Agricultural
These are loans to farmers to finance agricultural production. These loans include all loans to farmers not more appropriately classified as “consumer” or “real estate”.
Commercial or Industrial
These are loans to businesses that are sole proprietorships, partnerships, and corporations. These loans are for commercial, industrial, or professional purposes.
Consumer
These are loans to individuals for household, family, student loans, and other personal (non-business) purposes.
Real Estate
These loans are for residential construction and development, farm land, commercial real estate, multi-family residential properties, and all other non-farm, non-residential purposes.
More Information
A Personal Loan vs. Credit Card: How the Differ and Which One to Choose
When it comes to financing your personal needs, credit cards and personal loans are the most commonly used options. While both of them offer a smart way to cover various expenses or finance life events, they come with significant differences in the way they work and need to be repaid. Therefore, they are typically used for different financial goals and situations. Here's a detailed look at each option and a comparison analysis to help you make an informed decision.
We assist our customers in applying for Federal, State, and Local guaranteed loans in all of the aforementioned loan categories.
©2024 Laurens State Bank - All rights reserved.