As your business grows, so can your need for expanded facilities. Before making any decisions, speak with our Business Bankers and benefit from their years of experience in all phases of commercial real estate lending. If you are considering building a new facility, ask about a GSB Construction Loan.
- Financing up to 65% of the purchase price or appraised value (whichever is less)
- 5-year balloon commitment, 15-year amortization
- Interest rate is fixed during the 5-year commitment period.
- Appraisal, Phase 1 Environmental Survey, ALTA Title Insurance Policy and Survey are required ( applicant expense).
- $350 non-refundable application fee required (applied to closing fee on approved applications).
- Closing fee equal to 1/2% of amount financed ($1,000 minimum) due at loan closing.
- Monthly payments automatically debited from your GSB business checking account.
Glenview State Bank can also participate with SomerCor 504, Inc. to arrange an SBA 504 loan package. This program provides up to 90% financing for the cost of the total project, including the real estate, improvements, and some equipment. Contact a Business Banker at (847) 729-1900 for additional information.