Small Business Funding

Where Local Means Business

Prepare for the changing needs of your business.

Being able to adapt to change, especially in times of growth or uneven cash flow is a key success component for small businesses. When you need ready access to cash and flexible terms for repaying borrowed funds, an unsecured line of credit can often be an ideal solution. See below for details.

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Willamette Valley Bank - Product Options

Business Lines of Credit

Lines of credit are available to support a business’ short-term working capital needs. This product features interest only payments with principal reduced as the cash cycle strengthens. The typical term for this product is 1 year.

Business Term Loan

This product is used to finance equipment, vehicles, facility enhancements or business expansion. Characteristics include monthly principal and interest payments typically amortized in 5 years or less.

Letters of Credit

This product is put in place to guaranty performance or payment to the beneficiary. Letters of Credit normally have a term of 1 year and accrue interest only if drawn upon.

SBA 7A & Business Oregon Loans

These products are available through government loan programs and exist to support small businesses. See a Willamette Valley Bank commercial loan officer for specific details about these products.

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Business Loan FAQs

What are the benefits of using a business line of credit?

The number-one reason to open a business line of credit is to gain access to short-term funding. Most businesses use these funds to support financing for operational expenses like supplies and payroll or for increasing inventory. Cyclical businesses often rely on an unsecured line of credit as a source of off-season working capital. It’s a good choice for small businesses looking for ways to better manage cash flow.

What is required to obtain a small business line of credit?

Be sure to research the specifics of any lender’s business line of credit requirements. For example, many banks will require a business to have been under current ownership for some fixed amount of time. Rates for a business line of credit tend to be lower than those for a business credit card, which can charge more than 20% APR for purchases — and even more than that for cash advances.

What is a small business line of credit?

A small business line of credit has more in common with a small business credit card than with a small business loan. Like a small business loan, an unsecured line of credit provides a business with access to money that can be used to address any business expense that arises. Unlike a small business loan, however, there’s no lump-sum disbursement made at account opening that requires a subsequent monthly payment.

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