Loan Center

Commercial Loans and Lines of Credit
Mercantile Bank has been ranked as one of the top banks in Illinois for loans to small businesses. We were also recently named friendliest to small business among banks in the entire state of Illinois. So what are you waiting for? Let us tailor the right combination of products and services to launch your business plan today.

Commercial Real Estate and Agriculture Loans
Our loans are both flexible and priced right, and we will explore all the funding opportunities available to you to help plan the best solution to get your project off the ground. We are the ideal loan source for purchase money or refinancing. Typically
we finance up to 80% of the appraised value or purchase price, whichever is lower. Terms are generally 15 years with the ability to amortize to 20 years. And, not only do we offer conventional bank financing, we also have experience with SBA and other agencies as well as bond issues.

Equipment Loans and Leasing Program
Are you expanding or do you need to update your equipment? Let us put together a loan package that will help grow your business. Loan term depends upon the life cycle of the asset being purchased. Down payments vary but typically are 20% of the purchase price. Payment intervals can be set according to the cash flows of your business. If leasing is a better strategy for your business, Mercantile partners with M&I to offer a variety of financing options.

Lines of Credit

• Operating--An Operating Line of Credit is designed to give your business the greatest flexibility when it comes to cash flow. It is set up for a period of one year, and requires monthly interest payments with principal repayment at the business’ discretion.

• Borrowing Base--A Borrowing Base Line of Credit takes the Operating Line of Credit one step further. Principal advances are tied to an asset or assets of the business. This allows for a shortened cash cycle and greater control of cash flow.

• Seasonal--A Seasonal Line of Credit can be customized to match the seasonal demands and changes of your business.

Executive Edition Visa
Much more than just a credit card, it’s a card that allows you to take care of business. Our Executive Edition Visa offers a low, competitive APR and no annual fee, and you will receive a 25 day interest-free grace period on new purchases. We can issue an Executive Edition VISA to your selected staff and customize management reports that track all expenditures separated by division, department and even employees on one easy-to-read monthly statement.