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

Small Business Loan Requirements – Sanford, NC

Starting a business takes innovation, courage and commitment. It also means satisfying a number of small business loan requirements.

At the top of that list is finding a cooperative lender who is willing to work with you to turn your vision into a reality. In Sanford, North Carolina, First Bank has two branch locations willing to do just that.

Common Small Business Loan Requirements

Specific small business loan requirements can vary from one lender to the next but there are some demands that remain fairly standard across the board. You will be asked questions, such as:

  • Why do you need a loan and what will the money be spent on?
  • What is your business plan?
  • What does your credit report and income tax returns look like?
  • Can you show signed financial statements?
  • Do you have a business license, commercial lease or mortgage, contracts or franchise agreements?
  • Do you have any worthy collateral?
  • Who else will be involved in managing the loan?

Because each state, county and town has its own restrictions on small business loans, it’s best to contact an attorney or check with your town in which you plan to operate.

Once you have the necessary small business loan requirements in order, the final piece of the puzzle rests with a trusted lender with a promising history of small business lending.

Small Business Loans from First Bank

A small business loan from First Bank can provide you with the foundation of cash you need to make your initial purchases such as inventory, equipment or supplies. First Bank offers the following small business loans:

  • Lines of credit
  • Standard business loans
  • Business credit cards with rewards
  • Commercial mortgages
  • Construction loans
  • SBA loans

First Bank offers free consultations for anyone seeking small business help at either our South Horner Boulevard or Plaza Boulevard location. Visit us to learn more about Sanford, NC, small business loan requirements today!


Loans subject to credit approval.

Trending Topics

Banks With Hassle-Free Checking Accounts

If you’re like most people, you probably want a checking account with all the perks but none of the stress. First Bank has more than 100 locations throughout North Carolina and South Carolina that offer banks with...

Mortgage Q&A: What Are Current FHA Rates?

What are FHA mortgage rates? They’re the rates associated with an FHA mortgage. FHA mortgage rates will vary based on a number of factors. There are fixed rates and adjustable rates, down payments, credit scores of...

ACH Positive Pay

If you are a business owner, you should spend your time worrying about growing a successful business, not worrying about fraudulent transactions. That’s where ACH Positive Pay comes in. What is ACH Positive Pay?...

Wondering Where to Get Mobile Merchant Services?

Wondering where to get mobile merchant services for your business? First Bank can help you with all of your business needs, including in-store and mobile merchant services such as payment processing, reporting, and check...

Find the Best Bank for a Student Checking Account

Student checking accounts are a great way for college students to get their finances in order and prepare for the future. But finding the right checking account at the best bank takes some research. Deciding which bank...

Best Personal Loan Rates in North Carolina

If you live in North Carolina and are looking for a personal loan, your local First Bank can help. We have over 100 locations in North Carolina that offer highly competitive personal loan rates. We make...

Best Savings Account for Kids – Asheville, NC

If you have kids, one of the most valuable lessons you could teach them is the value of a dollar. But just like anything else, you don’t want to settle for just any old savings account. You want the best savings...

Creating a Competitive Employee Benefits Plan

Employee benefits plans are an important part of any business owner’s company structure. Part of attracting and retaining talented employees is offering them a competitive benefits package. Some benefits are required...

Need Help Financing a Wedding in North Carolina?

If you need help financing a wedding in North Carolina, just seek out one of 100+ First Bank locations scattered from Asheville to Kill Devil Hills. We offer a variety of loans that can help you finance the wedding of...

Bank Accounts for Businesses in South Carolina

Do you own a South Carolina business? Are you looking to start one? There are a number of reasons why South Carolina is a great state to do business. And First Bank* is here to provide the bank accounts, tools and services...