Skip to main content
Find Your Local Branch
Back
Scroll to top

First Bank: Financing Loans for Businesses

Running A Business 2 min read

Ready to talk to an expert?

Find A Location Get In Touch

Choosing a bank to finance the right loan for your business is a critical decision. There are loans that cater to the established business looking to expand, and there are loans for the entrepreneur just getting started. The team at First Bank can help you choose the financing that’s right for you.

Business Financing Options

Shopping for loans can be overwhelming because of the large number of options available. Here’s a quick overview of some common types of business loans:

  • Secured Loans
    Lenders offer secured loans because they are low risk. The borrow is required to put up collateral in exchange for the financing.
  • Unsecured Loans
    Unsecured loans do not require the buyer to put up collateral. Approval for unsecured loans often depends on the borrower’s available capital and credit score.
  • Short-Term Loans
    Short-term loans serve as a quick infusion of cash that requires swift repayment.
  • Long-Term Loans
    A long-term loan is financing that is repaid over more than 12 months. If you’re needing to acquire assets for your business, this may be the right option for you.
  • SBA Loans
    The Small Business Association (SBA) is a government agency that helps small businesses find loans. If you do not qualify for a traditional loan, you may be eligible for a loan through the SBA. If you’re just starting out, an SBA loan may be right for you. First Bank SBA has financed thousands of small businesses.

SBA Loan Options

Some common types of loans from the SBA include:

  • 7(a) loans
    This common and versatile loan provides the necessary financing to launch a new business or to acquire or expand an existing one and can provide up to $5 million with terms stretching up to 25 years.
  • Microloans
    Microloans are similar to the 7(a) loan but finance only up to $50,000, with repayment terms reaching up to six years.
  • CDC/504 loans
    CDC/504 loans provide long-term and fixed-rate financing for the acquisition of real estate and expensive assets.

Find a First Bank Near You

Whatever your goals, we can find a loan to fit your needs. Find a First Bank branch in your area and start growing your business today.

————

Sources:

SBA: sba.gov/loans-grants/see-what-sba-offers/sba-loan-programs/general-small-business-loans-7a/7a-loan-program-eligibility

SBA: https://www.sba.gov/content/disaster-loan-program

Loans subject to credit approval.

Ready to talk to an expert?

Find A Location Get In Touch
Share:

You may be interested in...

Image for tile. Cash Flow Management: The Key to Navigating Uncertainty Why Strong Cash Flow Gives You a Competitive Edge Want more flexibility, faster decisions, and less stress when the market shifts? It all starts with how you manage your cash flow. In 2025, cash flow isn’t just about covering expenses—it’s your lever for growth, agility, and opportunity. By tightening control over how money moves through your business, you can: Get paid faster — improve your receivables process so you have more working capital on hand Free up cash — identify hidden costs and reinvest savings back into what drives growth Act in real time — use digital tools to secure your accounts and make quicker, data-driven decisions Access funding when it counts — set up flexible capital solutions before you actually need them The more control you have over your cash flow, the more confidently you can lead—no matter what the economy brings. Business Banking Tools That Put Your Strategy Into Action These First Bank business banking tools are designed to help you manage cash flow more effectively—so you can move forward with greater speed, flexibility, and control. Remote Deposit Capture Deposit checks without a trip to the bank. Reduce delays and bring cash into your business faster. Corporate Online Banking Monitor cash flow, approve transactions, and track spending patterns 24/7 from any device. Credit Card Processing Make it easier for customers to pay you, and speed up receivables with streamlined payment solutions. Positive Pay Protect your business from check fraud and reduce the risk of disruptions or financial loss. Business Line of Credit Access working capital before it’s urgent. Use funds as needed to smooth out cash flow gaps or invest in growth. Business Credit Card Float expenses, control team spending, and earn rewards for everyday purchases. Unlock the Full Potential of Your Cash Flow Cash flow isn’t just a financial metric—it’s a tool for growth, stability, and smarter decision-making. With the right strategy and support, you can reduce financial stress, move faster when opportunity knocks, and stay in control even when the economy shifts. At First Bank, we bring local insight and tailored solutions to help businesses across the Carolinas manage cash with confidence. From digital tools to flexible capital options, everything we offer is designed to keep your business agile, resilient, and ready for what’s next. Let’s build a cash flow plan that works for you. Schedule a Consultation Master Your Cash Flow Book a one-on-one consultation with a local First Bank expert and take control of how cash flows through your business. Let's Build a Cash Strategy That Works for You Additional Datum (leave alone) First Name Last Name Email Zip Code Phone Business Name My Interests My Interests Checking or Savings Account Business Loans and Credit Options Cash Management Solutions Payment Processing and Management Remote Deposit Capture Payroll Options Other 3 min read
What Are Mobile Merchant Services? If you own a business, you know how essential technology is to making it run smoothly. You may have even asked the question, “What are mobile merchant services?” Read more to figure out what mobile merchant services are and how First Bank can help you use them. What Are Mobile Merchant Services? In today’s world, keeping up with changes in technology is important, especially when running a business. Payment methods have evolved throughout the years, from cash and checks to credit and debit cards. Now, the mobile platform is being heavily utilized. Your business should be positioned to accommodate this changing landscape. Mobile merchant services are when a bank handles mobile electronic payment processing for merchants. In other words, mobile merchant services allow you to accept electronic payments through your cell phone or other mobile devices. First Bank offers a variety of merchant services, including in-store and mobile credit card processing. Credit card processing is a convenient way to control your cash flow by ensuring timely, automatic deposits into your account. With First Bank’s in-store and mobile merchant services, you get: Competitive rates with no hidden fees Multiple authorization networks and transaction processing methods Experienced and dedicated sales staff support National processing capabilities Comprehensive 24-hour online reporting Automated in-house chargeback/retrieval processing system with 24-hour turnaround 24-hour in-house merchant help desk 48-hour merchant settlement (24-hour merchant settlement if going to a First Bank account) Easy application process Contact First Bank Today Since 1935, First Bank has been dedicated to helping local businesses get the most out of their money. To learn more or to sign up for a free demonstration of our card processing services, call or visit a local branch. ———- Sources: Investopedia: http://www.investopedia.com/terms/m/merchant-account.asp 2 min read
Stanley Hughes examining plants Business Spotlight: Pine Knot Farms Pine Knot Farms has been in Stanley Hughes' family for over 100 years. He tells us his story and how organic agriculture has never been more important. 4 min read
Small business drives the US economy Small Business Drives the US Economy Big businesses grab the headlines and often the glory when the economy is doing well, but it’s the small business owners are the true powerhouses behind economic improvements. 2 min read
First Bank logo
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognizing you when you return to our website and helping our team to understand which sections of the website are the most popular and useful.