Credit Products

At CoastalStates Bank, loan decisions are made locally which means a quick response from a dedicated commercial lender.

LOCAL.WORKING CAPITAL LINE OF CREDIT

  • A revolving line of credit typically used to fund seasonal cash flow needs
  • Interest billed monthly with principal repayment made according to cash flow collections
  • Variable interest rate
  • 12 month duration with annual review and renewal

LOCAL. BUSINESS TERM LOAN

  • A loan extended for a stated period of time used to fund capital expenditures such as equipment purchase or a business expansion
  • Principal and interest repaid in scheduled installments, typically on a monthly basis
  • Terms generally extended from 1 to 5 years
  • “Beach Plan” repayment schedules are available to provide interest only payment periods over non-peak months
  • Variable and fixed interest rates available

LOCAL. COMMERCIAL MORTGAGE LOAN

  • Loans to acquire, construct, or refinance a primary business location or an income-producing investment property
  • Monthly principal and interest repayment, typically amortized between 15 & 20 years
  • Loan to Value ratio of up to 85%, depending on credit underwriting
  • 90% Loan to Value program available for eligible owneroccupied new construction or acquisition
  • Variable and fixed interest rates available

LOCAL. STANDBY LETTER OF CREDIT

  • Credit enhancement to support a relationship with a third party, possibly a new vendor or a governmental agency
  • Fee based credit facility

 

Interest rate determinations are positively impacted with the establishment of a primary deposit relationship.