Home Equity Line of Credit

Loans for up to 85% of your home’s value to use for any purpose. Borrow what you need, set the term and payment to best fit your budget.

Have you considered unlocking your home’s equity to access funds?

This loan provides the easiest, most convenient way to access your home’s equity. Home equity line checks provide you easy access.

• Interest rates based on the Prime lending rate
• Monthly billing with interest only payments
• Flexibility in principle payments

* A balance remains due at time of loan maturity which requires a new loan or a balloon payment

No Application Fee At Time of Application

Checklist for HELOC Loans: (Home Equity Line of Credit)

• Last 2 years W-2s
• Payroll stubs for most recent month
• Contact person and phone number of employer
• 2 Years full Federal Tax returns if self-employed
• Account numbers for all deposit accounts
• Last 3 month’s bank statements on all deposit accounts
• Balance of your present mortgage, name, address and telephone number of financial institution
• Recent appraisal if mortgage is with another institution
• Tax Bill, prior title, and homeowner’s insurance policies

Fixed Rate Loans

• Guaranteed rate for the term of the loan

Whether you have questions about rates or need help choosing the right loan, our Loan Officers are ready to assist. Call us, visit a branch, or click here to apply online!

Click here to apply online!

THE HARVARD STATE BANK – NMLS # 704698

Personal loans/unsecured loans
These short term loans are for lower loan amounts used for just about any purpose.

Car loans
Financing is available for new or used auto loans. Have your payment automatically deducted from your Harvard State Bank checking or savings account for added convenience and receive .25% reduction in your interest rate.

Contact a Loan Officer today!
For the most accurate and competitive loan rates, please call and speak with a Loan Officer.

This sampling of loans and lines of credit gives a brief glimpse into the range of solutions we provide to meet the financing needs of businesses. But our local flexibility and responsiveness allows us to provide much more. Let us know your specific needs—from start-up to expansion.

• Working Capital Lines of Credit
• Equipment Financing
• Commercial Mortgages
• Investment Property Mortgages
• Business Acquisition Loans

Our commercial lenders are experienced and knowledgeable in structuring the funding for construction loans, equipment purchases, real estate loans and revolving lines of credit. To get started we have composed a list of information we will need to evaluate your specific needs.

Business Information

• Business Financial Statements
• Profit & Loss and Balance Sheet for the last 3 fiscal years
• Profit & Loss and Balance Sheet YTD
• Business Tax Returns for the last three years
• Current listing of business debt obligations
• Personal Information Personal Tax Returns for the last 3 years
• Personal Financial Statement
• Current listing of personal debt obligations

The process can begin prior to receiving all of the information and may require more information to complete the requested loan. Most importantly contact one of our commercial lenders today to receive specific information in regards to your type of business and how The Harvard State Bank can help!

SBA Loans

During these unique economic times, The Harvard State Bank has partnered with the Small Business Administration (SBA) to offer creative solutions for financing small businesses in an ever changing business environment. Whether your business’s goal is to purchase a building or equipment, procure working capital, or even purchase another business, we can help.

SBA 7(a) Loans

• Easy eligibility requirements
• Competitive interest rates
• Used to purchase fixed assets as well as for working capital and business acquisitions
• As little as 10% down payment – Save capital for future projects
• Longer Terms/Amortizations – Increase cash flow & working capital
• Can fund under collateralized loans – Don’t let drops in asset value hold your business back

SBA 504 Loans

• Used to purchase fixed assets (Real Estate & Equipment)
• Real Estate must be at least 51% owner occupied
• As little as 10% down payment – Save capital for future projects
• Up to 20 year fixed rates on 40% of project costs – Shield against rate risk

SBA for a wide variety of purposes

• Business acquisition
• Purchase of land or buildings
• Working capital & inventory
• Construction of new facilities
• Purchase of equipment, fixtures, leasehold improvements
• Refinancing debt
• Expansion or renovation

SBA also gives you flexible repayment options with the following guidelines:

• Working capital: 5-10 years
• Machinery & equipment: 5-10 years (not to exceed the life of the asset)
• Real estate & construction: up to 25 years (not to exceed the life of the asset)

Down payment is based on the purpose
of the loan and can be as little as:

• 10% for real estate purchase
• 20% for business acquisition

The Harvard State Bank’s maximum rates for SBA 7(a) loans are based on:

Prime +2.25% for terms under 7 years;

Prime +2.75% for terms of 7 years or more

Talk to a Lending Officer today and find out how The Harvard State Bank can be the financial partner your business deserves—community banking at its best starts here.

We have several special programs for the farmers who qualify.

• Farmer Mac II – offering fixed rate financing on farm land
• FSA Guaranteed Loan Programs
• Rural Housing business lending programs

Preliminary Information needed for Ag Loan Evaluation:

• Complete tax returns for the last two years
• Financial statements from the previous year
• Current listing of debt obligations
• Current year’s crop production plan
• Updated listing of machinery, livestock, crop inventory, and other farm personal property