Collinsville Savings Society - Since 1855
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Business Loans

CSS realizes how vital credit is to the needs of local businesses. We are committed to meeting those needs while delivering superior customer service. We differentiate ourselves further from our competition by offering flexible loan packages on a personalized basis via a knowledgeable and local lending staff.

So whether your financing needs are for working capital, equipment financing, commercial real estate or acquisition financing, CSS is the right choice. Give us a call at 860-693-6936.
  • Business Line of Credit
  • Business Term Loans
  • Commercial Mortgages / Construction Loans
  • Other Loan Resources

These loans are available to bridge cash flow timing differences arising from your short-term working capital needs. They provide cash during periods of peak cash demand such as during inventory build-up or seasonal slowness. The lines are typically secured by current assets and repayment is within one year.

The line of credit is easily accessed and funds are deposited into your CSS Heritage Business Checking Account. You can use the line for several small advances or a single large one and you can repay in stages.

Term Loans are generally used to finance equipment purchases, expansions or acquisitions. Their repayment is typically tied to the depreciation life of the asset financed and the business's ability to generate cash flow to repay the loan. Repayment therefore is over several operating cycles or years.

The interest rate can be fixed or variable with principal and interest payments typically repaid monthly. The loans are secured by the asset being financed.

CSS offers commercial mortgages for the purchase of commercial real estate or the refinance of an existing commercial mortgage. Loans are based on the value of the property to be financed and the projected cash flow from the property over the life of the loan. The loan to value is typically 75%.

We also provide construction financing when your business is ready to build or expand. Loan proceeds are advanced in stages during construction based on completed work. The staged advances reduce the interest expense and it maintains the loan balance at or near the value of the property securing it. The construction loan is typically rolled over into a commercial mortgage when the project is complete.

For additional information, please contact Betsy Kelly or Lori Heath at 860-693-6936.