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Commercial Lending

We provide financing options
for all businesses, large or small.

After 150 years of local banking, we understand the needs of individuals, families, and businesses in our communities – and we’re committed to addressing them. 

We’re here to help your business, large or small. That’s why we offer all types of commercial loans to meet your business needs, with a wide variety of options for terms of maturity, competitive rates, amortization schedules, and collateral.

Find a Commercial Banker


NEW | Small Business Administration and Michigan Economic Development Corporation | Disaster Assistance Loan & Grant Programs

The U.S. Small Business Administration (SBA) and Michigan Economic Development Corporation (MEDC) provide low-interest long-term loans to businesses of all sizes, private non-profit organizations, homeowners, and renters for economic disasters.

SBA Disaster Loan Details:

  • Loans will be up to $2 million dollars and will be Direct Loans from the SBA
  • 30-Year terms at fixed rates of 3.75% for businesses and 2.75% for non-profit organizations
  • Borrowers will pay the SBA directly

3 Step Process   Assistance Program

SBA Paycheck Protection Program (PPP) Details:

An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.

Learn more   PPP Information Sheet   Apply now

MEDC Loan and Grant Details:

  • Provide up to $10 million in grant funding to one or more local economic development organizations or non-profits
  • Provide up to $10 million in small business loans to support businesses facing drastic reductions in cash flow and the continued support of their workforce
  • Funds are expected to be available no later than April 1, 2020

Learn more   Apply now  


 

Traditional Financing Programs

Term Loans

Independent Bank offers hundreds of businesses the capital they need to purchase everything from factory machinery to office equipment to fleet vehicles – all so they can run their business more efficiently and on a larger scale.

Features:

  • Flexible terms to meet the needs of different companies
  • Flexible financing requirements and collateral needs

Working Capital Lines of Credit

These flexible loans provide businesses with a revolving line of credit. Lines of credit are especially useful for bridging short-term but recurrent cash flow needs. Credit lines also allow companies to quickly make inventory or equipment purchases without reapplying for a loan and waiting for approval each time. You only pay interest on the funds you have drawn until the principal is repaid. And since credit lines are revolving, you can repeatedly borrow up to your credit limit without reapplying, as long as the account is open.

Features:

  • Advances are typically tied to a formula of accounts receivable, inventory, and/or equipment

Commercial Mortgages

These include loans to build, renovate, or add onto virtually any kind of commercial property – both owner-occupied and investment real estate projects such as retail, office buildings, apartment buildings, and more.

Small Business Administration (SBA) Loans

Independent Bank supports the growth of businesses in its local communities through SBA lending.

These small business loans are backed by the Small Business Administration of the federal government and are intended to promote small business growth by offering longer terms and access to funds for smaller companies. In addition to offering credit to businesses that might not otherwise find it, SBA loans often enable the borrower to stretch out repayment over a longer period of time and eliminate balloon payments. 

 

Ready to Apply?

Contact a commercial banker in your area to help you determine the best options for your business. 

Find a Commercial Banker