Commercial Loans
No matter what the size of your business, we can help.
The Commercial Lending Department offers both a variety of services and a staff of experienced bankers, all with the goal of meeting the needs of our business clients. We offer products for businesses of various sizes and deliver them with the kind of personal touch that you expect from your community banker. We understand how important it is to work with a business to design the right mix of services. Creating a strong working relationship that helps a business grow and prosper is a goal we share with all business owners.
Our commercial loan officers have the experience and resources they need to help you. They also know that your time is valuable. They work very hard to make the banking relationship a reliable and trusted resource for your business.
| Loan Officer Name | Phone | |
|---|---|---|
| Jim Bomberg | 414-235-5893 | jbomberg@pyramaxbank.com |
| Mike Bradburn | 414-235-5923 | mbradburn@pyramaxbank.com |
| Eric Hurd | 414-235-5894 | ehurd@pyramaxbank.com |
| David Rosenwald | 414-235-5853 | drosenwald@pyramaxbank.com |
| Jack Spoerl | 414-235-5326 | jspoerl@pyramaxbank.com |
Commercial loans are available for a variety of uses. Loan terms, payments, and other requirements are structured to fit the use of the loan proceeds, cash flow of the business, and collateral to be used.
- Term Loan: A term loan usually has a regular monthly payment. The interest rate can be fixed or variable. The amount borrowed may be fully repaid during the loan term, or the loan may include a balloon payment because the amortization term is longer than the note term. Term loans are commonly used to:
- Purchase or refinance machinery, equipment and vehicles
- Purchase or refinance real estate
- Start, purchase or expand a business
- Invest additional capital in a business
- Line of Credit: This is a revolving loan with a maximum limit. Loan proceeds can be drawn and repaid as needed during the term of the loan. The interest rate is usually variable with interest payments due each month. Common uses include:
- Support for daily or seasonal changes in business cash flow
- Working capital for timing differences in the normal business cash flow cycle
- Temporary capital needs that will be repaid by an identified future source of funds
- Single Payment Loan: All principal and interest is due in a single payment on the maturity date. The interest rate can be either fixed or variable. They are normally used for short term, single purpose needs. Examples include:
- Support the cash flow requirements for an order or transaction that is much larger than typical for a business
- Complete the purchase of an asset that will be paid for with the proceeds from a future asset sale
- Guarantee payments to suppliers
- Guarantee performance of a developer's agreement
- Provide a performance bond for public works contracts
Letter of Credit: This is a document given to a third party to guarantee performance under an agreement or the payment for goods or services. The terms normally include a variable interest rate and a maturity of one year or less. They can be used as follows:
