Our commercial lenders are knowledgeable and live and work in the communities we service. As a Community bank, we understand the unique needs of your business and are ready to service those needs. Loans are granted only upon approved credit, taking into consideration safety and soundness of the Bank’s operation and quality of a particular loan. Our market areas are Manatee, Sarasota, Hillsborough, Pinellas and Pasco Counties. We offer the following types of loans:
- Commercial and Industrial Loans
-
Commercial Real Estate Loans
- Owner Occupied
- Income Property
- Construction
Meet our Lenders
Christopher J. Kneer, Vice President of Commercial Lending, specializes in both conventional and SBA loans to small businesses in the greater Tampa Bay area. He is a graduate of the prestigious Stonier Graduate School of Banking and is an active member of the Tampa Connection, a civic leadership organization. Mr. Kneer has been with the Bank since 1999.
Robert W. Covington, Jr., Senior Vice President, and Senior Commercial Lender for the Tampa area, also has an extensive commercial banking career in lending and senior management. A native of Tampa Bay, he has served on the board of trustees for the Make a Wish Foundation, and the Humana Community Hospital. Mr. Covington has been with the Bank since 1998.
John J. Hanlon, Assistant Vice President, SBA Lending, specializes in both conventional and SBA loans to small business in the Manatee and Sarasota area. He graduated from Bowling Green State University with an MBA. He is a graduate of Leadership Manatee and is active in the Manatee Chamber of Commerce. He currently serves as a Board Member of the Palmetto North County Enterprise Zone Development Agency. Mr. Hanlon has been with the Bank since 2004.
- Small Business Loans
- SBA Guaranteed Loans
What Is An SBA Loan?
SBA loans are loans to small businesses that are guaranteed by the Small Business Administration, an independent federal agency. These loans are made to help small companies get started, expand, and prosper.
What Is A "Small" Business?
SBA defines a small business as one that is independently owned and operated, is not dominant in its field, and which meets the following criteria (stated in maximums):
| Type of Business | Size |
| Service | $5 - $21 million |
| Retail | $5 - $21 million |
| Wholesale | Up to 100 Employees |
| Manufacturing | Up to 500 Employees |
Most businesses are eligible for SBA loans with the exception of non-profit groups, real estate investment firms, leasing and finance companies, and affiliates of a large business.
Why An SBA Loan?
Many small businesses need longer term loans in order to prosper through economic ups and downs. Commercial lenders typically offer short term loans with a balloon payment at the end. A longer term loan available through SBA enables your business to:
- lower monthly payments
- improve business cash flow
- eliminate the worry of a balloon payment
- no need to refinance
- no prepayment penalties
What Can An SBA Loan Be Used For?
SBA Loans can be used for a wide variety of business purposes, including:
- construction of facilities
- purchase land or buildings
- expand or modernize
- purchase machinery or equipment
- purchase a business
- refinance debts
- finance accounts
- receivables and inventory growth
What Are The Credit Requirements?
- Management must have sufficient expertise in the field to successfully operate the business.
- The business owner must have a reasonable amount of his or her own money invested in the business.
- Demonstrate that the past earnings record and probable future earnings will be sufficient to repay the loan.
- Owners must pledge sufficient assets to secure the loan. Personal guarantees are required. Liens on personal assets of the principals may also be required if business collateral is inadequate.
- Owners, partners, principal stockholders, officers, and managers must be of good character.
How Much Can A Business Borrow?
Community Bank will lend from $50,000 to $2,000,000 under the SBA Guaranteed Loan program.
What Terms Are Available?
Typically the terms of an SBA Guaranteed Loan are based on the uses of the loan proceeds.
| Up to 25 Years: |
Refinance Real Estate; Purchase of land and or building |
| Up to 10 Years: | Purchase of machinery, equipment, furniture and fixtures |
| 7 to 10 Years: |
Purchase of inventory; Pay off or consolidate debts |
| 5 to 7 Years: | Provide working capital |
Terms may be blended to accommodate multiple purposes.
Why Choose Community Bank For Your SBA Loan?
The current lending staff continues to lend through the SBA and is among the top SBA lenders in our area.
SEE IF SBA IS THE WAY FOR YOUR SMALL BUSINESS TO BORROW. CALL TODAY TO SCHEDULE YOUR FREE ANAYLSIS.
In Hillsborough County, call Chris at 813-258-8187
In Manatee County, call John at 941-756-0099 or Toll Free 877-266-2265
Any reference to credit balances, borrowing, or loans is subject to credit approval.
Small Business Administration http://www.sba.gov/
