Business Banking Accounts

Business Banking Accounts

BusinessManager®
SBA Loans
Commercial
Business Deposit

BusinessManager®

Now you can bridge the gap between payables due to suppliers today and receivables that your customers won’t remit for 30 days or more. BusinessManager® enables you to get cash for your accounts receivable deposited directly into your bank account by selling them to University Bank at a discount.

University Bank can send statements on your behalf, and offer payment terms to your customers. You’ll also receive detailed management reports outlining critical information about your receivables. When you are effectively conducting business on an all-cash basis, you can take advantage of suppliers’ prompt payment discounts, increase your sales, redirect staff time, and save the time and money typically spent on receivables management. Get BusinessManager® and get back to building your business.

Improve cash flow
With a more predictable cash flow, you can make payroll, remit payables on time, increase inventory, and pursue new business opportunities.
Save time and money
Take advantage of prompt payment discounts from suppliers and get back to doing business. Sending files electronically allows you to redirect personnel to more productive tasks.

Manage your business
Track receivables with detailed reports, reduce your debt, maintain a liquid working capital position, and prevail in seasonal fluctuations.

Improve collections
You can choose to use the bank’s presence on customer correspondence, which influences customers to pay on time.

Offer financing options to your customers
Sharpen your competitive edge by offering flexible payment terms. You win and your customers do too.

Wired — the e-commerce solution
BusinessManager’s electronic commerce feature called “Wired” allows you to exchange receivables information with University Bank through a secure Internet site. You’ll save time, money and effort associated with exchanging “paper” invoice information. Wired also reduces the likelihood of manual errors.

Timely management reports
Reports about customers, aged receivables, credit and debit transactions, credit application, and merchant activity are available to help you manage your business.

Flexible customer payment terms
BusinessManager offers six payment terms that enable you to attract new business:

  • Fixed –– a set dollar amount is due each month until the balance is paid.
  • Net — the entire balance is due at the end of the term.
  • Periodic — payment amount is based on the customer’s choice of billing frequency (monthly, quarterly, bi-monthly, etc.) up to one year.
  • Prox — the entire balance is due on a particular date each month.
  • Revolving — the monthly payment is based on a percentage of the balance or a minimum amount, whichever is greater.
  • Same-as-Cash — free financing for up to one year. No payments are due until the end of the term, and then the entire balance is due.

End-of-Period statements
University Bank runs the End-of-Period (EOP) process each month to close your billing cycle, total customer accounts, calculate finance charges, generate statements for customers, and create management reports for both you and the bank. You can customize statement messages and choose whether to use “bank billing” (with the bank’s name and influence) or “blind billing” (without the bank’s name).

Let us help you grow your business with an SBA Loan

SBA Loans are loans that are guaranteed by the U.S. government. With an SBA loan your business can take advantage of longer repayment terms with higher borrowing limits. Qualifying criteria are generally more flexible than conventional loans. Less cash is needed with down payments often as low as 10%. University Bank has the expertise and the resources to provide complete loan packages for most businesses.

SBA 7(a) Program

Proceeds can be used to fund equipment purchases, business acquisitions or expansion, finance permanent working capital or purchase real estate.

  • Loan Amounts $250,000 – $5,000,000
  • Borrower investment/down payment is 10-25% of purchase price
  • Working Capital – Up to 7 years
  • Equipment Loans – Up to 15 years
  • Real Estate – Up to 25 years
  • Purchase land or buildings, to cover new construction as well as expansion or conversion of existing facilities
  • Acquire equipment, machinery, furniture, fixtures, supplies, or materials
  • Obtain long-term working capital including the payment of accounts payable and/or the purchase of inventory
  • Refinance existing business indebtedness, which is not already structured with reasonable terms and conditions
  • Longer maturity terms than a conventional loan
  • Same application process as a conventional loan
  • Easier to qualify than conventional loans
  • Lower down payments on fixed assets
  • SBA fees can be financed into the loan

SBA 504 Program

SBA 504 program is a fixed cost asset economic development program designed to help small businesses acquire land, building and equipment.

  • No bank minimum limit on total project cost
  • Minimum equity infusion of 10% (15% for start-ups or single purpose real estate and 20% if both conditions apply)
  • University Bank will provide a conventional mortgage with first lien position
  • A Certified Development Corporation (CDC) will partner in the financing with a second mortgage for 30% to 40% of the total project cost that is fully guaranteed by the SBA. Maximum SBA portion is $1.5 million / $2 million in special cases and $4 million for manufacturers. The CDC’s fee is 2.75% plus attorney’s fees.
  • Businesses qualify if they do not have a tangible net worth in excess of $2.5 million after taxes for the proceeding two years
  • 51% owner occupancy required; new construction 60% owner occupancy
  • University Bank must approve interim financing for the SBA portion because of the SBA debenture funding process
  • Prepayment penalty may apply
  • Bank Portion – minimum 7 years for equipment or 10 years for Real Estate
  • SBA portion – minimum 10 years for equipment or 20 years for Real Estate
  • Real estate financing (land and building)
  • Construction and improvements
  • Heavy machinery
  • Lower down payments on real estate acquisition
  • Same application process as a conventional loan
  • Favorable terms and pricing on SBA debenture
  • Business conserves capital
  • Fees can be included in the total project cost

Commercial & Non-Profit Loans

University Bank is a Community Bank, which means that we focus on helping local small businesses develop and grow. Our innovative, experienced commercial loan officers will work with you to design an individual program that will help your business meet its financial goals. We can help you with things such as

  • Commercial Real Estate Loans
  • Equipment Loans
  • Working Capital Lines of Credit

Non-Profit Loans

University Bank has extensive experience working with hundreds of local area non-profits and can structure loans to meet their specialized needs.

Deposit Accounts

University Bank is committed to providing the people and businesses of Washtenaw County with the best banking services available, and the community support you deserve from your bank.

• Minimum opening balance $500
• Business must meet qualifying requirements
• Interest bearing
• Monthly service charge – may apply if avg. daily balance falls below $1000

  • Minimum opening balance $100
  • Monthly service charge – may apply if avg. daily balance falls below $2500
  • Unlimited deposits
  • Per Debit/Check Fee – in excess of 100 per month
  • Minimum opening balance $100
  • Monthly service charge may be partially or fully offset by earnings credit
  • Per Debit/Check Fee – in excess of 100 per month
  • Minimum opening balance $1,000
  • Monthly service charge – may apply if avg. daily balance falls below $500
  • Tiered interest rates
  • Accessible by ATM or Business MasterCard® Debit Card
  • Terms: 91 days – 60 months
  • Minimum opening balance $1000
  • Fixed rate for the term
  • May receive interest by check, transfer or compounding
  • 7 calendar day grace period at maturity

University Bank offers a FREE courier service (no cash) to all business customers.

Want to Learn More?

For current rates or to open an account please call the Branch

  • (734) 741-5858