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

Long-Term Installment Loans

First Bank offers long-term installment loans and other types of lending that help small businesses cover expenses. The government-backed Small Business Association (SBA) helps business owners acquire long-term loans to help them grow, expand their services, or recover from disaster.

Connect with our experts at First Bank today and find out how long-term installment loans could help your business thrive and grow.

Benefits of Borrowing Long Term

Long-term installment loans offer several key benefits for small business owners:

  • Predictable, Steady Payments
    Long-term loans are usually repaid in steady monthly installments. But weekly or bi-weekly payments may be required, depending on the loan terms and conditions.
  • Fixed Rates 
    Another benefit of long-term loans are the stability of fixed rates. A fixed rate gives you more time to gradually pay back what you borrowed for costly repairs, construction, equipment, or inventory.
  • Lower Interest Rates
    Many long term installment loans, because of the length of commitment, have lower rates than other types of business financing.

Working with our network of lenders, the experts at First Bank will work with you to find the best choice for your business needs.

Other Long-Term Installment Loan Factors

Before taking out a long-term installment loan, there are a few factors to consider.

What’s true of any loan is that interest will accrue throughout its lifespan. This can take years to pay off and could become a debt burden in the long run if a detailed budget is not in place.

If you have existing debts, taking on a long-term loan may be risky. However, First Bank’s wide network of lending partners will provide the best available loan terms to help your business succeed.

Long-Term Loans with First Bank

Whether you need a long-term installment loan or something for the short term, First Bank can help you find the financing you need for your business. Find a First Bank near your and start growing your business today.

————

Source:

SBA.gov: www.sba.gov/starting-business/business-financials/borrowing-money-your-business


Loans Subject To Approval

Trending Topics

High Interest Checking Accounts In Albemarle, NC

It was not far from Albemarle, NC where in 1799 the 17-pound hunk of gold was found that sparked America’s first gold rush. While you may not strike it rich mining for gold, a high-interest checking account from...

How Much Should You Have In Savings at Age 25?

If you’re wondering how much you should have in savings by the time you’re 25, you’re already on the right track. At an age where financial independence becomes increasingly more important, how much you...

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...

Commercial Mortgage – Asheville, NC

If you are thinking about opening a business in Asheville, NC, consider a commercial mortgage with First Bank. Commercial mortgages can be used to develop or purchase land or buildings that are intended for commercial use....

Savings Account Interest Rates – Asheville, NC

If you’re looking to save for your future, First Bank is here to help. A savings account can be a useful tool for planned future projects, as well as a means of preparedness for unexpected expenses. We offer some of...

Where to Get Physician Mortgage Loans

If you’re a business-minded professional looking for a mortgage loan with a competitive rate, you’re in luck. First Bank is pleased to be the place to secure physician mortgage loans. We offer professional...

Commercial Mortgage – Wilmington NC

First Bank’s commercial mortgage lenders can put you in the right location for your Wilmington, NC, business to succeed. Our commercial real-estate loan specialists will offer you more than just a competitive...

First Bank: Financing Loans for Businesses

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...

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...

High Yield Savings Account – Jacksonville NC

Save your hard earned cash with a high-yield savings account at First Bank in Jacksonville, NC. Whether you are saving for college, saving for retirement, or just saving to take a vacation, First Bank offers...