Small Business Loans

Provident Bank offers a variety of loan options designed to fit your needs. Small business loans are intended for business purposes only and are not available for personal, family or household financing.

Small Business Commercial Mortgage – A small business commercial mortgage is for the purpose of purchasing and/or refinancing commercial properties.

When to consider a small business commercial mortgage?

• If the property you are interested in is owner-occupied or non-owner-occupied real estate*.
• If you are looking for an amortization period up to 25 years.
• If you prefer monthly payments of fixed principal and interest.

Small Business Line of Credit – A small business line of credit offers a revolving source of funds and is ideal for short-term financing needs.

When to consider a small business line of credit?

• If you need quick access to cash to cover short-term expenses.

Small Business Term Loan – A small business term loan works for both short-term or long-term financing needs on a fixed schedule.

When to consider a small business term loan?

• If you need to fund expenses such as purchasing machinery or office equipment, expanding business operations, or consolidating debt.
• If you want to receive cash upfront through one lump sum.

*Restrictions may apply for non-owner-occupied real estate.

Each small business loan option offers the following lines:

• Small Business Commercial Mortgage: $25,000 to $1,000,000*
• Small Business Line of Credit: $10,000 to $500,000
• Small Business Term Loan: $5,000 to $1,000,000

*Maximum cash out for a Non-Owner-Occupied Mortgage is $250,000

The repayment terms and uses for each small business loan are:

Small Business Commercial Mortgage

• Repayment Terms: Up to 120 months
• Purpose: Business Use Only (purchase, refinance or improvement of real estate)

Small Business Line of Credit

• Repayment Terms: 84 months
• Purpose: Business Use Only (working capital, business expansion, debt consolidation)

Small Business Term Loan

• Repayment Terms: Up to 60 months; equipment loans may be up to 84 months
• Purpose: Business Use Only (capital expenditures, equipment vehicles/long term assets, debt consolidation)

Small business loans can have either variable or fixed rates. Variable rates fluctuate and change over time based on market conditions. Fixed rates stay the same over the life of the loan, regardless of changes in the market.

Which loan interest type should you consider? This depends on how and when the funds will be used. If you are looking to use all the funds immediately, fixed rates provide the ability to plan or budget for the future with the comfort of the same monthly payment. If you are looking for an opportunity for savings, variable rates may help with the flexibility of lower payments as markets shift. The rate on a variable interest rate loan mirrors the market, which means a loan with this type of interest may have different monthly payments from one month to the next. However, in a stable economy, the payment amounts may not fluctuate significantly. However, it's best to consider your business's needs and suitability when choosing the best option for you.

The interest rates of each small business loan are:

Small Business Commercial Mortgage¹

• Interest Rate: Fixed up to 5 years, then the rate resets based on the remaining term²

Small Business Line of Credit

• Interest Rate: Variable

Small Business Term Loan

• Interest Rate: Fixed

¹1 to 4 family properties are not eligible

²Based on the remaining 5 years of term loan, payments schedule based on an amortization up to 25 years (5/10/25)

Small business loans are subject to credit approval. A company must be in business for a minimum of 2 years. Automatic deduction of the loan payment from a Provident Bank business checking account is required.

Yes, Provident Bank offers the Small Business Lending Advantage Program, providing additional rate discounts to qualified borrowers who meet business location requirements. This program does not apply to mortgages or term loans longer than 5 years.

Yes, our SBA Loans offer flexible qualification requirements, long repayment terms up to 25 years, and high borrowing limits—from $200,000 to $5 million. As an SBA Preferred Lender, we can directly approve your loan application without waiting for the Small Business Administration’s decision. This streamlined SBA loan application process will get you the money you need faster!

SBA loans are made by Provident Bank and guaranteed in part by the U.S. Small Business Administration.

You can download and complete the application and submit it to your local branch, contact a small business representative through the contact form above, or visit your local branch.