Term loans are used to finance the acquisition or modernization of a company's productive assets. Term loans are commonly used for purchases of machinery, equipment, furniture, fixtures and to make leasehold improvements. They may also be used for permanent additions to working capital, expansion or modernization of facilities, vehicles or other business transportation. The source of repayment is often generated by the enhanced cash flow from the assets. The loan period is determined by the productive life of the assets. For example, loans used to buy computers and office equipment will be shorter in duration than those used to purchase manufacturing equipment.
Lines of Credit
A St. Jean's Line of Credit will allow you to borrow a set amount and pay it down repeatedly, balancing your cash flow needs with this ready source of short-term funds. A Line of Credit is simple and easy to use, and is an excellent financial tool to cover short-term cash needs until accounts receivable can be collected. It is also a great way to take advantage of supplier discounts and cover seasonal working capital needs. A Line of Credit is most often secured by accounts receivable, inventory and other business assets and is renewable annually.
Business Credit Cards
At St. Jean's Credit Union , our industry-leading Consumer and Business credit card products offer competitive pricing combined with a full range of reward options - making it easy to select and apply for the card that meets your needs. To learn more or apply online please click here.
To view your Business Credit Card Account online please visit My Account Access.
Commercial Real Estate
St. Jean's Credit Union offers very competitive financing for commercial real estate, including the purchase of existing buildings or refinancing current loans. These loans use the property as the required collateral, and often are used for Commercial properties, both owner and non-owner occupied, rental housing, apartment complexes and combination business/residential properties. Recognizing that your real estate transaction may be unique, St. Jean's offers an innovative and flexible program to fit your needs. Commercial real estate loans are amortized over a set period of time, with payments and interest rates fixed over a 3-5 year term.
For more information regarding St. Jean's Credit Union's Business Services please contact Jim Metcalf at 978.219.1031 (firstname.lastname@example.org).
Additional Fees may apply, please refer to our Business Account Schedule of Fees.