Small Business Loans

A commercial loan is a bank loan that's specifically designed and earmarked for business purposes. Unlike many other types of loans, commercial loans can only be used to fund business-related expenses, from company acquisition or expansion to purchasing new equipment to help a business stay competitive.

At West Plains Bank and Trust Company, we offer a variety of commercial bank loan options to meet the needs of any business client.

Commercial loans differ from personal loans in several key ways:

The Purpose of the Loan: Commercial loans are provided only for business-related expenses like purchasing equipment, ongoing lines of credit or acquiring an established company. As the name suggests, personal loans are for a borrower's individual needs.

Loan Terms: Commercial loans usually have different terms, stipulations and conditions than other types of loans, including different interest rates, collateral requirements and repayment schedules that are tailored to the individual business.

Qualification Criteria: Securing a business loan usually involves sharing financial details about not only yourself but also your business to determine if you or your company meet certain minimum requirements. Factors that may be considered include the business' overall financial health, the borrower's personal and business credit history, the availability of collateral, the company's potential for future growth and profitability and more.

We offer a range of commercial loan products to support your business goals, including:

Business Acquisition Loans: Got your eye on an established business or potential franchising opportunity you think could be a winner? Business acquisition loans are ideal for buying a business or franchise, and can quickly get you in the driver's seat of your next opportunity.

Business Line of Credit: Similar to a credit card, a business line of credit provides flexible access to funds up to a certain amount for issues like managing cash flow or covering unexpected expenses. You can spend as much as you need for business purposes up to the preset limit, and only pay interest on what you spend.

Fixed-Asset Purchase Lines: Investing in your business is a great strategy for long-term growth. Fixed-Asset Purchase Lines from West Plains Bank and Trust Company are designed to help finance the purchase of long-term business assets like equipment, machinery, technology, infrastructure expansion and more.

Ready to get started? Contact one of our local loan officers or apply today.

Depending on what type it is, commercial loans from West Plains Bank and Trust Company can be used for a wide variety of business-related purposes, including:

There are many factors that go into determining which business loan is right for your needs. Ready to learn more? Visit any of our five convenient locations, or contact a live, local banker for full details.

Everybody has to start somewhere! For dozens of successful local business owners, that starting place has been West Plains Bank and Trust Company. Even if you've never owned or run a business, you may still qualify for a commercial loan. Factors we consider during the process usually include:

Creditworthiness: Creditworthiness is an educated assessment of how likely it is that a borrower will be able to pay back a loan. This consideration takes into account a range of factors, including your past borrowing and loan-repayment efforts and requires a detailed analysis of the credit history of both the business and owner(s).

Your Business Plan: When seeking funds for expansion or to start a new company, a carefully-considered business plan is crucial. Thoughtful, clear-eyed planning that considers the factors working both for and against business success can go a long way toward demonstrating the potential for growth and the likelihood of loan repayment.

Collateral: Collateral refers to valuable assets that can be used to back up a business loan, and which may be forfeited to the lender if the loan can't be repaid. Examples of collateral might include land, commercial property, heavy equipment, business-related machinery and more. These assets will be carefully evaluated to determine how much can be loaned against them.

Your Existing Business' Financial Health: If you're seeking funds to expand or support an existing business, we'll usually make a thorough review of the company's financial health before granting a business loan. Factors that may be considered include annual revenue and expenses, profitability over time, local competition and more. If things aren't going so well, don't worry! We'll look not only at where you are now, but where you could go with our financial help.

Our loan officers at West Plains Bank and Trust Company are committed to the growth of our community and economy. We're here to help you understand commercial loan requirements step by step. Visit one of our five convenient locations or get started right now by pressing the button below.

Choosing West Plains Bank and Trust Company for your business loan offers several advantages:

Personalized Service: Our loan officers aren't on the other side of the country, they're right across town -- local residents who understand our community, its needs and factors that shape the business landscape.

Flexible Solutions: No business is one-size-fits all. From business lines of credit to acquisition loans, we offer tailored lending options to meet the specific needs of your unique business.

A Commitment to Small Businesses: Big banks are often looking for big returns. At West Plains Bank and Trust Company, we're dedicated to helping local businesses owners who provide jobs right here at home.

Community Investment: By banking locally with West Plains Bank and Trust Company to help grow a business, you're contributing to the economic growth of our community and the financial stability of people just like you.