Skip to main content
_FB_2018-Icons-finalized-cleaned-up_new_FB_2018-Icons-finalized-cleaned-up_newGroup 9
Back
Scroll to top

Commercial Financing

Running A Business 2 min read

Ready to talk to an expert?

Finding the right commercial financing is easier said than done. If you’re starting a business or trying to grow, finding the right option can be a tough task. Learn more about different commercial financing options and how First Bank can help.

Commercial Financing Questions and Options

While finding commercial financing can be critical to business development, navigating the process is never easy. Understanding your financing options can be the difference between success or stagnation.

Whether it’s knowing how much to borrow or finding a good rate, few business owners can do it alone. There are a range of products for business owners to get capital. Here are some options you will find at First Bank:

Lines of Credit
First Bank offers several different lines of credit for small business owners. Whatever your needs, you’ll find the flexibility to access your money both quickly and conveniently. And the good news is, once your credit line is repaid, you can reuse it as needed to keep pace as business opportunities arise.

SBA Loans
Perfect for small business owners, SBA loans are government sponsored. This can help people get started when traditional commercial financing isn’t an option. Learn more about First Bank SBA and how we help small businesses.

Loans for Construction
Whether you’re building, remodeling, or expanding your space, we can help you find a solution. First Bank’s financing specialists help connect builders and borrowers with the loans they need to get the job done.

Business and Commercial Loans
Business owners are able to quickly enhance their financing with First Bank’s competitive loans and mortgages. If you’re financing small items or need real estate expertise, these are the best options for you.

Find a First Bank Branch Near You

We take pride in getting small businesses the financing they need to be successful. Whether you’re just starting up or are looking to grow, we can find the money you need so you can spend time building your business.

Get started today by finding a First Bank branch near you!


Loans Subject To Approval

Ready to talk to an expert?

Share:
First Bank’s Good To Know Logo
Sign up for our newsletter and be the first to know about new tips, insights, and products from First Bank.
First Bank may use this email address to contact you about products, services, and promotions.

You may be interested in...

Where to Get Small Business Loan Rates So you’ve decided to start a small business, and you have everything sorted out. Business plan…check, location, check. Small business loan rate quotes….not checked. Okay, so you have almost everything sorted out. You’re stuck on the next step—financing your business—and you aren’t sure where to get small business loan rates in your area. There are a lot of options for small business loans, but banks are still the best places you can go. If you live in NC or SC, you can move forward with your plans to open a small business quickly and easily. All you have to do is visit a First Bank location near you, and ask one of our experts about our small business loans. Rates can vary depending on the type of loan, so speaking with one of our experts is the best way to make sure you’re getting a rate that works for you. Loan Options at First Bank At First Bank, we understand that small business loans aren’t one size fits all. Different businesses have different needs, and that is why we offer a variety of small business loan options, including: A business credit card with rewards Lines of credit Business loans Commercial mortgages Construction loans SBA loans All of our loans are offered with flexible terms and highly competitive rates*. With First Bank, you won’t have to wonder where to get small business loan rates anymore. What’s Next? Now that you’ve gotten your finances figured out, what’s next? According to the U.S. Small Business Administration, you have 6 steps left: Determine the legal structure of your business Register a business name Get a tax identification number Register for state and local taxes Obtain business licenses and permits Understand employer responsibilities For more information on starting a small business or answers to questions like “where to get small business loan rates?”, visit your nearest First Bank location to talk to a business loan expert today. Loans subject to credit approval. ——— Sources: Bank Rate: http://www.bankrate.com/finance/personal-finance/3-ways-to-get-a-small-business-loan-1.aspx Small Business Administration: https://www.sba.gov/content/follow-these-steps-starting-business 2 min read
Image for tile. Money Mule Scams: How Criminals Convert Fraud into Profit What is a Money Mule? Money mules are individuals who unknowingly or knowingly assist criminals in laundering money, often by transferring illegally sourced funds between accounts or across borders. The source of the money comes from fraudulent scams or other illegal activities like drug trafficking. Criminals use their mule’s identity and layer the illegal transactions in an attempt to hide the illegal funds from law enforcement. Once properly hidden, the criminals are able to access their funds and cash out on their illegal activity. Common Money Mule Scams There are a number of ways that criminals will try to hide their money from law enforcement. Money mules are a form of money laundering, where criminals attempt to make their illegally sourced funds seem legitimate. Here are a few common ways people can unknowingly fall victim to money mule scams. 1- Deceptive Job Offers Money mule scammers will act as employers offering high-paying, remote positions. Common job titles could be payment processor, financial coordinator, or international fund liaison. While these job opportunities seem legitimate, their primary function is to receive and transfer illegal funds. The criminal will wire a large sum of funds to the mule, then instruct them to keep a percentage and transfer the remainder of the money to a different account or purchase a certain amount of cryptocurrency. The criminal hides behind their mule’s identity and is able to more easily access their funds. 2 – Romance Scams This type of mule scam exploits a victim’s emotions and trust. Scammers will find their victims on social media sites, dating sites or other online chat channels. They will deceive their victims with made up personas often using stolen photos and fake details. Over time, the scammer will attempt to build an emotional connection by sending affectionate messages or personal stories. Once they feel they have earned the victim’s trust, they will fabricate a story requiring financial assistance. These are oftentimes medical emergencies or travel issues that need quick funding into an account. Once the scammer has convinced their victim to oblige, they will continue to exploit their trust to launder their illegal funds. 3 – Lottery, Prize, and Investment Scams If something seems too good to be true – it probably is. These scams typically start via an unsolicited message or phone call informing you that you’ve won a prize. They instruct their victims to take a number of steps before they can claim their prize, and that is where the danger lies. These steps could include gathering your personal details, wiring a “prize tax” or fraudulent fee, accepting a large sum of money, and/or transferring a portion of the winning funds to another account. Similarly, investment scammers typically promise their mule victims “return” for their illegal money transfers – sometimes in the form of cryptocurrency or percentages of the money they wire. What are the Consequences? Large overdraft balances are most often the first consequence to the money mule. Once the criminal has access to their mule’s account, they typically push a large lump sum out of the account. This amount oftentimes will exceed the typical balance in the mule’s account, leaving them with a substantial negative balance to dig out from. Acting as a money mule is illegal, whether the crime is knowing or unknowingly committed. The punishment for these crimes include imprisonment and federal charges. Additionally, your identity and personal information could be stolen from the criminals involved in the money mule scheme. Internet Crime Complaint Center (IC3): The IC3 is run by the FBI and accepts online internet crime complaints from the victim at www.ic3.gov How to Protect Yourself As with most methods of protecting yourself against fraud – remain cautious whenever someone requests your personal information or banking information. Only share those details with people or organizations that you trust. If you receive a job offer from an online business, do your due diligence to confirm they are a legitimate company. Additionally, a legitimate employer will not ask you to form a company or open a new bank account on their behalf. Always be cautious if anyone asks you to wire or transfer money on their behalf. Be weary if something seems too good to be true, like you’ve won an unsolicited prize or been chosen to participate in a giveaway. Scammers act on urgency. If someone is pressuring you to do something that you’re uncomfortable with, walk away. If you or someone you know is afraid they are involved in a money mule scheme, it’s not too late to stop.  Stop communicating with the person giving the directions. Tell your financial institution and consider changing accounts. Report suspicious communications or activity to law enforcement. The Internet Crime Complaint Center (IC3) is the Nation’s central hub for reporting cyber crime and run by the FBI.  Visit www.ic3.gov for resources and more information about how to file a report. Maintain receipts, contact information and communications (emails, text messages, voicemails) so that information can be passed to law enforcement, if needed.   5 min read
Image for tile. 4 Questions to Ask Yourself as a Business Owner As a business owner, there are an endless number of questions you could be asking yourself to keep your business on the right path. Here are four questions that successful business owners consider when planning for the future: Am I setting SMART business goals? How can I invest in my staff? What are the strengths, weaknesses, opportunities, and threats of my business? What does growth look like for my business? Download our printable questionnaire to help you brainstorm ideas for your business as you read this article. 1. Am I setting SMART business goals? Every entrepreneur has aspirations for their business. That’s the easy part. Achieving those goals is where it gets tricky. Have you heard of the SMART acronym? Goals that are Specific, Measurable, Achievable, Relevant, and Timely ensure that you will be more successful in accomplishing them. Think of your SMART goals as the road map to your success. Giving yourself a specific and measurable direction will help to hold yourself accountable. Outlining achievable goals that are relevant to your business will ensure you are moving your business in the right direction, and having a set timeline will encourage you to stop dragging your feet and get moving! Set your own SMART goals Here is an example to get you started: Increase our total number of Instagram followers 15% by the end of the second quarter Social media is a powerful tool for your business. A growing social media community can correlate to a growing bottom line for your business. More followers could mean more potential customers and deepening relationships with current customers. Additionally, your business gains credibility and a competitive edge against other businesses in your industry. Specific Increase how many followers you have on Instagram by 15%. Clearly define the goal and what needs to be achieved clearly and concisely. Avoid broad statements. Measurable Increase in followers from 5,000 in the first quarter to 5,750 in the second quarter. Determine how the goal will be measured so you can track the progress. Establish specific metrics, either something quantitative, a numeric value that can be assigned; or qualitative, based on its overall quality. Achievable You already have someone on staff managing your social media and keeping up 8 min read
Business woman looking over notes while on the phone. A Complete Guide to Business Loans Owning a business comes with tremendous opportunity, but it also takes significant amounts of discipline, time, effort, and of course, money. Whether you are running a major corporation or starting a small business from the ground up, capital is vital for your growth and success. For this reason, many organizations seek business loans to obtain the financing they need. Loans in general are very common. Most people are familiar with personal loans, such as student loans, car loans, and mortgages. Business loans are actually quite similar, but they can certainly seem overwhelming at first glance. And while they are an effective tool to kickstart your business, there’s a bit more to them than that. But not to worry, we have you covered! Before applying for a business loan, it is critical to understand what they are, the standard terms and language used in business loans, what you’ll need to apply and qualify for a business loan, and the different types of business loans and their advantages. Some of this guide may seem straightforward, but at First Bank, we take pride in keeping you informed and in‑the‑know. Additionally, business loans can be hard to get, and the requirements can be strict. But that’s exactly what we’re here for — we want to help your business grow. Follow our step‑by‑step guide to prepare your business loan application and improve your odds of being approved. What This Guide Covers: What is a business loan? What are key terms to know regarding business loans? What factors do most lenders consider for business loan approval? What documents might you need to apply for a business loan? How can you improve your odds of being approved for a business loan? How does a typical business loan process work? What are the advantages of business loans? What are the different types of business loans? What Is a Business Loan? Business loans are used to finance a variety of business operations and expenses by borrowing money from a lender under specific terms and conditions. When a company needs financing or capital, it can turn to a bank or other financial institution for a business loan. Whether you’re starting, acquiring, or expanding a business, you won’t want to drain 28 min read
Homes Image
First Bank logo
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.