Lending Solutions

Discovery Bank is proud to provide you and your business with a consultative approach to business banking. Not only do we provide our clients with a wide variety of checking, savings and cash management services, but we also offer unique lending solutions that are sure to help their businesses grow and prosper.

Discovery Bank offers the following types of Personal & Commercial Loans. To learn more about the benefits and requirements of these services, please click on the lending options below:

• Short-Term Secured and Unsecured Loans

Maximum Term	Two years or less
Collateral	Unsecured or secured by current business assets
Repayment Terms	Monthly payments of principal and interest on any outstanding balance
Rates	Variable; generally based on the Wall Street Journal Prime Rate plus a Bank determined spread
Guarantee	Loans to privately held corporations require the personal guarantee of all principals holding 20% or greater ownership interest.

• Lines of Credit

Maximum Term	One year or less
Collateral	Unsecured or secured by current assets
Repayment Terms	Monthly interest payments, with the principal due upon maturity
Rates	Variable; generally based on the Wall Street Journal Prime Rate plus a Bank determined spread
Guarantee	Loans to privately held corporations require the personal guarantee of all principals holding 20% or greater ownership interest.

• Equipment financing

Maximum Term	Up to seven years, based on the expected life of the equipment
Collateral	Secured by the specific asset(s) to be financed
Repayment Terms	Monthly payments of principal and interest, fully amortized
Advance Rates	New Equipment: Up to 80% of purchase price
	Used Equipment: Lesser of 75% of purchase price, or up to 100% of the forced liquidation value as determined by a Bank approved appraiser.
Rates	Variable; generally based on the Wall Street Journal Prime Rate plus a Bank determined spread
Guarantee	Loans to privately held corporations require the personal guarantee of all principals holding 20% or greater ownership interest.

• Vehicle loans

Maximum Amount	$100,000.00
Maximum Term	Up to 72 months on new vehicles and up to 60 months on used vehicles
Collateral	Title on subject vehicle
Repayment Terms	Monthly payments of principal and interest, fully amortized
Advance Rates	New Vehicle: Up to 100% of purchase price
	Used Vehicle: Up to 80% of purchase price
Rates	Fixed
Guarantee	Loans to privately held corporations require the personal guarantee of all principals holding 20% or greater ownership interest.

• Asset Based Loans
• SBA Loans
• Construction Loans
• Land Loans
• Commercial Real Estate Loans
• Mortgage Loans
• Home Equity Loans

If you are interested in discovering how our financing solutions can benefit you and your business, please contact Discovery Bank today!