RSI Bank is offering a new expedited loan program for small businesses seeking loans and lines of credit for $100,000 or less. This program is set apart from RSI Bank’s traditional commercial lending program, which serves the needs of larger or more-established businesses seeking loans for commercial real estate properties, construction projects, or large purchases of assets and equipment.
Small businesses often use working capital lines of credit to help manage cash flow, purchase inventory, pay for marketing campaigns, and for other expenses. Small business loans may be used to purchase assets like equipment or vehicles, since the term may be longer than a line of credit.
The expedited loan program for small businesses features a consolidated application, fast turnaround and local decision-making, for loans with terms of up to 5 years and lines of credit for up to 2 years. Unlike other lenders who may charge a percentage of the amount borrowed as a monthly fee, RSI Bank charges a simple one-time application fee of $125 for loans and lines of credit up to $50,000, and $250 for amounts between $50,000 and $100,000.
RSI Bank prides itself on serving the needs of small businesses with personalized solutions and long-standing relationships built on integrity and trust. With its main office in Rahway, New Jersey, RSI Bank’s decisionmakers are focused on the local market and on helping New Jersey businesses thrive.Related Articles: