Borrowing for Your Small Business
- How Much Should You Borrow?
- Preparation is Key
- Secured Loans / Collateral
- What the Lender Wants to Know
- After Your Loan Request Is Approved
- Unsecured Loans
- Tapping the Equity in Your Home
- Retirement Account Loans
- Life Insurance Loans
- Small Business Administration Loans
- Factoring Receivables
Life Insurance Loans
Certain types of life insurance policies include a savings component, or cash value. You may borrow against the accumulated cash value at relatively low interest rates. Essentially, you are borrowing from your own savings. Interest rates may be fixed or variable depending on the policy. The rate of interest charged on a policy loan may be stated in the contract, or you can obtain it by contacting your insurance agent.
Caution: Usually you can repay the loan whenever you like, but remember, you bought the insurance to protect your family in the event of your death and the amount of loan outstanding when you die will be deducted from the money slated to go to your beneficiaries.
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IT IS IMPORTANT that our customers understand that products and services made available through Osaic Institutions, Inc.
Important information about procedures for opening a new account
To help the government fight the funding of Terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.
What this means to you: When you open an account, we will ask you for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
Investment products are offered through Osaic Institutions, Inc., Member FINRA/SIPC. Insurance products offered through Osaic Institutions, Inc.
- ARE NOT A DEPOSIT
- ARE NOT FDIC-INSURED
- ARE NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
- ARE NOT GUARANTEED BY THE BANK
- MAY GO DOWN IN VALUE
Important information about procedures for opening a new account
To help the government fight the funding of Terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.
What this means to you: When you open an account, we will ask you for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
Investment products are offered through Osaic Institutions, Inc., Member FINRA/SIPC. Insurance products offered through Osaic Institutions, Inc.