Small businesses may experience a variety of challenges, including faster-than-expected growth, slow-paying customers, new equipment requirements, and rising rental costs. Even just one of these challenges can cause a small business to suffer a cash flow shortage, which may put the business in the position of needing financial assistance to get through a tough time.
Home State Bank offers a variety of financing options to help small businesses meet their cash flow needs. “We provide support to many businesses in McHenry County,” said Krishin Thadani, Small Business Loan Officer with Home State Bank. “Funds can be used in a variety of ways, including refinancing existing business debt, renovating an existing building, or purchasing inventory. Loans can also be used for purchasing equipment, machinery, supplies, and materials.”
A small business may be looking to expand, or to purchase real estate to construct a new building. “We also provide lines of credit for short-term capital for seasonal financing and construction financing,” added Thadani.
Home State Bank has been McHenry County’s #1 Business Lender, in terms of dollars loaned out, for the past six years, according to the Federal Financial Institutions Examination Council. HSB is able to leverage the Small Business Administration’s (SBA) lending programs in order to better meet the needs of the local business community. SBA loans typically offer longer terms, higher loan-to-value ratios, greater approval rates, and fixed interest rates.
“My focus is small business lending,” said Thadani. “I’ll sit with any member of the community to discuss how cash shortages can be met with Home State Bank’s lending programs. With my SBA loan expertise, we can work together to find a solution for your cash flow requirements.” For more information, please contact:
Krishin Thadani, Small Business Loan Officer
Home State Bank N.A.
611 S. Main St.
Crystal Lake, IL
Phone: (815) 788-3475