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 at speake@smartcaro.org or call his office directly at 803.227.5501 or mobile at 803.414.7510.

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

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