Arizona bank competes with major online fast loan companies

In May 1, 2017
On News

Online Quick Loan for Arizona Businesses

Horizon Community Bank fights unfair “wild west” internet lending practices and brings B2B lending local

LAKE HAVASU CITY, Ariz.—May 1, 2017— Online quick loans can be a catch-22 for the average small business, balancing extremely fast funding with a painful downside: interest that can run thirty percent or more and, in many cases, a complete lack of regulation to protect borrowers.

It’s a simple solution for the busy entrepreneur or business owner with little time for the complex paperwork and lengthy waiting period that conventional funding requires, however, trouble can creep in once there’s a signature on the dotted line. Most online lenders are not regulated like a bank, so they aren’t held to the same laws and protections banks are required to follow.

Locally owned and operated Horizon Community Bank wants to address this issue and has launched an alternative to those who need an easy, fast business line of credit. Like any online loan product, the application process results in a fast decision and funding within 48 hours. Unlike non-bank lenders, though, borrowers can trust in the same regulations and federal compliance oversight that protect any banking transaction.

“By partnering a simple online quick loan product with a brick-and-mortar bank you can trust, we’re blending the best of both worlds. Online quick loans can be a bit of a Wild West environment, leaving borrowers out in the cold when questions or issues arise. The lack of regulation and compliance can come as a nasty surprise,” says Horizon Community Bank President & CEO Jerry Ernst.

“We have branches all over the state of Arizona, providing the in-person relationships and customer service that only a local community bank can provide, with branches a borrower can visit when they need business banking expertise. It’s a win-win.”

Borrowers can request a line of credit up to $50,000 at interest ranging from 15 to 18 percent, with a one-year term that automatically resets if more funds are used. For those who qualify for the loan, a lower interest rate is offered if the borrower opens a checking account at Horizon Community Bank, enabling automatic payments. Business are required to have an existing business checking account (at any bank) to qualify, along with an appropriate credit score. Learn more at

About HCB
Horizon Community Bank is a locally owned and operated FDIC insured commercial bank with branches in Fort Mohave, Lake Havasu City, Mesa, Parker and Quartzsite. It has almost 80 employees and provides high-touch, customized financial services to those in the healthcare, transportation, real estate, and technology industries, as well as general commercial and consumer services. Horizon Community Bank is a subsidiary of holding company Horizon Bancorp, Inc.