COMMERCIAL LENDING

COMMERCIAL, BUSINESS & AGRICULTURE LOANS – Non-Real Estate

      Lines of Credit

• For working capital, operating expenses and production
• Variable and fixed interest rates
• Secured and unsecured lines         
• Loan Terms to suit your needs.    

     Term Loans

• For capital and equipment    
• Variable and fixed interest rates
• Loan Terms to suit your needs.

COMMERCIAL, BUSINESS & AGRICULTURE LOANS –Real Estate

• For purchase, refinancing, construction and improvements
• Variable and fixed interest rates up to 5 years. 

• Loan Terms to suit your needs.

CONSUMER LENDING

CONSUMER LOANS – Non- Real Estate

• For consumer needs with the exception of those secured by real estate
• Lines of credit and term loans
• Fixed interest rates

CONSUMER LOANS – Real Estate

• For purchase, refinancing, construction and improvements
• Long term amoritzation.
• Normally secured by the principal residence of the borrower

HOME EQUITY LINES OF CREDIT

• For consumer or business purpose
• Loan Terms to suit your needs.
• Repayment is interest only each month
• Revolving line
• Variable interest rate tied to prime
• Secured by the principal residence of the borrower 

PERSONAL LINES OF CREDIT

• For consumer purposes
• Loan amounts are $1,500.00 thru $5,000.00
• Loan Terms to suit your needs.
• Variable interest rate tied to prime                           

OVERDRAFT PROTECTION ACCOUNTS

• Linked to the customer’s Bank of Milan checking account
• Loan amounts are $500.00 thru $2,000.00
• No stated maturity
• Variable interest rate tied to prime

LOANS SECURED BY A BANK OF MILAN CERTIFICATE OF DEPOSIT

• For consumer and business purposes
• The maturity coincides with the maturity of the security
• Interest rate varies based on CD APY rate

LETTERS OF CREDIT  

• Establishes a position of liability to the party issued
• There are 2 types: Commercial Trade Letter of Credit and Standby Letter of Credit
• They can be revocable or irrevocable
• Loan Terms to suit your needs.

MORTGAGE LENDING

HOME MORTGAGE CENTER

Managed by Cindy Milligan

Originated and processed by The Bank of Milan

• For purchase, refinancing, and improvements
• Long Term, Fixed Rate Mortgages Available
• Secured by the principal residence of the borrower
• Financing for investment homes and vacation homes available
• Up to 100% LTV programs available