Business Banking Solutions
Deposit Products
Business Checking - Learn More
- Business Checking Accounts
- Business Interest Checking
- Value Business Checking
- Statement Savings Account
- Business Money Market Account
- Relationship Money Market Accounts
- Community Banking Accounts
Certificate of Deposit
- Opening deposit of $1000 is required
- Daily balance method used to calculate interest
- Interest accrued daily, compounded and credited monthly
- Interest may be compounded or deposited into another Black Mountain account
- Automatic renewal at maturity with ten day grace period
- Penalty will be applied for early CD withdrawals
Loan Products
Lines of Credit
- To finance temporary accounts receivable and inventory growth
- Used to satisfy seasonal needs or short term credit requirements
- Usually short-term in nature (one-year maturity)
- Revolving or Non-revolving
- Annual clean-up usually required if unsecured
- One-year maturity
- Secured or unsecured
- Typically floating rate
Equipment Loans
- Typically 90% of purchase price or 80% if used
- 3-5 year amortization schedule
- Maturity not to exceed useful life of the financed assets
- Secured by equipment purchased
- Floating or fixed rate
Equipment Leases
- Capital and Operating leases
- TRAC Leases, Sale Leaseback, New and Used Equipment
- Vendor Program
Working Capital Loans
- One-time or occasional
- Used to finance business acquisition or long-term working capital needs
- If business acquisition, amount should not exceed 75% of purchase price
- Fully disbursed at loan closing (non-revolving)
- Specific maturity with set repayment schedule
- Floating or fixed rate
Receivable Financing
- Amount based on percentage of eligible accounts receivable
- Meets periodic or continuous needs
- Borrowing base certificate required
- Typically revolving in nature
- Typically floating rate
- Ideal product to finance growth
SBA 504 Loans
- Provides financing for owner-user real property and equipment
- Construction/Term loans
- Must meet government agency's size, type of business and loan purpose criteria
- Packaged by Certified Development Companies (CDC's)
- Minimum 10% equity injection required by borrower. Additional equity may be required
- Bank finances 50% of Term Loan amount
- CDC/SBA funds 40% of Term Loan amount up to $750,000 (or $1,000,000 in special circumstances)
Real Estate Loans
- Construction: Commercial and Residential
- Bridge-Loans
- Term Real Estate Loans-Commercial
- Lot Loans located in gated or golf communities
- Subdivisions
- Income Properties and Owner Occupied such as:
Office, Office/Warehouse, Industrial and Retail
Term Real Estate Loans
- Owner-Occupied
- Investment Properties
- 15-25 year amortization schedule with 5-10 year maturity
- 75% or less Loan to Value
- Full recourse
- Floating or fixed rate
Other Services
Community-Wide Courier
- Black Mountain Community Bank offers community wide courier service to pick up deposits from our business customers. This service is free to those needing pick up service 3 or less days a week. For details, restrictions, and prices for courier service in excess of 3 days a week call (702) 990-5900.
Cash Management
- Relationship Banking
- Check sort by number
- Sweep Accounts (coming soon)
- ZBA Accounts (coming soon)
- Investments (coming soon)
Internet Bill Pay
- Direct payments to merchants
- Interfaces with popular check writing programs
- First three months free then $9.95 per month + $.050 per transaction over 10 items
Merchant Card Services
- Competitive rates
- Commonly accepted credit cards
- Local service
Cash Vault
- Full cash vault services
- Coin and cash armored carrier
- Armored carrier pick-ups
Business Payroll
- Competitive rates
- Payroll reporting and tax return and filing
- Electronic Funds Transfer Payment Services
ACH
- Automatic transfers from accounts
- Automatic loan payments
- Automatic government deposits
