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Business Lending

Benefit from real solutions and real expertise.

At Simsbury Bank, we don’t just offer you Business Banking solutions; we also provide information, insight and ideas based on our extensive knowledge of the business climate and conditions in northern and central Connecticut, and throughout southern New England.

Review our lending solutions below, and then schedule a meeting with one of our experienced Commercial Relationship Managers to determine what will help you reach your goals.

Revolving Lines of Credit

Keep your business moving by supplementing your short-term financing needs with a revolving line of credit.

  • Line amounts from $25,000 to $3,000,000
  • Competitive interest rates
  • Easily accessible, supports increased growth, seasonal sales inventory purchases and vendor payments

Term Loans

This type of loan is ideal for longer term business needs, and can be structured to meet the cash flow needs of your business. Features include:

  • Supports purchases of fixed assets, business expansion or acquisition
  • Competitive rates

Capital Expenditure Line of Credit

As its name implies, this type of loan is used to finance fixed assets or make capital acquisitions. It is a hybrid loan, combining the features of a line of credit and a term loan. For an initial period, it functions like a line of credit, with multiple advances permitted, enabling you to make equipment purchases over a period of time, generally up to 12 months.

  • During the line of credit period, only interest payments are due
  • Once the balance converts to a term loan, the sum is repaid via monthly payments of principal and interest for a period of up to five years

Commercial Mortgages

Commercial mortgages are used to purchase real estate, and to expand or modernize plants or sites.  They are similar to residential mortgages and like a term loan, where the full amount of debt is borrowed on day one and a fixed monthly payment of both principal and interest is required.

  • Term can range from 10 – 20 years
  • Typically includes a provision to reset the interest rate at five-year intervals

Residential Development

Simsbury Bank provides financing for land acquisition, infrastructure development and construction of residential property.

Assisted Programs

Our status and expertise as a Certified Lender for the United States Small Business Administration (SBA) Express Guaranty allows us to provide you with even more options for your business, including the 7A and 504 programs. We are also authorized to facilitate loans through the Connecticut Development Authority’s Loan and Loan Guarantee programs.

  • Commercial Construction & Permanent Mortgage Loans: Competitive financing and terms for owner-occupied property.
  • Homebuilder Financing: The most important investment in most people’s lives is their home. We are proud to finance the developers who make home ownership dreams come true.

Simsbury Bank Receives CT SBA 2014 Emerging Lender Award

Simsbury Bank received the 2014 Emerging Lender award at the Connecticut Small Business Administration (SBA) Annual Lenders and Partners Meeting where the SBA’s 2014 Eagle Awards were announced.

The Emerging Lender designation is awarded to the bank that demonstrates a significant increase in their SBA loan portfolio to help small businesses obtain access to the financing capital they need to build and grow their businesses.  “Simsbury Bank more than doubled their SBA loan activity from 2013 – 2014.  We thank them for their tremendous support of the SBA and the Connecticut business community.” said SBA District Director, Bernard Sweeney.

Gary Burdick, Senior Vice President and Chief Commercial Banking Officer along with Stephen Vaughan, Vice President and Commercial Relationship Manager, accepted the award on behalf of Simsbury Bank.  “We are honored to receive the Emerging Lender award, and look forward to helping many more businesses in Connecticut obtain the credit capital they need through our partnership with the Connecticut SBA.”

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