Customers Bank is a commercial lender serving mid to large-sized businesses in Philadelphia, PA, offering tailored financing solutions for expansion, equipment, real estate, and working capital.
Editorially reviewed by Harvey Brooks
Customers Bank operates as a commercial lending division focused on serving business owners and mid to large-sized enterprises in the Philadelphia, PA market. The company positions itself as a trustworthy partner for businesses at various growth stages, from expansion planning through acquisition activities. Their emphasis is on understanding business-specific financial needs rather than offering one-size-fits-all solutions.
Customers Bank offers a comprehensive range of commercial lending products including short-term loans (18-month terms), long-term financing (10-25 year repayment options), business lines of credit, business credit cards, and SBA loans. They provide specialized financing for equipment purchases, real estate acquisition, working capital needs, facility expansion, and business acquisitions. The company also offers venture banking for PE-backed startups, warehouse lending for mortgage companies, and industry-specific equipment financing solutions.
The company distinguishes itself through specialized lending expertise across multiple sectors, including venture/technology banking, real estate financing (multi-family, office, retail, industrial), fund financing, and equipment financing. They emphasize tailored solutions and claim to provide "credible insights" and "innovative money management tools" to help businesses navigate industry-specific challenges. Their focus on mid to large-sized businesses suggests they cater to enterprises beyond basic small business lending.
As a commercial lender, Customers Bank's offerings are limited to business borrowers rather than personal consumers, and the website provides general educational information about commercial lending rather than specific approval rates, terms, or pricing details. The company directs inquiries through their contact system rather than offering transparent online application processes, which is typical for commercial lending institutions serving larger business accounts.
Yes. Commercial Lending Philadelphia PA is a registered company headquartered in 401 N Broad St, Philadelphia, PA 19108. They hold a NR rating with the Better Business Bureau.
CreditDoc Diagnosis
Customers Bank's commercial lending services are best suited for established mid to large-sized businesses in the Philadelphia area seeking structured financing for growth, expansion, or acquisitions. The main caveat is that this is a B2B lender requiring substantial business size and credit profile; individual consumers and small startups should seek alternative small business lenders with lower minimum funding requirements and more transparent online application processes.
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Read guide →New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
The total yearly cost of borrowing money, including the interest rate plus any fees the lender charges. Think of it as the 'true price tag' on a loan.
Lenders must show APR by law (Truth in Lending Act) because the interest rate alone can hide fees. Comparing APR across lenders is the most reliable way to find the cheapest loan.
Example
You borrow $10,000 at 6% interest for 3 years, but there's a $300 origination fee. The interest rate is 6%, but the APR is 6.9% because it includes that fee. You'd pay $304/month and $946 total in interest.
The percentage a lender charges you for borrowing their money, calculated on the amount you still owe. It's the lender's profit for taking the risk of lending to you.
Even a 1% difference in interest rate can cost you thousands over a loan's life. Lower rates mean less money out of your pocket.
Example
On a $20,000 car loan for 5 years: at 5% you pay $2,645 in interest. At 8% you pay $4,332. That 3% difference costs you $1,687 extra.
The original amount of money you borrowed, before any interest or fees are added. It's the 'real' amount of your debt.
Your interest is calculated on the principal. Paying extra toward principal (not just interest) is the fastest way to reduce your total cost and pay off a loan early.
Example
You borrow $25,000 for a car. That $25,000 is your principal. Your first payment of $450 might split as $150 toward interest and $300 toward principal, bringing your balance to $24,700.
How long you have to repay the loan, measured in months or years. A shorter term means higher monthly payments but less total interest paid.
Longer terms feel more affordable monthly but cost much more overall. A 30-year mortgage costs almost double in interest compared to a 15-year mortgage on the same amount.
Example
Borrowing $200,000 at 6.5%: A 15-year term costs $1,742/month ($113,561 total interest). A 30-year term costs $1,264/month ($255,088 total interest). You save $141,527 with the shorter term.
A one-time fee the lender charges to process and set up your loan. It covers their costs for underwriting, verifying your information, and preparing paperwork.
Origination fees are usually 1-8% of the loan amount and are often deducted from your loan proceeds — so you receive less than you borrowed.
Example
You're approved for a $10,000 personal loan with a 5% origination fee. The lender deducts $500 upfront, so you receive $9,500 in your bank account but owe $10,000 plus interest.
A person who agrees to repay your loan if you can't. They're equally responsible for the debt, and their credit is affected by your payment behavior.
Cosigning helps people with thin credit get approved or get better rates. But it's a huge risk for the cosigner — they're on the hook for the full amount if you default.
Example
A parent cosigns their child's $30,000 student loan. The child stops paying after 6 months. The parent is now legally required to make the payments or face collections, lawsuits, and credit damage.
The process where a lender evaluates your finances — income, debts, credit history, assets — to decide whether to approve your loan and at what rate.
Understanding what underwriters look for helps you prepare a stronger application. They check your DTI ratio, employment stability, credit score, and the asset's value.
Example
You apply for a mortgage. The underwriter reviews your pay stubs (income), bank statements (savings), credit report (history), and orders an appraisal (home value). This takes 2-4 weeks.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
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