MILWAUKEE, April 11, 2014 /PRNewswire/ -- In response to customers and their changing business needs, Bank Mutual is pleased to announce the offering of small business loan specials, now through Friday, May 9, 2014.
"The specials are consistent with Bank Mutual's dedication to providing solutions for local business though the good times and bad for over 120 years," says Terry Anderegg, Bank Mutual's Senior Vice President of Retail Banking. "Bank Mutual has developed unique, highly competitive loan specials to help propel businesses forward. These loan options make starting and growing small business easier than ever. In addition, our experts work with local businesses to help customize solutions to best suit their unique needs."
New small business loan customers can choose between a term loan or line of credit with loan amounts ranging from $25,000 to $250,000. Line of credit features include a 12-month maximum term, interest-only payments, and no prepayment penalty. Term notes can be used for purchasing real estate, equipment and used vehicles, and have a maximum amortization on real estate of 20 years.
Rates* for loan amounts ranging from $25,000 – $49,999 include Prime plus 2.00% for lines of credit; 3.99% or 4.99% for term loans 36 or 60 months respectively; and 4.50% or 5.25% for new vehicle loans. In addition, rates for loan amounts ranging $50,000 – $250,000 include Prime plus 1.00% for lines of credit; 3.49% or 3.99% for term loans 36 or 60 months respectively; and 4.50% or 5.25% for new vehicle loans. Applying for a Bank Mutual small business loan is fast and convenient.Bank Mutual offers an array of small business solutions including powerful, customizable checking accounts, Business Online Banking and Bill Pay, merchant services, business credit cards, international services, and more.