Commercial Loans
First Independence Bank offers a wide array of alternatives for small to medium sized businesses. We have diversified experience with manufacturing, governmental, retail, professional, health care, non-profits and service businesses. Whether your needs are simple or complex, First Independence Bank will work with you to design the right lending package for your business.
- Commercial Real Estate Loans – Real estate loans can help you improve, expand, refinance or purchase commercial property. Loans are customized with a wide variety of finance options, including both fixed and variable rates and various amortizations to help meet your cash flow needs.
- Term Loans – Term loans offer long-term financing for bigger investments: plant expansion, equipment or capital improvements.
- Secured Lines of Credit – A secured line of credit will help you manage your cash flow, and is great for short-term credit needs like operating expenses, working capital and seasonal purchases. Your credit line revolves throughout the year, allowing you to borrow when needed and repay part or all of the balance to manage the available credit and interest expense.
- Small Business Administration (SBA) Guaranteed Loans – SBA loans can benefit businesses that may not meet normal loan underwriting requirements. Depending on your need, we can tailor a loan to get you started or help you expand your business. Our SBA specialists will be happy to assist you with your small business needs.
Want to find out more? Ask any of our Commercial Loan Officers. Please call us at (313) 256-8400. All loans subject to credit approval.
Michigan Economic Development Corporation (MEDC) partners with First Independence Bank to provide financial support to small businesses in our communities and across the state.
Eligible Borrowers:
• Small businesses with less than 250 employees
• Collateral is required in some form on all loans
• Guarantees of owners having 20% or greater is required in all cases
• Corporations, partnerships, sole proprietorships and for-profit or non-profit businesses
Eligible business purposes include:
• Startup costs, working capital, franchise fees, and acquisition of equipment, inventory, or services used in the production, manufacturing, or delivery of business goods or services
• Purchase, renovation or improvements of an eligible place of business that is not for passive real estate investment purposes
Michigan Saves Loan
Energy Efficiency for Your Commercial Building
Making your environment more energy efficient can be easy. First Independence Bank has partnered with Michigan Saves® to offer affordable clean energy solutions. With over 150 qualifying energy efficient upgrades, you and your commercial tenant can finance improvements such as furnaces, hot water heaters, and roofs at competitive rates and terms so you can choose the payment that works for you.
To find an approved contractor, explore a list of eligible upgrades, or apply for financing, get started below:
Questions?
Please contact Lolita LeNoir at (313) 256-8420 for more information.
