"Our company wants to grow bigger and better, and to do that we need affordable financing and working capital."Contact us View document checklist
All the right funding tools to get the job done.Pittsburgh business leaders have always thought big – think about the steel mills that built the nation, and the financial empires that powered the economy. Whether your company is looking to build something special, buy new equipment, or just beef up its inventory, Clearview offers business loans at rates that make growth possible and success more probable.
- Variety of commercial loan types
- Lump sum payments and lines of credit available
- Fixed-rate and variable rate options
Key considerations before you apply for a business loan.
What types of business loans do you offer?
Term LoansTerm loans are ideal for businesses that plan to expand their facilities, purchase new equipment, finance acquisitions, refinance debt, or purchase fixed assets. We offer both fixed and variable interest rates with loan terms up to 10 years (longer if secured by real estate). Loans can be secured or unsecured. Liquid assets, such as stocks, bonds, mutual funds, certificates, real estate, titled equipment, and vehicles, or business assets like inventory, receivables, furniture, fixtures, and equipment can be used as collateral.
Lines of CreditIn need of working capital? With a line of credit, businesses can borrow, repay, and borrow again up to the maximum credit balance, until the expiration date of the line. The variable interest rate is tied to the prime rate and interest is billed monthly based on usage. Lines of credit can be unsecured or secured by short-term assets.
Commercial Real Estate LoansThis loan type is specifically for the purchase, improvement, expansion, or refinance of commercial real estate, such as a 1-4 family investment property, office buildings, manufacturing facilities, or retail buildings. We offer fixed or variable interest rates and loan terms up to 15 years with amortization to 20 years. For a commercial real estate loan, the maximum loan-to-value ratio is 80% and property serves as full or partial collateral.
Construction LoanLooking to build? A construction loan is perfect for businesses needing to fund new construction or expand physical facilities. This loan type is similar in terms to a commercial real estate loan, but with different down payment criteria. You’ll pay interest-only during the construction period of 6 to 18 months.
Standby Letters of CreditA standby letter of credit (SBLC) is a financing vehicle that essentially substitutes our credit strength for your company's. An SBLC is issued to third parties on behalf of your company to guarantee performance, ensure payment to suppliers, or to bond payments. We typically issue SBLCs for one year with either a specific maturity or automatic renewal. An annual fee of 1-2% applies.
What are the advantages of credit union business loans?As a credit union, we’re non-profit and without shareholders unlike most financial institutions. As a result, credit union business loans are typically offered at lower interest rates with more flexibility on payment terms. Our vision here at Clearview is to help members to enjoy a better life and it’s our goal to do that during every interaction with you!
What do I need to apply for a commercial loan?Before you apply for a business loan, view our business account checklist to help you gather the documents (EIN, agreements, etc.) you’ll need to open an account based on your business type.
- Wide range of financing options
- Competitive rates
- Flexible repayment terms