Loans

Whether your company requires funds for day-to-day operations, seasonal cash flow, expansion, or other business needs, you can count on Katahdin Trust Company for specialized help. Because we're a local, independent community bank and a small business ourselves, we understand the needs of small business owners. At Katahdin Trust Company we're committed to small business. For five consecutive years Katahdin Trust Company was recognized nationally by the Small Business Administration (SBA) as a "Small Business Friendly" bank. Let us put our expertise to work for you.

Let Katahdin Trust Company assist your business with these lending services:

Term Loans

This type of loan is designed to fit the needs of short or long term financing for expansion, equipment purchases, refinancing of present debt, or other needs. Fixed and variable rates are available with flexible repayment options.

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Mortgages

This type of loan is designed for business customers who desire financing for a new location, an addition, an expansion, or the refinancing of an existing commercial mortgage. Flexible repayment options and various rate plans are available including fixed, variable, convertible, and balloon payments.

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Lines of Credit

This type of loan provides a convenient method of financing with immediate access to cash. Working capital lines of credit are ideal for the business whose growth and seasonal fluctuation affect its cash flow needs. Revolving equipment lines of credit provide flexible term financing for the machinery and equipment needs of the business. A construction line of credit provides financing assistance for the construction of new facilities.

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Visa^® Business Card

From travel expense, meals and entertainment, to purchasing supplies or anything in between, a Visa^® Business Card will help your business save time, increase record keeping efficiency, and improve budgeting. The Katahdin Trust Company Visa^® Business Card is accepted at thousands of locations around the world providing convenience for your business travel needs. Each month you'll receive an itemized statement of expenses incurred on each employee card.

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Accounts Receivable Financing

Our Business Manager^® accounts receivable financing program enables you to improve the cash flow of your business. With Business Manager, the bank buys your receivables and takes over the responsibilities for billing your customers and collecting their payments. You get your cash from your receivables immediately, without having to wait a month or more for payment. Business Manager is designed for all types of businesses, from manufacturers to retailers, from doctors and dentists to wholesale distributors.

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Letters of Credit

This service enables a business customer to establish credit with its suppliers. For businesses that buy goods on credit, or enter into a contract requiring a bond or deposit, a letter of credit from Katahdin Trust Company can facilitate the transaction.

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Municipal Loans

This type of lending to municipalities is traditionally made in anticipation of the entity receiving revenue through taxes, the sale of bonds, etc. or operating funds from governmental units. Other uses include long term loans to support fixed asset acquisition such as operating equipment, buildings, solid waste systems, etc.

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Agency Guaranteed Programs

In some instances traditional business loans might not be appropriate for your business. That's why we provide options. A Katahdin Trust Company Commercial Services Officer can help you decide if this type of financing would work for your business. Guaranteed loan programs are provided by the U.S. Small Business Administration (SBA), Rural Development (RD), Farm Services Agency (FSA), Finance Authority of Maine (FAME), Potato Marketing Improvement Fund (PMIF), Northern Maine Development Commission (NMDC), and various local community development agencies.

You may also find our useful links section helpful in obtaining pertinent information for your business.

To have a Commercial Services Officer help you design a plan to fit your business needs contact us online, stop by or call your local branch, or toll free at 1-800-221-2542 (764-2361 in the Presque Isle dialing area).

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