Commercial Loans
Whether you need funding for start-up or expansion, a loan can be the lifeblood of your business. We offer a number of commercial loan programs which can be tailored to your needs:

Line of Credit: This type of loan allows you to borrow up to a predetermined limit any time during the commitment period. Interest applies only to the amount you borrow.

Accounts Receivable Financing: Your accounts receivable can be pledged as loan collateral. The financial condition of your business, together with the collectability of the receivables, are also considered.

Inventory Loans: Inventory loans can be made for a percentage of your total inventory cost, with the inventory pledged as collateral. You make payments as your inventory is sold.

Term Loans: With this type of loan, you can finance major equipment or building expansion purchases which can serve as collateral. The amount and period of repayment is determined by the equipment’s economic life, the resale market, the value of the building and land, and the financial condition of your company.

Construction Loans: Similar to a line of credit, a construction loan is used to finance commercial construction projects. You draw funds as needed to pay contractors and suppliers. When the building is completed, the loan is paid off with proceeds from permanent financing. Most construction loans are granted after permanent financing has been arranged.

Residential Construction Loans: Hancock Bank offers a Residential Construction Loan that puts you one step closer towards getting your next subdivision development or homebuilding project started.

• You can borrow funds up to a predetermined amount to acquire land for development and to construct pre-sold and speculative residential construction projects.
• Residential construction loan borrowers / contractors have the capability to view statements online to review loan balances, view construction draw history, stay on track with viewable payment due dates, and much more.
• Mortgage Loans are available for the homeowners.
• Lines of credit are also available to make business cashflow easier.

SBA Loans: The Small Business Administration guarantees bank loans to businesses that might not qualify for traditional commercial loans. The availability and types of collateral are considered when the application is reviewed.

Limits of Guarantee: The U.S. Government guarantees 80% of loans up to $150,000 and 75% for loans exceeding $150,000. The maximum guarantee is $750,000.

How it Works: Hancock Bank processes your application, which is reviewed by the SBA. Once approved, Hancock Bank funds your loan. Repayment terms are flexible – up to 15 years – and based on loan use, collateral and the capabilities of the business.

Letters of Credit: The bank provides stand-by and import Letters of Credit at competitive rates. Letters of Credit are structured in a variety of ways to accommodate the customer’s needs. Loan officers can discuss this product with customers who have a need to utilize this service.

Additional Financing Options: Contact your Hancock lender for more details concerning alternative loan programs offered by Hancock Bank.

Additional Loan Guaranty Programs: Hancock Bank offers state guaranty loan programs for small businesses. Contact your local Hancock Bank lender for more details.