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  Financial Center Closing & Important News
Temporary Closing Read More

The Wood-Ridge Financial Center is currently closed. Please visit our nearest Financial Center located at 107 South Main Street, Lodi for your banking needs. We apologize for the temporary inconvenience.

Mariner’s Bank has joined Spencer Savings Bank.
We are excited to welcome Mariner’s customers and employees to the Spencer family. Read More

Commercial Loans from Spencer Savings Bank

Financing and Industrial financing can oftentimes be challenging. However, when partnering with the commercial lending experts at Spencer Savings Bank, the process has never been easier.

Below you will find information to help you decide what Spencer lending solution is best for your company.

Commercial Loan Types Offered by Spencer Savings Bank

Spencer Savings Bank offers specific loan programs that cater to their clients’ needs. These include:

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Local Commercial Lending Specialists

Relationship banking at its finest is our commitment to you. In all of our lending products and services, you will find a commitment to customer experience. Our lending specialists have put together the following questions and answers to help individuals in need of a commercial loan determine what Spencer solution is best for them. By taking the time to understand your lending needs, we become partners in your financial success.

What is an owner-occupied mortgage?

An owner-occupied mortgage is defined as financing of a property occupied more than 50% by an entity with an element of common ownership with that of the property-owning entity.

What is a commercial line of credit?

A commercial line of credit is a flexible, revolving loan that provides a defined amount of money to a business normally to support its working capital needs. The funds can be accessed as needed and repaid either immediately or over time.

The liquidity of a line of credit may be the perfect credit solution for your business. The flexibility of this loan lets you manage seasonal cash flow with consistent buying power. Borrow according to your company’s needs with revolving credit. Having working capital on hand to finance your business has never been easier or more affordable.

This is a great solution to have on hand so that you can take advantage of your working capital to meet your cash flow needs. Simply put, we invest our time in your money. That’s our specialty.

What is a commercial term loan?

Term loans provide a specific amount of credit to purchase assets or meet specific financing needs. The loan is paid based on a predetermined schedule or monthly principal and interest payments. This loan is great for financing machinery, equipment or company vehicle purchases, as well as a great option to consolidate debt.

Our term loans can cover your long-term financing needs, preserving your own funds. Let Spencer help determine the right term loan for you.

What is a revolver-to-term loan?

This revolving loan can help with the financing of machinery, equipment or company vehicle purchases. Interest-only is paid for the first year, allowing lower monthly payments to give your business a head start. Following this period, the loan converts into a fixed rate term loan, which can be tailored to your company’s needs.

We are here to provide personalized assistance as the needs of your business change. Let Spencer help you with your financing needs.

What is an investment property loan?

Investment property loans are ideal for borrowers that want to purchase a property specifically for the purpose of generating profit through rental income or capital gains. This loan can provide you with additional revenue sources, while also helping to build equity in your property. These long-term loans are ideal for real estate developers, investors and owners that wish to borrow from a quality lender.

To qualify for this loan type, the property must be located in the Tri-State region. Find out how an investment property loan from Spencer may be the best decision to meet your financial goals.

Contact Us Today

Juan Oelofse
SVP & Director of C&I Lending
joelofse@spencersavings.com
1-201-703-3817