BUSINESS LOANS
Running a successful business is demanding. At Caro, we can help you with a number of smart solutions that include business checking accounts and a variety of lending options that can help finance the things in your business that keep you growing.
We think of your business as a trusting relationship – not just a transaction. Our dedicated business professional Stacy Peake has over 20 years of experience in the area of retail and commercial lending.
Reach out to Stacy by filling out the form below, or call his office directly at 803.227.5501 or mobile at 803.414.7510.
Small business owner? There are resources to help you through this challenging time. Click here, click on the button for Disaster Assistance and complete a short application and SBA will follow up with you from there.
Overview of Caro Business Services
Standard Business Checking:
- $1,000 minimum daily balance
- If balance falls below $1,000, a monthly service fee of $15 will be charged
- No per-check charges
- Up to 350 deposit items each month at no cost ($0.25 thereafter)
Business Checking:
- No minimum balance required
- $100 to open
- No per-check charges
- Up to 350 deposit items each month at no cost ($0.25 thereafter)
Business Share Certificates:
- There is a $500 minimum to open a Business Share Certificate, and the rates and terms are the same as that of our regular personal share certificates.
Business Loans and Lines of Credit
Commercial Real Estate Loan
- Purchase or refinance of Commercial or Industrial property
- Up to 25-year amortization with 1-5 year term
- Maximum LTV 80%
- Fixed or variable interest rates
Commercial Real Estate Construction Loan
- Build or renovate a commercial property
- Maximum LTV 75%
- Up to 25-year amortization with 6-18 month term
- Variable interest rate
Revolving Line of Credit
- Term: 1 year or less
- Interest only due monthly or quarterly, with all unpaid accrued interest and principal due at maturity
- Variable interest rate
Need more information?
Fill out the form.
*All loans are subject to credit approval. Rate may vary based on credit, term, and value. Loan amount minimum of $50,000. Does not apply to loans currently financed at Caro Federal Credit Union. Applicant must own a business and have been in business for three (3) or more years. Cannot be combined with any other promotions. Applicable to loans applied for between May 1 – 31, 2023. Waived fees applicable for multi-family property loans, commercial real estate loans, and business equipment loans. See credit union for details. Federally insured by NCUA.
