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

Running A Business 2 min read

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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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Small Business Line of Credit Obtaining a line of credit for your small business can help your entrepreneurial spirit take the company to the next level. This line of credit can be a more affordable option than a business loan because you only pay interest on the money you utilize. Acquiring this type of loan depends on your current credit score and how much a bank perceives you as a risk. For small businesses, a line of credit is a good short-term option that works much like a credit card in the way it provides extra funds or cushion for financing “ongoing working capital.” Credit lines can be used in a variety of ways to benefit your business, including: remodeling, expanding or upgrading your facilities; buying new technological equipment; purchasing extra inventory for future events; launching a “new online marketing campaign”; creating a “new product prototype” or pursuing a “promising business opportunity”; and covering “unexpected expenses.” No matter which benefit you’re looking for with a small business line of credit, there are some factors to consider when determining if it’s the best financial option for your business’ cash flow. Top 3 Advantages of Obtaining a Small Business Line of Credit Stay in control—A line of credit enables you to further your business goals without bringing on investors, who will likely want at least some, if not a large portion, of control over your business in exchange for their financial backing. You also don’t have to “dip into personal savings or ask friends and family for money.” Financial flexibility—As previously mentioned, this credit line gives you more flexibility than a closed-end loan because you only “access money when you need it,” and you don’t have to pay interest on the funds you don’t use. Establish credit history—Building a good credit history for your business now helps to better your chances of obtaining “future credit accounts and loans.” Get a Flexible Line of Credit for Your Small Business at First Bank At First Bank, small businesses hold a special place in our hearts. Since 1935, when we opened our first branch in Troy, North Carolina, we’ve been known as a community bank that strives to assist local businesses get the financial support they need to achieve their 3 min read
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