Business Borrowing

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What are my borrowing options?

Whether you are in need of funds to get your business started, or an operating line-of-credit for daily expenses, Mainstreet has convenient and low-cost business and farming financing solutions to meet your needs.

Mainstreet's experienced commercial and agricultural advisors take the time to learn about you and your

Mainstreet mastercard

Whether you are interested in a credit card that has no annual fee, gives you cash back, has a low rate, or has valuable rewards, we know one card does not fit everyone's needs which is why we offer several business credit card options.

Learn More or Apply

Line of Credit

Secure a line-of-credit today and have the peace of mind in knowing you have funds ready for planned or unexpected business needs (eliminating the need to apply for a loan each time). This product can help with day-to-day operating expenses.

Features and benefits:

  • Convenience- line of credit funds are accessible in-branch, through Online Banking, or at an ATM
  • Competitive interest rates
  • You only pay interest on the portion of the line of credit that you use
  • Flexible repayment options
  • Life, disability, and critical illness insurance, is also an available option to protect you and your loved ones
  • Varying credit limits that are based on size of your business operation

Loans

Sometimes you require a bit more cash at your disposal so you can jump-start a new business venture, purchase equipment, or even refinance an existing loan.

Features and benefits:

  • Mainstreet's business term loans are available at competitive fixed or variable interest rates for terms up to five years (with longer amortization periods available)
  • Additional payments can be made during the life of your loan and can be prepaid without penalty at any time, saving you money.
  • Life, disability, and critical illness insurance, is also an available option to protect you and your loved ones.
Learn More or Apply

Business and Farm Mortgages

Mainstreet's business and Ag mortgages are available for borrowing needs like the purchase of farm land or commercial property, farm or office equipment, building construction or renovations, to acquire additional quota, or more.

Features and benefits:

  • Low fixed and prime-based mortgage rates
  • Terms of up to 5 years (with the potential for up to 20 year amortization periods).
  • A variety of custom payment options including excellent prepayment privileges.
  • Life, disability, and critical illness insurance, is also an available option to protect you and your loved ones.

Letter of Credit

A Letter of Credit can be requested for needs like submitting bids on contracts.

Having a letter of credit may eliminate or reduce your need to prepay for products or services which would allow you to use those funds for other business needs and priorities.

Speak to your advisor to apply and secure one today.