Commercial Lending Options
Our Commercial Finance Team has the capacity to provide financing of $1,500,000 and higher. The People's United Bank Business Banking Team can support loan requests under $1,500,000.
Business term loans are an immediate injection of capital that is typically used for a specific purpose. Term Loans may be used for capital investment (machinery or equipment), to acquire another business, or for a permanent infusion of working capital. Term loans are also available to finance the construction, purchase, or rehabilitation of owner-occupied real estate.
Lines of Credit
Revolving Line of Credit
Provides working capital for businesses that can be drawn down and repaid at will over a specified period of time. Businesses can draw on line of credit at any time as long as they do not exceed the agreed upon limit.
Capital Expenditure Line of Credit
Provides an availability of funds that are issued to finance capital assets (typically machinery and equipment). Advances under capital expenditure lines of credit typically convert to term loans and amortize over the useful life of the asset acquired.
Seasonal Line of Credit
Provides short-term working capital to support business fluctuations. This type of facility is used to meet short term cash flow needs to fund inventory or receivables during the growth period in a business operating cycle.
Standby/Performance Letter of Credit
This type of Letter of Credit is issued to provide assurance that the bank's customer will perform its obligations to the beneficiary of the letter of credit. This type of letter of credit is issued in lieu of cash deposits, or in place of performance or bid bonds in international as well as the domestic market. They have been used to support promissory notes, accounts payable and also installment payments and sales.