Working in local government is a complex and demanding job. Union Bank is here to make it easier with a comprehensive list of resources to support your day-to-day municipal operations. From state and national organizations to technology and tools, we cover the most helpful resources as well as the latest municipal funding and financing options. […]
Residents count on you to maintain roads, protect the water supply, and provide other essential services. When one-time projects arise, how can you stretch an already-tight budget?
We know that, like many municipalities across Vermont and New Hampshire, you’re already trying to do more with less. Our municipal financing options help municipalities run more smoothly by providing the funds you need to make improvements and keep operations running without interruption.
For years, Union Bank has been providing municipal finance loans, along with a full array of cash management services, to municipalities located in northern Vermont and northern New Hampshire. Our experienced lending team offers one of the best assets to our municipal customers: banking locally, where lending decisions are made at the local branch level by people who live in the same community.
Municipal Lines of Credit
How do you keep operations running smoothly when cash flow fluctuates with the seasons? Union Bank offers a variety of bond financing alternatives.
A municipal line of credit provides funds to bridge temporary gaps in cash flow and meet short-term expenses. It gives you flexibility with project timelines and other external factors. Many towns use municipal lines of credit as interim financing prior to and in anticipation of taxes or the receipt of grant or bond proceeds.
Municipal lines of credit include:
- Fixed or variable rates
- A range of term options to fit your needs
- Interest paid monthly
Municipal Term Loans
A Union Bank Municipal Term Loan can help finance new equipment, make capital improvements to existing property or infrastructure, or finance the purchase of new property.
Using municipal loans to fund capital investments distributes the cost across current and future generations so that everyone who benefits from the improvement helps pay for it with their taxes.
Municipal term loans include:
- Fixed or variable rates
- Flexible terms based on the anticipated life of the equipment and/or your specific needs
- Flexible principal and interest payment plans
- Installment purchase agreements
- lease purchase agreements
Stay local. Go far. Contact a member of our Municipal Services Team to learn more.