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

Important Information: We’re here to help, click here for important information on our coronavirus response.

Back
Scroll to top

How to Apply for a Small Business Loan in Florence, SC

Every successful business began with an idea. In most cases, that idea was followed by asking the common question of how to apply for a small business loan.

In Florence, SC, it’s easy to apply for a small business loan. You can start by signing up for a loan and follow that up with a trip to one of our locations on West Evans Street or Second Loop Road.

While every financial institution has its own requirements for how to apply for a small business loan, there are some standard basics every aspiring entrepreneur should have in preparation. The following guidelines are explained in further detail in this article by Fox Business.

  1. Business Plan. What kind of business are you planning to open, how will it operate and how will it be successful?
  2. Credit Reports. Your personal credit history and business credit history, if applicable, will be analyzed.
  3. Income Tax Returns and Financial Statements. Personal (and business if applicable) tax returns for the last few years as well as any personal or business banking statements.
  4. Collateral. If the loan you are seeking is a secured loan, you’ll need to offer up an item of value to be held against the loan.
  5. Personal Information. Previous aliases or addresses, education background, business experience, etc.

The Many Faces of a Small Business Loan

When determining how to apply for a small business loan, you’ll have to decide what kind of loan you are seeking. First Bank offers a number of small business loan options including lump sum loans, credit line loans, a business credit card, commercial mortgages and construction loans. Each option serves a different purpose and your Florence, SC First Bank loan associate can help you determine which one is right for you.

So stop wondering how to apply for a small business loan and visit your Florence, SC First Bank today.


Loans subject to credit approval.

———-

Sources:

Fox Business: http://smallbusiness.foxbusiness.com/finance-accounting/2014/06/05/what-need-for-small-business-loan/

Trending Topics

Home Mortgage Calculator from First Bank

A home mortgage calculator can help you determine your monthly mortgage payments. This will help you financially prepare for that future purchase, whether you are a first-time homebuyer or seeking a vacation home. You can...

Apply for a Personal Loan in Lillington, NC

If you’re looking to apply for a personal loan* in Lillington, NC, stop by the First Bank on South Main Street for competitive loan rates and flexible terms. Our banking experts will help you customize your personal...

Small Business Loan Rates in North Carolina

For competitive small business loan rates* in North Carolina, stop by your local First Bank branch to compare loans with flexible terms and highly competitive rates. We make borrowing money for your business easy and...

Personal Loan Application – Apply for a Personal Loan

When you need to apply for a personal loan, the application process shouldn’t be complicated. Avoid confusing and complicated personal loan applications at First Bank. Our application process is easy and simple. We...

Checking and Savings Account in Apex, NC

If you live in Apex, NC, and you’re looking for a great bank to open a checking and savings account, your local First Bank—near the corner of E Williams St and S Hughes St—can help. We offer...

Student Checking Account Asheville NC

First Bank in Asheville, NC, makes it easy for students to manage their funds with Campus Checking, our student checking account. Campus Checking is open to all qualified and currently enrolled undergraduate or graduate...

Apply for a Personal Loan in South Carolina | First Bank

If you’re looking for a personal loan in South Carolina, stop by your local First Bank. We offer highly competitive rates and flexible terms, allowing you to customize your loan based on your financial needs. Visit...

Small Business Loan Requirements in North Carolina

Small business loan requirements in North Carolina can vary from one year to the next, from one lending institution to the next and simply from one case to the next. There are however, a lot of common myths about small...

Savings Account – South Carolina

If you live in South Carolina and are looking for a savings account, your local First Bank can help. We offer savings accounts to meet a variety of needs, and we are dedicated to helping you find the best...

Checking Account Offers in South Carolina

If you live in South Carolina and you’re looking for some of the best checking account offers, your local First Bank can help. We offer a variety of checking account options—from basic...