Wood County National Bank has been serving the financial needs of area businesses for nearly 115 years. Whether you are seeking a business loan to create a new business or expand an existing business, our experienced professional staff can help make those plans a reality.

Term Loans

If you need a long-term loan to fund real estate, equipment or other capital expenditures, we can tailor a term loan to fit your individual situation.

Lines of Credit

For short term, working capital or seasonal needs, consider a Line of Credit. Certain lines can be linked to your business checking account with us to provide a fully automated cash management tool to minimize your borrowing costs.

Letters of Credit

If you deal in domestic or foreign trade, a Letter of Credit is a valuable tool when you need to provide financial guarantees.

Credit Insurace

Credit life and credit disability insurance provides affordable coverage that protects your business investment in the event of death or disability. 

SBA Loans

The major concern for today's small business owners is access to capital and credit. The SBA's loan guaranty programs provide a key source of financing for viable small business that have real potential, but cannot qualify for loans from traditional sources. SBA guaranties give small business owners access to the same kinds of reasonably priced, long-term financing available to large businesses by virtue of their size and economic clout. Financing programs provided by SBA vary according to a borrower's financial need. The following outlines major programs offered by the SBA.

• 7(a) Loan Guaranty Program – The 7(a) Loan Guaranty Program is the SBA's primary loan program. The SBA reduces risk to lenders by guaranteeing major portions of loans made to small businesses. This enables the lenders to provide financing to small businesses when funding is otherwise unavailable on reasonable terms.

• Low Documentation Loan – LowDoc is one of SBA's most popular programs. Once you have met your lender's requirements for credit, LowDoc offers a simple, one-page SBA application form and rapid turn-around on approvals for loans up to $150,000.

• SBAExpress – SBAExpress is available for loans up to $250,000. The program authorizes SBA preferred lenders to use mostly their own forms, analysis and procedures to process, and service SBA guaranteed loans.

• SBA 504 Loan Program – The 504 is the SBA's economic development instrument that supports American small business growth and helps communities through business expansion and job creation. The SBA 504 loan program provides long-term, fixed-rate, subordinate mortgage financing for acquisition and/or renovation of capital assets including land, buildings, and equipment.

Wisconsin Housing & Economic Development Authority (WHEDA)
WHEDA offers a variety small business and agriculture financing options including:

• Small Business Guarantee – helps borrowers obtain financing on favorable terms to start-up, acquire or expand a small business.

• Linked Deposit Loan Subsidy – provides an interest rate subsidy on lender financing to women or minorities to start-up of expand a business.

• Neighborhood Business Revitalization Guarantee – Stimulate economic development in redeveloping urban neighborhoods in communities with populations greater than 35,000 by:
  - Bringing or expanding businesses into the area, or
  - Developing or rehabilitating commercial real estate, including mixed-use properties, where a business occupies a portion of the building.

• Agribusiness Guarantee – Assist in the start-up, acquisition or expansion of a business that develops products using Wisconsin's raw agricultural commodities.

• Contractors Loan Guarantee – To assist in the development and expansion of small businesses by providing an opportunity to enter into contracts with eligible organizations. Participants in the Contractors Loan Guarantee may obtain new loans or lines of credit to pay expenses to perform on an eligible contract.

For more information, visit www.wheda.com or talk to one of our commercial lenders.

For more information, visit www.sba.gov or talk to one of our commercial lenders.