Business Loans & Lines of Credit
Business Loans & Lines of Credit for Every Stage of Growth
Whether you’re launching a startup, buying equipment, managing cash flow, or planning to expand, Peoples Bank offers flexible business financing solutions, including SBA loans, USDA loans, business lines of credit, equipment financing, and term loans.
Proud to Rank Among the Nation’s Top SBA Lenders
As an SBA Preferred Lender, Peoples Bank helps small businesses access financing faster with local decision-making and personalized guidance.
Explore Financing Solutions
SBA Loans (Preferred Lender Program)
As an SBA Preferred Lender, Peoples helps small businesses access financing for startup costs, business acquisitions, working capital, equipment purchases, commercial real estate, and expansion projects. SBA Loans often offer lower down payments, longer repayment terms, and flexible financing options.
Business Lines of Credit
A Business Line of Credit provides flexible access to working capital when you need it. Unlike a term loan, borrowers can draw funds, repay balances, and borrow again as business needs change. We offer customized structures to best meet your needs, flexible rates and terms, online fund transfers, check-writing access, and multi-year renewable terms.
Business owners commonly use lines of credit for:
- Seasonal cash flow fluctuations
- Inventory purchases
- Payroll expenses
- Accounts receivable gaps
- Unexpected business expenses
Commercial Real Estate Loans
Commercial Real Estate Loans offer flexible rates and terms, a one-time lump sum for purchases, disbursed funds throughout the building project for real estate construction loans, and fully amortizing and balloon payment options. A Commercial Real Estate Loan can also help you refinance existing Peoples Bank loans and loans from other lenders to obtain better terms.
Commercial Real Estate financing can be used for:
- Office buildings
- Retail properties
- Warehouses
- Manufacturing facilities
- Medical offices
- Multi-use commercial properties
USDA Business & Industry Loans
Through USDA Business & Industry Loan programs, Peoples Bank helps businesses located in eligible rural communities access financing for growth, expansion, equipment purchases, commercial real estate projects, and working capital needs. As a USDA lending partner, we offer up to 30-year terms on real estate loans, up to 15-year terms on equipment loans, fixed and variable rate options and interest-only options.
USDA financing may support:
- Manufacturers
- Agricultural businesses
- Healthcare providers
- Service businesses
- Rural economic development projects
Commercial Letters of Credit
A Commercial Letter of Credit helps facilitate domestic and international business transactions by providing assurance that payment obligations will be met. This solution can help reduce transaction risk and build confidence between buyers and sellers.
Businesses often use Commercial Letters of Credit when:
- Purchasing goods internationally
- Working with new suppliers
- Managing larger transactions
- Expanding global trade relationships
Standby Letters of Credit
A Standby Letter of Credit serves as a financial guarantee that helps businesses fulfill contractual obligations. If a customer is unable to meet agreed-upon terms, the Letter of Credit provides additional assurance to the beneficiary.
Common uses include:
- Construction projects
- Performance guarantees
- Bid bonds
- Contract obligations
- Lease agreements
Business Term Loans
Business Term Loans provide a lump-sum financing solution that is repaid over a fixed period of time. Term Loans are commonly used for major purchases and long-term investments that support business growth. With a fixed interest rate for the entire loan term length, you can enjoy predictable monthly payments.
Businesses can use term loans for:
- Business expansion
- Equipment purchases
- Renovations
- Technology upgrades
- Vehicle purchases
- Debt refinancing
A Partnership Built to Last
For over 120 years, Peoples Bank has been dedicated to helping businesses thrive. Our business and commercial bankers understand there is no one-size-fits-all approach to financing. We listen closely, identify your needs, and then customize financial solutions to best support those goals.
They are more than just financial experts – they’re committed advisors who are here to support and celebrate your success. We’re here to help you piece together every aspect of your financial puzzle, supporting your vision with a partnership built to last.
Equipment Financing
Finance equipment, technology, vehicles, and more. Fast approvals and flexible solutions help you acquire the equipment you need without disrupting cash flow.
Treasury Management
Pair your business loan or line of credit with Treasury Management solutions that help streamline collections, payments, fraud prevention, and liquidity management.
Peoples Insurance Agency1
From commercial property and liability insurance to workers’ compensation and cyber coverage, protect the business you’re building with coverage from Peoples Insurance Agency.
Equipment Leasing
Explore customized equipment leasing for technology and technology-related equipment for education, healthcare, manufacturing, and more.
Premium Financing
Instead of paying large annual insurance premiums upfront, businesses can spread payments over time, keeping working capital available for day-to-day needs.
Workplace Banking
Help attract and retain employees with Workplace Banking benefits that provide convenient banking services and financial wellness resources.
Apply for a Business Loan or Line of Credit
Tell us a little more about your business in the form below, and we will reach out to you to get started.
Frequently Asked Questions
What makes Peoples Bank different from other lenders?
Peoples Bank offers a full range of financing and banking solutions that can support the overall well-being of your business. Business owners benefit from local decision-making, experienced lenders, personalized service, and a relationship-focused approach designed to support long-term business success.
What is the difference between a business loan and a line of credit?
A business loan provides a lump sum of money that is repaid over a set period with fixed or scheduled payments. A business line of credit gives you access to a revolving pool of funds you can draw from, repay, and use again as needed. Businesses often use loans for major purchases or expansion projects, while lines of credit are commonly used to manage cash flow, inventory purchases, or unexpected expenses.
How do SBA Loans work?
SBA Loans are business loans partially guaranteed by the U.S. Small Business Administration. SBA Loans can be used for working capital, business acquisitions, equipment purchases, commercial real estate, refinancing existing debt, and business expansion. These loans can offer better terms, lower down payment requirements, and longer repayment periods than some conventional financing options.
How much can I borrow through an SBA loan?
The amount you may qualify to borrow depends on several factors, including the type of SBA loan, your business’s financial condition, project costs, collateral, and repayment ability. At Peoples Bank, our lenders can help evaluate your financing needs and determine the most appropriate loan structure for your business goals.
Why choose an SBA Preferred Lender?
As an SBA Preferred Lender, Peoples Bank has the authority to make many lending decisions directly, which can help streamline the financing process. This allows borrowers to work closely with experienced Peoples Bank lenders who understand their business needs and can guide them through the SBA loan process from application to closing.
Which business financing solution is right for me?
We understand there is no one-size-fits-all approach to financing, and the best solution depends on your goals. Peoples Bank lenders work with business owners to evaluate their needs and recommend options that align with their objectives.
How quickly can I receive funding?
Funding timelines vary based on the loan type and required documentation. Your Peoples Bank lender can provide guidance on expected timelines and keep the process moving efficiently.
Can startup businesses qualify for financing?
Yes. Financing options may be available for startup businesses depending on factors such as the business plan, industry, available collateral, and owner experience. Startup financing may include SBA loans, equipment financing, business lines of credit, or other customized lending solutions. Contact Peoples Bank to speak with a business banker and explore options specified to your needs.
What can equipment financing be used for?
Equipment financing can be used to purchase a wide range of business assets, including vehicles, construction equipment, manufacturing machinery, medical equipment, technology, and other business tools. Financing helps businesses acquire the equipment they need while preserving working capital for day-to-day operations.
Are USDA business loans only for farms?
USA Business & Industry Loans can support many types of businesses located in eligible rural areas. In addition to agricultural operations, manufacturers, healthcare providers, retailers, and other enterprises may qualify for USDA-backed financing to support growth, equipment purchases, and real estate projects.
Recognized Nationally – Invested Locally
Our recognitions are a reflection of the expertise and commitment of Peoples Bank. Experience a bank that puts people, relationships, and communities first.
All loans are subject to application and credit approval.
1INSURANCE PRODUCTS ARE NOT FDIC INSURED, NOT GUARANTEED BY PEOPLES BANK, NOT A DEPOSIT, AND NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY, MAY GO DOWN IN VALUE.