Business Banking
Your Partner in Business Success
At CommunityAmerica, we are dedicated to empowering businesses, large and small, to achieve their full potential. We understand the unique challenges you face and offer personalized, trust-based advice to meet your specific financial needs.
As your committed banking partner, we prioritize your success without the influence of distant shareholders or out-of-town loan committees. Our decisions are made by people who genuinely care about your business. With over 30 convenient locations and counting, managing your business finances has never been easier.
Banking Built For Your Business
Prefer to talk it over? Give us a call.
800.892.7957Invested In You
Nell Hill's
When Katie Laughridge found out Nell Hill’s - a home décor store she loved - was for sale, there was no turning back. As her financial partner, CommunityAmerica and our new SBA Preferred Lender Status has helped Katie realize her dream and so much more.
Small Business Resources
Business Loan FAQs
Since various loan programs have different requirements for eligibility, the best way to know if you will qualify is to talk to a Relationship Manager. They can help you determine which loans and/or programs fit your business and situation.
Not all loans require co-guarantors, but your lender may ask that someone else co-sign to increase the strength of the loan. Any co-signer would likely be required to pledge a personal guaranty regardless of their ownership in the business.
Whether you need an SBA loan depends on your business’s financial situation and available collateral. While the SBA requires a formal application, it doesn’t lend directly — CommunityAmerica provides the loan, and the SBA guarantees it in case of loss. Your Relationship Manager can help determine if an SBA loan is the best fit for your business needs. Click here for more information on SBA loans.
It depends on your loan program and your personal situation. There are scenarios where pledging personal real estate as collateral may be a requirement, including when the loan is above a certain amount or the transaction is under-collateralized.
Small business Loan collateral- SBA rates and terms may be different than their conventional counterparts. Interest rates are set by several factors, including the transaction type, transaction risk, and length of the loan. Click here for more information on SBA loans.
To help you feel prepared, here’s a quick look at each step in the business loan process with CommunityAmerica.
- Talk to a Commercial Manager - Meet with a Relationship Manager to discuss your business needs and find the best loan option.
- Apply - Complete a Commercial Loan Application and submit your documents — your Relationship Manager can help with every step.
- Pre-Screening - This step involves an initial review of your application and a non-binding term sheet to decide if moving forward makes sense for everyone.
- Underwriting - The underwriting team reviews your credit and documentation, may request third-party reports or additional information, and gathers any program-specific materials if you’re applying for an SBA or KCCEF loan.
- Decision - At this stage, your loan application is reviewed for approval or denial.
- Processing - If your loan is approved, you’ll provide insurance details, down payment verification, and any third-party documents, after which closing and SBA funding documents will be prepared.
- Closing/Funding - Execution of loan documents and your loan is funded. Congratulations!
