The Century Advantage
We are not just lenders, we are partners!
Your business will benefit from fast turnaround and forward thinking because we make our decisions locally.
Find the Century loan that fits you best
Real Estate Financing: Build a Vision
Whether you are re-financing, expanding, relocating or buying a commercial building, we will customize a commercial real estate loan to fit your situation.
Business Term Loan: Support Your Business
Enjoy financing for new or used vehicles, long-term working capital, equipment, existing debt or expansion. The right equipment can mean the difference between having an edge or being left in the dust. We will help you finance what your business needs to streamline your operations, keep up with technology and stay competitive.
Line of Credit: For Business Strength
This is a great option for short-term working capital, seasonal purchases, inventory or accounts receivable financing. Our diverse credit line options provide funds for your specific operational needs.
Agri-Business: Keep Your Operations Running Smoothly
A farm operating line of credit is perfect for financing your daily business operations. We can help you purchase or refinance your farm and/or farm land with our real estate loans. A term loan is a great option for machinery and equipment, livestock and vehicle financing.
Letter of Credit: Improve Your Credit Terms
A tool that is valuable to help make growth a possibility and secure better terms with suppliers.
Government Loan Guaranty Program: Grow a Great Business
This program is a nice growth option for businesses who may not otherwise qualify for conventional bank financing. They can gain access to the credit their business needs to grow through the Small Business Administration (SBA) loan guaranty program.
*Loans are subject to credit approval.
Frequently Asked Questions
Q. What do I need to apply for a loan?
A. Do you have a business plan?
A. Know the dollar amount, type of loan you are applying for, borrowing purpose and collateral information.
A. Information about your business such as:
- Business Name and Address
- Type of business organization and year established
- Business Tax ID number
- Number of employees
A. Information about each Business owner such as:
- Name, Home Address, Social Security Number, Title, Ownership Percentage
- Personal Financial Statement and most recent Federal and State Tax Return of each owner
- Government issued photo ID (Driver’s License, US Passport, or a state-issued ID)
- Copies of the last three years business federal and state income tax returns.
Q. How does the bank determine if you qualify for a loan?
A. The Five C’s of Credit are general guidelines most banks use to determine credit worthiness.
The Five C’s of Credit are as follows:
- Capacity – repayment of the loan (most critical) and personal credit history.
- Capital – amount of money you have personally invested.
- Collateral – form of security for the loan also the secondary source of repayment if business cannot pay loan.
- Conditions – intended purpose of the loan.
- Character – personal impression you make with your potential lender.
Q. What financial information will I need to submit annually if approved for a loan?
- Personal Financial Statement
- Personal Federal and State Tax Return of borrower or guarantor.
- Corporate Tax Returns and/ or CPA prepared financial statements