NorthSide Community Bank wants your business to succeed, and we offer a variety of business lending products in order to help you do so. We have the experience and knowledge that you're looking for and will work with you to find a solution that matches your needs.
Commercial Real Estate Financing
Our lenders are experience with all types of commercial real estate lending from multi family buildings to owner occupied manufacturing and investment properties to warehouse structures. Structures vary and can be tailored to meet most financing needs.
Businesses have been using lines of credit for years to meet working capital needs and/or take advantage of strategic investment opportunities. Working lines of credit are set to bridge cash flow concerns (accounts receivable financing). They typically are set for 12 month terms and borrowers may use them and repay over the course of the year. They can also be set up as a revolving line.
Asset Based Lending
Asset-based loans can be a much-needed source of capital for companies that are rapidly growing or highly leveraged. Sometimes a company simply needs that infusion of cash to get over a financial hump or prevent growth from stalling out. The loans are especially well-suited for manufacturers, distributors and service companies with a leveraged balance sheet whose seasonal needs and industry cycles often hamper their cash flow. Asset-based loans can also be used to finance acquisitions.
Letters of Credit
A letter of credit, is a written commitment by a bank issued after a request by 3rd party vendor (as an example Landlord or foreign imports) that payment will be made to the beneficiary provided that the terms and conditions stated in the LC been met, as evidenced by the presentation of specified documents. Our lenders have experience to ensure your risk is minimal.
Our term loans are structured for a specific purpose or equipment financing with a fixed rate and amortization schedule. Monthly level payments will help balance out your cash flows.
Jamie Sefton is Vice President at our Gurnee Bank and strives to be a resource for his customers and community by using his banking knowledge and local connections to help companies and individuals remove obstacles to reach their financial goals. Call Jamie at 847-244-5100.
Bill Kivit is the Vice President of the Niles location and has been with the bank since 1999. He is a relationship manager whose number one goal is to exceed the banking needs of all of the bank’s corporate and personal clients. Call Bill at 847-692-7500.
Ed Egelston is the Vice President at our Mundelein Location and is an experienced banker with a passion for helping his customers succeed. Ed is able to formalize his customer’s needs and find the best solution. Call Ed at 847-837-8883.
Jane Shifrin is Vice President at our Riverwoods Bank and is a banking professional providing clients with smart solutions for financial success. Jane has been in the banking industry for over 20 years working with a multitude of commercial, real estate and small business clients. Call Jane at 847-279-1155.