Business Loans

Business Loans

We understand how important your business is to you, so we strive to deliver exceptional service. We specialize in creative structuring and finding a solution to your needs. 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

Call your local branch to speak with one of our Lending Officers on how The Harvard State Bank can partner with your business and show you community banking at its best!



Ryan Hutchinson

(NMLS #2105886)

Commercial Loan Officer

Harvard – Main Office
35 N Ayer St
Harvard, IL 60033