Obtaining financing can be one of the most difficult challenges confronting any businessperson. At Summit Bank of Kansas City, we try to make it easy for you with our prompt, personalized service and comprehensive product line. Summit Bank of Kansas City delivers a number of different loan products specifically designed to meet the needs of your business. When your business needs a competitive edge, we will work with you to create a solution, whether you need Equipment Financing for machinery, Working Capital to help you with day-to-day operations, or a loan for Capital Expenditures to enhance the long-term viability of your company, you can be assured that your credit needs will receive prompt, personal attention from our experienced staff.
- Buy, build or refinance commercial real estate for your business
- Purchase or lease capital equipment
- Flexible terms and rates to meet your cash flow needs
Real Estate Loans
Buy, build or refinance commercial real estate with Summit Bank of Kansas City's Commercial Real Estate Loan. You may be able to eliminate rent payments, reduce your monthly payments or take advantage of potential tax benefits.*
- Loans ranging up to $3 million
- Fixed or variable interest rates
- Flexible terms available
Commercial Real Estate
Build on your business investments with one of our Commercial Real Estate programs. Use existing real estate value and assignment of leases and rents for collateral.
Our Commercial Real Estate programs include:
- Owner occupied commercial real estate
- Non owner occupied multi-family dwellings
- Mixed use properties
- Investment properties
- Commercial buildings
- Merchant Services
Commercial Construction
We can provide financing for construction. The loans we provide include short-term bridge financing for the comprehensive renovation, repositioning and lease-up of existing properties or new construction, as well as more traditional permanent loans.
Business Credit Services
Loans and Services
Whatever your financial needs are, Summit Bank of Kansas City is available to help. We offer business loans and services for our private banking business clients. Local decision making. Our business banking customers are treated with care and have exclusive benefits tailored to their needs. Your banker meets with you at your office or other convenient location of your choice.
Term Loans
Term loans provide a source of longer term funding for equipment purchases, vehicle purchases, or other needs. We finance loans to purchase equipment or expand an office building, purchase a new business, refinance a contract to a former owner, working capital lines of credit and loans to fund profit sharing/pension plans. We also offer all consumer credit including Home Equity Lines of Credit and personal, unsecured lines of credit. Repayment is usually structured to provide monthly payments of principal and interest. Terms generally require repayment within seven years, and have a variable rate option. These loans are typically secured by the assets of the company.
Working Capital Lines of Credit
Lines of credit provide a source for short term funding needs and seasonal production peaks. Repayment is usually structured to be interest only on a monthly basis with one or two year maturities and a variable rate. Lines of credit are typically secured by all assets of the business.
Equipment Leasing Services
Leasing is Flexible. Companies have different needs, different cash flow patterns, different and sometimes irregular streams of income. For example, startup companies typically are characterized by little cash and limited debt lines. Mature companies might have other needs - to keep debt lines free, to comply with debt covenants, and to avoid committing to equipment that may quickly become obsolete. Therefore, your business conditions - cash flow, specific equipment needs, and tax situation may help define the terms of your lease. Moreover, a lease provides the use of equipment for specific periods of time at fixed rental payments. Therefore, leasing allows you to be more flexible in the management of your equipment.
Leasing is Cost-Effective. Equipment is costly and some of the costs are unexpected. When you lease, your risk of getting caught with obsolete equipment is lower because you can upgrade or add equipment to best meet your needs. Further, your equipment needs can change over time due to changes to your company, such as diversification. Leasing allows you to stay on the cutting edge of technology.
Leasing Has Tax Advantages. Rather than deal with depreciation schedules and Alternative Minimum Tax (AMT) problems, you, the lessee, simply make the lease payment and deduct it as a business expense.
Leasing Helps Conserve Your Operating Capital. Leasing keeps your lines of credit open. You don't tie up your cash in equity. Also, you avoid costly down payments. With other advantages such as off-balance sheet financing, leasing helps you better manage your balance sheet.
Why You Should Lease- Tying up thousands of dollars to purchase equipment could cost more than you think. The value of business equipment lies in using it--not owning it!
- Primary Advantages of Leasing Equipment
- 100% Tax Deductible*
- Lease payments are usually a pre-tax operating expense and therefore are fully deductible (consult your CPA).
- 100% Financing **
- No large down payment is required to start a lease. Leasing puts the equipment to work for you immediately, at minimal up-front cost. Software, delivery, installation, freight, and sales tax can be included.
- Preserves Capital and Credit Lines
- Leasing keeps your capital sources available to meet needed short-term requirements. Conserve your cash and credit lines for important long-range plans such as expansion, improvements, and growth.
- Minimized Risk of Obsolescence
- When new generation of equipment becomes available, you will have the flexibility to upgrade or add-on. You are not faced with the burden of owning old or obsolete equipment.
- Makes More Equipment Available
- Since the monthly lease payment is a small portion of the total cost of the equipment, leasing allows you to obtain a greater amount of equipment for your business.
- Your Choice of Lease Terms
- Traditional 12, 24, 36, up to 84 month programs, or...
- Specially Designed Lease Programs
- We can tailor payments to match your seasonal cash flow
- Allow for lower first-year payments so that you can have state-of-the-art equipment now without first-year cash flow problems.
- Flexible End-of-Lease Options
- You may opt to: trade-up to new equipment; continue to rent the equipment; return equipment to lessor; or exercise the purchase option and own the equipment.
* Consult a tax advisor regarding deductibility
** All loans are subject to credit approval