Kevin Johnsrud

Commercial Property Refinancing

Posted on October 19, 2012. Filed under: Kevin Johnsrud |

Commercial Property Refinancing

 In today’s market many business owners are looking to refinance their existing commercial property loans to try and obtain more favorable terms.

 Some owners choose to take a lower interest rate which results in lower payments, while still maintaining their current amortization schedule. Others will choose to continue to make the same current payment even with  a lower interest rate resulting in a more rapid amortization.

 Is one option better than the other? In both cases the owner will wind up paying less in interest throughout the term of the loan. One factor that property owners need to evaluate is what payment are they comfortable paying. Some owners use the longer amortization to maximize the interest expense for tax purposes. Others prefer to pay off debt as quickly as possible which in turn maximizes their cash flow.

 Most property owners should work with both their accountant and banker to make sure cash flow is sufficient and any covenants that have been put in place can be met.  Either way, in this low rate environment, the property owner benefits,

 Contact Denmark State Bank today to have your current loan agreements reviewed and allow us to determine the best path for your refinancing needs.

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Express Small Business Financing

Posted on January 16, 2012. Filed under: Kevin Johnsrud |

Days, weeks, even up to a month.  That is how long it can take to get a decision on a business loan, even for an amount as small as $10,000.  Denmark State Bank is now offering new prospective customers an opportunity to finance equipment ($5,000-$100,000) and small lines of credit ($10,000 – $25,000) through our Express Small Business Financing.

This quick application process, along with minimal required financial documentation, allows future customers a quick and easy way to begin their banking relationship with a local community bank.  Company tax return, personal tax return, operating agreement and filed articles of organization, along with a single page application, are all we need to get started.  We can have a decision back to you quickly, as well as a closing date.  We don’t need to work with a corporate office, regional loan committee or wait for a decision from someone who has never met you.  We do it all right in our office.  It’s about building relationships, not building numbers.

Feel free to contact a business banker at Denmark State Bank to answer any questions you might have regarding this outstanding program.

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SBA Lending

Posted on April 15, 2011. Filed under: Kevin Johnsrud |

Denmark State Bank is proud to participate within the SBA lending programs. SBA stands for small business administration and the lending programs it offers benefits both the customer and the lending institution. For the banks, a guaranty on a portion of the total loan amount reduces the risk a lending institution takes on. For the customer, the various programs can reduce monthly payments by amortizing (stretching) payments out over a longer period of time and along with the guaranty reduces the risk the bank will take on.

Various programs exist depending on the need of the customer. There are also special programs available to veterans. The SBA programs are ideal for customers who are looking at starting a business, expanding an existing business, refinancing existing business debt, or purchasing an existing business.

Denmark State Bank is excited to take part in the SBA lending programs and feel we can help both existing and new customers meet their financial needs by offering this service and programs.

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