| | First National Bank is proud to play a role in helping businesses become established. We offer specially designed loans for commercial and agricultural customers including long term loans, line-of-credits, and inventory financing. We assist customer participation in special loan programs offered by the State of Iowa and the Small Business Administration. Our commercial bankers will help you customize a business loan to fit your individual needs. - Operating and working capital loans secured by inventory and accounts receivable.
- Machinery and Equipment loans
- Real Estate Loans
- Floor Plan Loans
- Economic Development loans
- SBA and USDA B&I Guaranteed Loans
- Finance Seasonal Cash Flows
- Flexible borrowing arrangement for short-term funds
- Gap financing while arranging a loan
- Pre-determined amount which allows you to borrow as needed.
- Reserve Checking- a simpler line of credit linked to your business checking account
- Designed for intermediate term borrowing needs of 1-7 years
- Repayment based on your company's cash flow and the life of the asset.
- Used to finance permanent assets such as equipment, machinery, computers, and trucks or trailers.
- Expand or remodel existing facilities
- Purchase of new property or business
- Investment property
- Repayment schedules based on 15-20 year amortizations
- Provide the short-term financing needed to complete a project
- Terms of 3-18 months
- Interest charged only on funds in use
- Interest-only payments during construction
- Low Doc Program
- 504 Fixed Rate
- 7A Guarantee
- Waverly Main Street Design and Low Interest Loan Facade Improvement Program
- Loans for exterior improvements in the designated Waverly Main Street Area. Maximum amount: $25,000
- Waverly Loan Pool of $600,000 created by all three financial institutions in Waverly. Loans priced at 1% under New York Prime with a ceiling of 10% and a floor of 7%. Maximum term of ten years.
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