Realize Your Dream with a Competitive New Business Loan – Asheville, NC

First Bank is the lender of choice for many borrowers in Asheville, North Carolina. A new business loan can allow you to pay for startup costs such as equipment, supplies, vehicles or inventory.

Businesses Loans and Credit from First Bank

At First Bank, we make borrowing for your business simple. We offer competitive rates and flexible terms on these new business loans:

Lines of credit
SBA loans
Commercial mortgages
Standard loans
Business credit cards

Learn more about our new business loan options and sign up for a free small business financial consultation.

First Bank offers free business consultations in addition to new business loans and other ways of helping Asheville businesses like merchant services, business checking and savings accounts, group banking and business insurance options.

A First Bank Success Story in Asheville, NC

First Bank helped one Asheville, NC company expand to seven locations from North Carolina to South Carolina, Florida and Tennessee in addition to a mobile division. Watch a video to learn about the growth of Read’s Uniforms, backed by First Bank every step of the way. First Bank can help you get started with your Asheville business, as well.

There are six First Bank locations in Asheville, North Carolina, each with banking services for new businesses. Whether it’s a new business loan, commercial mortgage, business line of credit or business credit card, First Bank is dedicated to supporting entrepreneurs in Asheville, NC.

To learn even more about First Bank, see our articles on which bank is best for me, how to get a loan for small business, home loan basics, and best bank for merchant account.

Loans subject to credit approval.

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Sources:

Investopedia: http://www.investopedia.com/terms/h/homeequitylineofcredit.asp

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Four Tips Before Starting Your Business According to research from the SBA.gov in a 2020 report of small businesses, North Carolina had a total of 934,604 small businesses. And despite everything the last year threw at us, the number of new businesses in the state continues to grow as many have been tapping into their creativity\, making the leap from side business or unemployment to self-employment. If you’re exploring the idea of starting a business, you should know that in the first two years of a business’ life, an average of 68% survive. Then after five years, 49% of those are in business, and 34% make it to that 10-year mark. The trick to being one of those survivors? Be well prepared with the right financial tools. To help, we collected the following 4 tips to help you start your business off on the right foot. Consider where you want your business to go. Before you start, think about your daily life and understand your market. Why do you want to start your own business? Do you understand your industry or your customer base? What is your daily activity like? Do you have extra income? Think about your long-term goals. What risks are you willing to take? Then, think about your business idea. Do you have a business plan? How will you purchase necessities you will need to start out? Do you have a plan for growth? Answers to these questions will be different for every potential business owner, but making a decision on these topics may lead you to tip number two. 2. Get your finances in order. Start by making a budget for your business. Things to include might be the cost of supplies, equipment, rental fees for your storefront, travel, or anything else that is a requirement for your startup. Next, consider your initial financial goals for your new business. Establishing financial goals (annual, monthly, weekly, and even daily) can keep you on track if you are planning to open or accept customers in the near future. Need help sticking to the plan? Take our financial course on creating a budget, which teaches you strategies and tips to help you stay on track. 3. Consider how you will fund your business. Once you 5 min read

Why Good Business Credit is Essential for the Success of your Business 1. Better Financing Options When your business has strong credit, it becomes easier to secure loans, lines of credit, and other forms of financing. Not only will you have access to more options, but lenders are also likely to offer you more favorable terms, such as lower interest rates and higher credit limits. Lower interest rates can save your business a substantial amount of money over time, while better terms provide flexibility in managing cash flow, covering operational expenses, or investing in growth. Good business credit reduces the risks for lenders, meaning they are more willing to trust your business’s financial stability. This trust is rewarded through more affordable financing options, which can play a significant role in sustaining and expanding your operations. 2. 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Realize Your Dream with a Competitive New Business Loan – Asheville, NC

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Businesses Loans and Credit from First Bank

A First Bank Success Story in Asheville, NC

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