-3341, call our toll free number at 1-888-988-FARM or our Niles main branch office at 330-544-7400 and ask for the Commercial Loan Department, or contact your local Branch Manager.

If you would like information about any of the other commercial business banking services we provide - such as deposit services - please see a Farmers representative or request a portfolio of our Commercial Banking offerings.

back to top of page