Skip to main content
_FB_2018-Icons-finalized-cleaned-up_new_FB_2018-Icons-finalized-cleaned-up_newGroup 9
Find Your Local Branch
Back
Scroll to top

Small Business Loan Requirements in Asheville, NC

Running A Business 2 min read

Ready to talk to an expert?

Find A Location Get In Touch

Did you know that loan approval rates at small banks have increased in recent months? As you’re looking into small business loan requirements in Asheville, NC, consider a community bank like First Bank.

Common Requirements for a Small Business Loan

Each lender will have its own criteria for granting a loan, but you’ll quickly realize there are some common requirements for small business loans, including:

  • Personal background, such as previous addresses, criminal record and education
  • Business plan
  • Resume/business experience
  • Personal and business credit reports
  • Tax returns, bank statements, and other financial statements

You may also be asked questions that demonstrate your vision that the loan will help materialize: why you are applying for the loan, how you are utilizing the money, and who else will be managing the money from the loan. In some cases, it may be requested that you provide some form of collateral to secure the loan.

Get a Small Business Loan at First Bank

In Asheville, NC, First Bank has three locations that offer various forms of business loans, including loans for startup costs, credit lines, commercial mortgages, construction loans, professional loans, and a business credit card.

You can learn more about First Bank’s business loans with one of our experts. Visit our Asheville, NC, branches to learn more about our small business loan requirements. Don’t rely on a big business bank for your small business needs. Come to First Bank today.

Loans subject to credit approval.

Ready to talk to an expert?

Find A Location Get In Touch
Share:
First Bank’s Good To Know Logo
Sign up for our newsletter and be the first to know about new tips, insights, and products from First Bank.
First Bank may use this email address to contact you about products, services, and promotions.

You may be interested in...

Man opening a coffee shop 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
Apartment building What It Takes to Run a Property Management Company While the economy seems to be slowly improving, property managers—like most smart business owners—must be prepared for lean times. 6 min read
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 proven history of small business lending combined with our variety of options for helping manage business funds makes First Bank the best small business bank in Albemarle and one of the best you’ll find anywhere. Better Business Banking First Bank offers top notch business features, such as: Business loans Commercial mortgages Credit cards Free financial wellness programs for your employees Business savings accounts Check fraud prevention and payment processing SBA loans Success Stories Happy Kids Development Center, a childcare facility in Wilmington, NC, made the switch to First Bank for their banking needs. Happy Kids raves about First Bank’s top notch customer service, stating, “the word ‘no’ has not been built into their vocabulary.” Contact or Visit Us Today First Bank opened its doors for the first time just 20 miles from Albemarle in 1935 and began helping local farmers and small businesses manage their money in a time when every penny mattered. It is this foundation that has allowed First Bank to grow into the best small business bank that it is today. Contact or visit one of our two Albemarle, NC locations to see how we can help your business thrive.  Albemarle Eastgate Branch 1910 East Main Street Albemarle, NC 28001 704-982-4949 HOURS | GET DIRECTIONS → Albemarle Highway 52 Branch 2317 Highway 52 North Albemarle, NC 28002 704-982-6060 HOURS | GET DIRECTIONS → Loans subject to credit approval. 2 min read
Image for tile. When Mother Nature is in Charge of Your Business Running a business that caters to tourists can be a wonderful and rewarding experience for many entrepreneurs. But with that seasonality comes an up-and-down approach to planning and managing that becomes a way of life—season after season. 5 min read