commercial loans

Banks Evaluate the 5 Cs of Credit Before Approving Commercial Loans

Commercial loans are issued to various types of business entities. These loans are typically utilized to assist in areas where short-term funding is needed immediately. These areas may include operational costs, purchasing of much-needed equipment, payroll, or to obtain items that are necessary for the processes of production and manufacturing. While obtaining this type of […]

Read More
sba loans

SBA Loans – Part 1

The core mission of the Small Business Administration (SBA) is to provide an immediate access to capital in an all-inclusive manner. Many believe that is the absolute end to the administration’s commitment to the owners of small businesses within the United States; however, it is actually only the beginning. It is a known fact that […]

Read More
sba-loans

SBA Loans – A Comprehensive Guide for Somerville National Bank’s Current and Future Clients (Part 1)

Somerville National Bank believes that it is our responsibility to provide comprehensive information to our current and future clients that will aid in their financial needs and affairs. In this series, we will be providing detailed information about Small Business Loans, which are commonly referred to as “SBA Loans” for short. Our bank is a […]

Read More