Commercial Loans

Term Loans

Term Loans are used traditionally to finance intermediate or loan terms will generally match the economic life of the asset financed.

Lines of Credit

Lines of Credit are traditionally used by companies to meet short term operating needs and support seasonal cash flow fluctuations. Terms are normally one year or less with interest paid monthly.

Construction and Real Estate Loans

Construction and Real Estate Loans for purchase, improvements or expansion of the company's facilities are available on the terms up to 15 years. During the construction period, funds are borrowed as needed and interest is paid monthly.

Small Business Administration Loans (SBA)

Small Business Administration Loans (SBA) New businesses that are being started as well as businesses that are experiencing rapid growth may use these type loans.

• Who participate?
  • Small, for profit, businesses situated in our market area.
  • Businesses for whom conventional credit at reasonable terms is not available.
• How does it operate?
  • SBA guaranteed loans are made by First National Bank and guaranteed by SBA.
  • Loans are guaranteed in the following manner:
    • Under $150,000 up to 85%.
    • Over $150,000 up to 75%.
  • Maximum gross loan of $2,000,000 with a maximum guarantee of $1,500.000.
  • Collateral-SBA requires all available assets be pledged and personal guaranties are required from all principal business owners.
• SBA Loan Programs.
  • 7(a) Guaranteed Loan Program.
    • Primary lending program for term loans.
    • Financing not available through normal lending.
  • 504(c) Loan Program.
    • Developed to encourage local economic development.
    • Used for long-term fixed rate financing of major fixed assets such as real estate, equipment, etc. to be used primarily to create or retain jobs.
• You may qualify for a SBA loan if you have the following:
  • Experience in the business.
  • Creditworthiness.
  • Management ability.
  • Adequate investment.
  • Ability to repay.

Credit approval is subject to both SBA and First National Bank.  

Accounts Receivable Finance

Accounts Receivable Finance is a complete system that allows you to get cash daily for your receivables by selling them to the bank at a discount.  The bank sends statements on your behalf, even offering payment terms to your customer.  The bank provides you with detailed management reports outlining critical information about your business and receivables.  Accounts Receivable Finance effectively puts your business on an all-cash basis, enabling you to take advantage of suppliers discounts, increase sales, and redirect staff time.  You save the time and money traditionally spent on receivables management, allowing you to focus on building your business.