Colonial's Medical Professional Loan Program offers two flexible options:
| TERM LOANS | STRUCTURE |
|---|---|
| Minimum Amount | $50,000 |
| Maximum Amount | $2,500,000 |
| Interest Rate Option 1 | WSJ Prime minus 0.26% fixed at closing |
| Interest Rate Option 2 | WSJ Prime plus 0.25% fixed at closing |
| Amortization & Maturity for Rate Option 1 | Fully amortizing up to 5 years |
| Amortization & Maturity for Rate Option 2 | Fully amortizing up to 10 years |
| Collateral | Assignment of Life Insurance Policy and other collateral as appropriate |
| LINE OF CREDIT | STRUCTURE |
|---|---|
| Minimum Amount | $50,000 |
| Maximum Amount | $1,000,000 |
| Interest Rate | WSJ Floating |
| Amortization/Payments/Maturity | Interest Only Monthly/Two Year Maturity |
| Collateral | Assignment of Life Insurance Policy |
You can apply online, or reach out to one of our Commercial Banking experts who will be happy to answer any questions you might have.
*Use your existing life insurance policy as collateral for a loan and potentially access lower interest rates. However, be aware that if you die while still owing on the loan, a portion of your death benefit will be used to pay off the debt before any remaining amount goes to your beneficiaries.
**Loans are not FDIC Insured.
“All the ladies at Colonial in Colleyville are friendly, caring, and service friendly. I highly recommend this bank!”
Ruth E.
“It is so refreshing to be a customer of a business that is so concerned with customer service. From someone answering the phone and not getting a phone tree, to being greeted at the front door, to employees truly there for you. I highly recommend Colonial Savings.”
Susan D.
