Business Banking ·
We understand that getting funding quickly for your business can save you valuable time and money. We offer a variety of business loans to help your business get moving and reach its goals. Plus, your business loan is processed and maintained in your local office which means you can always get the answers you need quickly.
We value relationships and the communities we serve. Friendly and local, our approach to banking is guided by the personal relationships we build with our clients. At Central Bank you get the modern banking products and services you need with the service and responsiveness only a community bank can offer. Let us show you just how good banking can be. Download our Business Loans PDF Info Sheet here.
Commercial Real Estate Loans
Partner with our experts on any of your commercial real estate loans and experience why we’re consistently voted “Best Bank in Utah Valley.”
As your business expands, it will need to meet increasing demands for optimal performance, deadlines, and production. An equipment loan may be the ideal solution to keep your business performing optimally.
Business Lines of Credit
Manage your cash flow, fund your seasonal inventory needs, or pay for an unexpected expense with a business line of credit. Apply today and only pay interest on the funds you use.
Business Credit Card
With a Central Bank Visa Business Credit Card, you get a low fixed rate, rewards options, no annual account fee, and the purchasing power you need to help your business be successful. Businesses can receive multiple cards and have the ability to set varying credit limits on each employee’s card.
Small Business Administration (SBA) Loans
If you are looking for funding for your small business, we can assist you. We’ve been helping Utah’s small businesses succeed since 1891.
Thinking about a Business Loan?
Visit with a loan officer at one of our local Central Bank offices or simply apply here to get started on your business loan today. Meeting with a loan officer helps both parties better understand your business. It’s also a good opportunity for you to ask questions about the loan process and get a consultation as needed.
When you work with one of our loan officers, they will ask you for some financial documents. This financial information helps them learn more about your business and understand its financial needs. After reviewing your businesses financials and loan application, a decision on your business loan will be made. Depending on the loan amount, it can either be conveniently approved right there in the office or it will go to our local Loan Committee for a decision. Our Loan Committee meets twice a week and allows us to make quick lending decisions that result in an expedited turnaround time for your loan.
How much do you need to put down for a Business Loan?
Each business loan is different and the amount of cash or equity you will need is based on the collateral type and lending risk associated with the loan. Lower cash-down loan options, which are typically backed by the Small Business Administration (SBA), are also available.
What can prevent you from getting a Business Loan?
Missing a payment with another lender is one of the biggest barriers that can prevent you from getting approved for a business loan. Keeping your credit history as clean as possible and staying on top of your loan payments is a large contributing factor that will help you get approved for a business loan.
It’s important to stay current on your debt payments with lenders and continue to grow the liquidity (cash reserves) of your business. Cash reserves will help when you need a down payment for a loan. It will also help you during an economic downturn because you won’t have to rely too heavily on debt.