Premier Bank is partnering with JobsOhio on a loan program designed to support existing Ohio small business clients with maintaining operations and payroll during the COVID-19 pandemic.
The program provides additional financing on favorable terms for local Ohio business customers in good standing that would otherwise not be able to access this credit on such terms due to the COVID-19 crisis.
Eligible businesses can use the newly available loan funds for working capital, including payroll, rent, mortgages or other fixed debts, utilities and other bills.
- Ohio based businesses
- Current Premier Bank loan or deposit customer in good standing
- Maximum of $200,000
- For current borrowers, an amount not to exceed the lower of 20% of total existing commitments or maximum of an additional $200,000
- Variable rate loan at prime rate, currently 3.25%
- No origination fees
- 35 Month Term - Six months interest only, then 29 principal and interest using 60-month amortization
- Standard approval process, collateral and other terms apply
- Deposit only customers with no current loans, amount is lesser of 10% of aggregate annual revenue from sales (most recent 12 month period) or $100,000.
To apply, please call your local branch to make an appointment or contact your banker.