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Small Business Loans in Wilmington, NC


Growing a business can be difficult but rewarding. Whether you are looking to build a new building for your business, move into an existing space, or purchase equipment, First Bank has the right small business loans in Wilmington, NC, to help.

Start or Expand Your Business With Small Business Loans

First Bank offers small business loan options to meet a variety of needs, including:

  • Small Business Administration (SBA) loans are options when traditional bank financing is not.
  • A business credit card with rewards that offers low rates, no annual maintenance fee, and premium benefits.
  • Lines of credit designed to meet the needs of you and your business. Have the flexibility to access cash for any purpose quickly and conveniently.
  • Business loans to give you an immediate lump-sum of cash for long-term financing.
  • Commercial mortgages to help you move your business into the space of your dreams.

Learn more about each option from First Bank below. Our loan experts can help you determine which option is best for you and your business and provide the tools you need to be successful. Visit your nearest location for a free business consultation.

SBA Loans

An SBA loan is given by a bank or private lender and guaranteed by the SBA by 80 percent. First Bank is authorized to provide SBA 7(a) loans and customized industry loans.

With our SBA loan solutions in Wilmington, you can fund many types of business developments, including:

  • Expansion and acquisition—Purchase a new facility of your own or acquire a competing facility.
  • Commercial real estate and construction—An SBA construction loan can provide the means to construct a new location or remodel an existing building.
  • Succession planning—Changing hands can prove to have many financial planning challenges for your business. One of our experts will create a high-performing SBA loan program to ensure a smooth business transition.
  • Partnership buyout—SBA funding can help you take control of your business when buying out a business partner. We’ll help you consider financial planning, retirement options, and other important issues.
  • Refinance—First Bank’s strategic SBA loan professionals will review your current loan and assess your refinancing options, helping you reduce your debt burden.

First Bank has a team of experienced SBA associates who are with you every step of the way during your SBA loan process—including those local to Wilmington, NC.

Learn more about First Bank SBA solutions, our team, and next steps, as well as find additional resources online.

Business Credit Cards

The First Bank Business World credit card is a great resource for small businesses in Wilmington for everyday and monthly business payments. This option provides convenience and financial freedom with the opportunity to earn rewards on supplies, travel, entertainment, and more when you enroll.

The First Bank Business World credit card includes these features:

  • 1.25 points for every dollar spent on qualified purchases.
  • 0% introductory APR for the first six months for new cardholders. After this time period, a variable APR will apply.
  • No annual fee.
  • Balance transfer options.
  • Security benefits, including identity theft alerts, zero liability on unauthorized purchases, employee liability protection, and MasterCard SecureCode™ (must register your card).*
  • Easy and convenient to use and manage with the mobile wallet compatibility, year-end account summary, 26-day grace period, and more.
  • Travel benefits, including travel assistance, rental vehicle insurance, and MasterCard VAT recovery.
  • Shopping benefits, such as extended warranties and purchase assistance.

Visit your nearest First Bank location to learn more, or enroll your card to start earning points.

Lines of Credit

Lines of credit from First Bank allow you to access funds when you need them for business purposes. That way, you can quickly take advantage of opportunities that arise, then repay and reuse your business line of credit as needed.

Schedule a free business financial consultation about a First Bank business line of credit.

Business Loans

First Bank business loans provide you with funds to efficiently expand your business or refinance your debt. You’ll receive an immediate lump-sum of money for long-term financing.

Forbes offers these tips when considering to apply for a business loan:

  • When preparing to apply, consider how the lender will look at your credit and risk profile. They will assess your credit score, credit report, business assets, outstanding loans, cash flow, time in business, and other factors. Take care of any issues before you decide to apply.
  • Make sure your website, social media sites, online customer reviews, and other profiles are at their best. The lender is likely to review these to learn more about your company.
  • Know how much you want to borrow and how you intend to use it. Consider asking for an amount a little higher than you calculated, so that you can avoid going into default.
  • Ask the lender about interest rates, loan origination fees, default options, payments, additional fees or costs, limitations on use, security or collateral, and other important details.

To speak to a First Bank representative about this type of Wilmington small business loan, visit your nearest location.

Commercial Mortgages

As a commercial lender, First Bank offers competitive pricing for several commercial mortgage products in Wilmington. Meet with one of our commercial real-estate specialists who is knowledgeable about the industry and market area. They can help you structure a commercial mortgage loan that puts your business in the right place to meet your goals. Contact your nearest First Bank location to schedule a consultation with one of our representatives today.

Commercial Mortgage Tips:

  • SBA 7(a) and 504 loans can also be used as commercial real estate loans.
  • Commercial mortgages can be used for office buildings, shopping centers, apartment buildings, restaurants, and more.

Wilmington, NC — A Great Place for Business

If you are researching small business loans in Wilmington, NC, you’ve made a wise decision. Forbes recently ranked Wilmington, NC #46 on the list of Best Places for Business and Careers, and it isn’t hard to see why.

The latest census counted Wilmington’s total population at 115,261. Almost 16% of the population is elderly, while the two local colleges (University of North Carolina at Wilmington and Cape Fear Community College) provide the area with plenty of college-age students and young professionals. In fact, more than 40% of the population has a bachelor’s degree or higher.

From the mile-long historic Riverwalk to the beautiful beaches, there is never a shortage of things to do or see. This is why Wilmington makes millions of dollars in tourism and travel each year.

Not only does this give business owners a diverse customer base, but Forbes also ranked Wilmington #5 in Cost of Doing Business and #48 in Job Growth, making the vibrant coastal city an obvious choice for anyone looking to start a small business.

Why Choose First Bank for Your Small Business Loan

As a business owner, you understand the importance of selecting the right partners to move you closer to your goals and secure your business. First Bank works with businesses throughout North and South Carolina by offering a full range of business banking services. Here’s why you should select First Bank to provide your small business loan in Wilmington:

  • We have a number of loan options for small businesses to meet your needs at any stage of growth or development.
  • In addition to our loan options, First Bank provides checking accounts, savings accounts, merchant services, treasury services, and more to streamline and organize your entire business.
  • Our representatives and SBA experts are local to Wilmington, so you can be confident that you’re getting advice from someone who knows the market.
  • Our small business loan rates are competitive with other options in the area.
  • First Bank is the largest community bank in North Carolina, so you get all the benefits you would if working with a larger bank while enjoying personal customer service that’s available through a local, neighborly bank.
  • We were recently named the 2018 NC Community Bank of the Year by the NC Rural Center.
  • We are driven by service, not sales, and strive to improve your personal well-being through your business.

Where to Apply for Small Business Loans in Wilmington

If you’re ready to take the next step, First Bank has plenty of options. Call or visit one of our five locations in Wilmington, NC, to talk to one of our representatives and apply for a small business loan today.

Wilmington – Porters Neck

8286 Market Street
Wilmington, NC 28411

Phone:
910‑686‑1198

Hours:
Monday-Thursday: 9am-5pm
Friday: 9am-6pm

Directions:
This location is just south of NC-140, close to the corner of Porters Neck Road and Market Street. First Bank sits between Walgreens and Harris Teeter.

Wilmington Hanover Center

3605 Oleander Drive
Wilmington, NC 28403

Phone:
910‑392‑1894

Hours:
Monday-Thursday: 9am-5pm
Friday: 9am-6pm

Directions:
This location is in The Shops at Hanover Center. It sits close to the street in front of Hobby Lobby and Harris Teeter.

Wilmington Landfall

1701 Eastwood Road
Wilmington, NC 28403

Phone:
910-509-5010

Hours:
Monday-Thursday: 9am-5pm
Friday: 9am-6pm

Directions:
First Bank at Landfall is located at the corner of Eastwood Road and Military Cutoff Road, just south of the New Hanover County Public Library (Northeast Branch).

Wilmington Main

201 Market Street
P.O. Box 600
Wilmington, NC 28401

Phone:
910-343-0181

Hours:
Monday-Thursday: 9am-5pm
Friday: 9am-6pm

Directions:
First Bank is located at the corner of North 2nd Street and Market Street, just a few blocks away from the Riverwalk.

Wilmington Monkey Junction

5102 South College Road
Wilmington, NC 28412

Phone:
910-452-3968

Hours: 
Monday-Thursday: 9am-5pm
Friday: 9am-6pm

Directions:
This First Bank location is in Monkey Junction Retail Center, north of the New Hanover County Public Library (Myrtle Grove Branch).

How to Apply for a Small Business Loan Near You

If you’re looking for the best small business bank in Wilmington, know that First Bank has everything your business needs to thrive. With our various loan options and additional business banking services, we can set you up with the right tools and resources.

Visit your nearest location to schedule a business consultation with one of our experts.

Member FDIC. Loans subject to credit approval. See our Terms and Conditions for complete details on our rewards programs.© 2019 MasterCard. MasterCard, Debit MasterCard, and the MasterCard brand marks are trademarks of MasterCard International Incorporated.

Sources:

Entrepreneur: https://www.entrepreneur.com/topic/starting-a-business

Entrepreneur: https://www.entrepreneur.com/encyclopedia/sba-loan

Inc: https://www.inc.com/jared-hecht/the-perks-of-a-business-line-of-credit.html 

Forbes: https://www.forbes.com/sites/allbusiness/2017/03/22/10-key-steps-to-getting-a-small-business-loan/#5358874140f6

ValuePenguin: https://www.valuepenguin.com/small-business/commercial-real-estate-loan#cre-loans-explained

Forbes: https://www.forbes.com/best-places-for-business/list/

CityTownInfo.com: https://www.citytowninfo.com/places/north-carolina/wilmington

Wilmington and Beaches: https://www.wilmingtonandbeaches.com/about/news-blogs/post/2017-visitor-impact-for-new-hanover-county/

Forbes Wilmington: https://www.forbes.com/places/nc/wilmington/

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