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When you're considering major equipment purchases, our Business Installment loans give you a standard monthly payment that can be incorporated into your company's budget. They're ideal when you need fixed-asset financing for machinery, office equipment or a new vehicle.
Advantages
- Designed to meet the long term financing needs of small businesses
- Appropriate for equipment, machinery, and vehicle purchases
- Flexible rate and term options are available
- Monthly payments are automatically deducted from your Bank of America business checking account.
Qualify
- Your business must be at least two years old
- You and your business must have a good credit record
- All owners with 20% or greater interest must apply and guaranty the loan
- Management team must be experienced
- Demonstrate sustainable earnings and cash flow
- Business and guarantors must reside in the Chicagoland area, in Michigan or Northwest Indiana
Financing
- Secured Business Installment Loans for amounts over $50,000.
Generally, up to a five year term.
Next Steps
- Learn more, call us toll-free at (800) 295-0068
- Apply at any Banking Center
When applying for a loan amount over
$50,000 with Bank of America, the
following items must be submitted with an application*:
- Last two fiscal year-end business financial statements prepared by your
Certified Public Accountant, or signed Federal tax returns for
the last two fiscal years
- Year-to-date interim financial statement for the business
- Owners/partners (20% or greater interest) personal tax returns
for the last two years, including all schedules
*Additional information may be requested upon
receipt of your application.
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N.A., LaSalle Bank N.A., and LaSalle Bank Midwest N.A. Members FDIC.
Equal Housing Lenders. Equal Opportunity Lenders.
PLEASE NOTE: LaSalle products may not be able to be serviced at Bank of America banking centers or through BankofAmerica.com until late 2008. |
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