Clear Lake Bank & Trust Company: Commercial & Small Business Loans

Commercial & Small Business Loans

Many changes are occurring within the business community and banking industry. Businesses have experienced changes in their banking relationships either through banks changing names, changing personnel, or changing lending philosophies. A business owner does not want to be concerned with changes in their banking relationship and how it may effect their business.

At Clear Lake Bank & Trust Company, we are proud of our long and successful commitment to the North Iowa business community. We are dedicated to serving the needs of local businesses. Clear Lake Bank & Trust has been locally owned and operated since 1934. We feel it is important for business owners to know whom they are doing business with and that the same people will be there to serve their company’s needs for the long term. We realize our success is supported by the underlying success of our customers.

Clear Lake Bank & Trust Company operates under the principal that banks should care about the people they serve. We offer an extensive line of products and services to help business owners manage their business. The bank’s team of business bankers are skilled in matching the appropriate products to your individual business needs. We support businesses of all sizes and offer products and services customized to each business’ needs. We are proud of our reputation as a business and community friendly bank. We want to go beyond being your banker, we want to become an effective “partner” of your management team.

Applying for a business loan is easy at Clear Lake Bank & Trust Company. Experience the difference of a locally owned community bank. We offer local loan decisions with professional and confidential service.

LOAN PRODUCTS:

Working Capital Financing – Short-term loans to support growth within a company.

Line of credit to support accounts receivable and inventory.
Seasonal line of credit to support temporary spike in working capital needs.
Line of credit to support a specific contract.

Term Loans – Financing for equipment and real estate purchases.

Machinery and Equipment.
Rolling Stock & Vehicles.
Capital Assets.
Commercial Real Estate Acquisition.
Construction Loans.
Expansion Loans.

Letters of Credit – These are issued to support our customers’ trade activities.

Small Business Administration (SBA) Loans

Low Doc Program
7(a) Guaranty Program
504 Loan Program

Typical information needed to process a business loan:

Existing Business:

Last three years of fiscal year end balance sheets and income statements.
Most recent interim balance sheet and income statement.
Signed personal financial statement(s) of the business owner(s)
Last two years of federal tax returns on the business.

Business Acquisition:

All financial information previously listed.

Projections for at least one year including cash flow, balance sheet, and income statement.

Copy of executed purchase agreement.

Our Ag and Commercial Banking Staff

Paul Stevenson
Sr. Vice President
Commercial Banking

Marc Younge
Vice President
Ag/Commercial Banking

Todd Kirkpatrick
Vice President
Commercial Banking

Christ Deets

Joan Hanson
Commercial Banking
Officer/Credit Analyst

Chris Deets
Assistant Vice President
Commercial Banking

Amy Hogg
Ag/Commercial
Banking Assistant

Pam Braget
Commercial/Ag
Banking Support

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