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

Use Convenient Mobile Banking Options in South Carolina

First Bank offers mobile banking for residents in South Carolina to easily access their accounts on their iPhone and Android device. Now no matter where you are, you can transfer funds, check your balance, or find your...

Best Small Business Bank – Albemarle, NC

If you’re looking for the best small business bank in Albemarle, NC—the search stops with First Bank. As a local bank, First Bank has a reputation for being an instrumental part of small businesses. Our...

30-Year Mortgage Rate Forecast Tips

A great way to lock in the best mortgage interest rate is to shop around. By learning how to read a 30-year mortgage rate forecast, homeowners can pinpoint an ideal loan. Here are some useful tips for understanding...

Best Business Checking Account – Lillington, NC

If you are a business owner, you know how important proper finance management is to running a successful business. Separating your business bank account from your personal bank account can ensure accurate bookkeeping. If...

List of Banks Headquartered in North Carolina

The fact that North Carolina is home to a large number of banks might surprise you. Over the years, the Tar Heel state has become a hub for banks of all sizes. Many community banks, like First Bank,* are headquartered in...

Banks Near Me

When you are trying to find banks near you, there are many options. With so many choices, it can be hard to be sure you’re choosing the right bank for you. At First Bank, we care about the needs of our customers....

What is Required to Open a Business Checking Account?

It’s standard for a business to have a business checking account. After all, a business needs to handle cash and pay bills. If you’re just starting a business, or even if you’re moving your business bank...

Essential Homeowner’s Insurance

Life has the ability to catch us off-guard with unanticipated and costly expenses, such as house damage from a fallen tree or basement pipes bursting during the winter season. That’s why homeowner’s insurance...

The Benefits of Checking Accounts with Online Access

Out of all the factors that tend to influence our decisions regarding financial management, levels of convenience tend to play a heavier role than others. For that reason, online tools, such as access to checking accounts...

Credit Cards for Small Business – South Carolina

First Bank is rooted in our dedication to small businesses and offering credit cards for your business is one way we can help. With six locations in South Carolina, First Bank is there to back all of your small business...