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. ACH Payroll Rule Changes Effective March 20, 2026 At a Glance: Frequently Asked Questions What is changing with ACH payroll in 2026? Starting March 20, 2026, ACH transactions used to pay wages, salaries, or other similar types of compensation must include “PAYROLL” in the Company Entry Description field. This applies regardless of the worker's status (covering both W-2 employees and 1099 contract employees. Additionally, pre-tax deductions such as contributions to a Health Savings Account (HSA) are also required to use the "PAYROLL" descriptor. What is Nacha? Nacha is the organization responsible for setting and enforcing the rules that govern the ACH Network in the United States. Read this article to learn more about Nacha Who needs to take action? Businesses that use ACH transfer services to pay employees (both W2 and 1099) wages, salaries or other forms of compensation (including pre-tax deductions like HSA contributions) will need to ensure they are entering "PAYROLL" in the Company Entry Description field. If you upload a file to process your ACH payroll transactions, you will need to ensure that your file upload meets this new "PAYROLL" requirement. Do First Bank customers need to do anything? Many First Bank customers do not. Payroll transactions processed through Payroll Templates will be updated automatically to comply with this new rule change. If you prepare a file outside of First Bank online banking and upload it into our system, you'll need to update your file so that the Company Entry Description field is "PAYROLL". What happens if payroll files are not updated? After March 20, 2026, payroll files that do not meet the new requirement may result in returned payroll items, and originators may receive a Notice of Change. Understanding the New ACH Payroll Rule Taking Effect March 20, 2026 If your business uses ACH to pay employees, an important rule change is approaching that may affect how payroll transactions are processed. Beginning March 20, 2026, updated Nacha requirements will apply to payroll-related ACH transactions. These changes are intended to help reduce payroll fraud and prevent misdirected payments across the ACH network. This article explains what is changing, how it may apply to First Bank customers, and what steps payroll originators should take to prepare. What Is Changing? Starting March 20, 2026, ACH transactions used to pay wages, salaries, or similar compensation must include “PAYROLL” in the Company Entry Description field. This requirement applies specifically to payroll transactions and does not affect ACH payments for vendors, consumer payments, or other non-payroll activity. Nacha, the organization that governs the ACH network, introduced this change to make payroll entries easier to identify and monitor. This strengthens risk controls and helps financial institutions detect potential fraud more effectively. How This Affects First Bank Customers The impact of this change depends on how payroll ACH transactions are originated. Customers Using First Bank’s Payroll Solutions: If you use First Bank’s Payroll option within online banking, a template, or file upload, no action is required. First Bank will automatically apply the updated Company Entry Description to payroll transactions processed through these tools. Customers Using ACH Pass-Thru: Because ACH Pass-Thru files are generated externally, they will not be automatically updated to meet the new requirement. If this applies to you, contact your payroll provider to confirm that payroll files will include “PAYROLL” in the Company Entry Description field before March 20, 2026. Payroll files that do not meet the new standard may result in returned payroll items.. Unsure How Your Payroll Is Processed? If you are not certain which method you use to originate payroll ACH transactions, Business Support can help confirm your setup and explain how the change applies to your business. Why This Matters for ACH Originators Businesses that originate ACH transactions are responsible for ensuring those transactions are accurate, authorized, and compliant with Nacha rules. Staying informed about rule changes like this one can help reduce the risk of payment disruptions, avoid delays in employee payroll, and support overall ACH compliance. Share This Information with Your Team If payroll is managed by someone else within your organization, such as a payroll processor, accountant, or third-party provider, be sure to share this information so any necessary updates can be made before the March 20 deadline. Need Help? First Bank’s Business Support team is available to answer questions and assist with understanding how this change applies to your account. Phone: 1-866-435-7208 Hours: Monday through Friday, 8:30 a.m. to 5:30 p.m. 4 min read
Small business owner checking their watch How Do Small Business Owners Spend Their Time? [INFOGRAPHIC] Recent surveys give us insight into how small business owners use their time. One thing everyone agrees on? There's never enough of it. 1 min read
Image for tile. What Is Nacha? Understanding the ACH Network and Its Rules A simple way to think about Nacha: the traffic authority for ACH payments The ACH Network is the highway system that payments travel on. Banks, businesses, and payment processors are the drivers. Nacha writes the rules of the road so payments move safely and predictably. This includes defining standards, setting expectations, and establishing consequences when rules are not followed. Without shared rules, payments could be delayed, misdirected, or abused. Nacha’s role is to ensure everyone follows the same standards so payments reach the right place at the right time. Why Nacha Rules Matter Nacha rules help ensure ACH payments are authorized, properly identified, and monitored for unusual or fraudulent activity. These standards allow the ACH Network to operate at scale while remaining reliable and secure. Nacha regularly updates its rules to address emerging risks, strengthen fraud prevention, and reflect changes in how electronic payments are used. What Happens If Nacha Rules Aren’t Followed? Failing to follow Nacha rules can lead to operational and financial consequences. Depending on the issue, this may include payment delays, rejected transactions, increased scrutiny from your bank, or formal warnings and fines through Nacha’s compliance process. In serious or repeated cases, businesses may lose access to ACH services altogether. Nacha maintains a formal compliance and enforcement process to help protect the safety and reliability of the ACH Network. Why This Matters for Your Business If your business sends or receives ACH payments, Nacha rules apply to you, even if you never interact with Nacha directly. Understanding Nacha’s role helps explain why certain requirements exist and why rule changes, such as updates to payroll transaction descriptions, are introduced. Staying informed about Nacha rules can help businesses avoid disruptions and keep payments running smoothly. 2 min read
Wondering Where to Get Mobile Merchant Services? Wondering where to get mobile merchant services for your business? First Bank can help you with all of your business needs, including in-store and mobile merchant services such as payment processing, reporting, and check collection. Find your nearest First Bank location today to find out how doing business can get a whole lot easier. Mobile Credit Card Processing Services at First Bank The ability to accept and process credit and debit card transactions is essential to doing business in today’s market. With an estimated 176 million credit card users in the United States, it’s important to make sure that your business is able to accommodate your customers. By providing a selection of payment options for your customers, you can simplify your business operations and increase your revenue. First Bank’s merchant services can help your business accept several different payment options in-store and mobile, including credit cards, debit cards, electronic checks, gift cards, and more. Our credit card processing can: Reducing payment risks Creating purchasing mobility Expanding your customer base Improving revenue capture Types of Merchant Services Available Here are a variety of merchant services that First Bank offers: Payment Processing & Management These payment processing and management services provide a pricing advantage with equipment and software that allow business owners to process payments through point-of-sale terminals, Internet, wireless, mobile, and integrated solutions. This includes products such as: Credit Card Processing: In-Store & Mobile Reconciliation & Reporting Streamline your payment processing operations with a user-friendly, online management and reporting system. This includes: Comprehensive activity reports that allow access to all your business payment card transactions. User controls that help to create your own reports based on needed required information. The ability to respond online to chargebacks and retrievals, including exporting reports to Excel for further analysis. Reports for adjustment history, authorizations, and merchant statements when you need it. Check Collection With a two-step verification process, you can increase the profitability of your business by reducing liability, get protected against losses, and increase your sales by securely and quickly accepting checks through our verification and guarantee. Get Mobile Merchant Services Today at Your Nearest First Bank Since 1935, First Bank has been helping businesses succeed in an increasingly competitive market. Visit your nearest branch today and see what our friendly staff 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.