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Business Lending

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.

Commercial Loans

  • 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

Lines of Credit

  • 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

Term Loans

  • 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.

Commercial Mortgages

  • Expand or remodel existing facilities
  • Purchase of new property or business
  • Investment property
  • Repayment schedules based on 15-20 year amortizations

Construction Financing

  • 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

Small Business Administration

  • Low Doc Program
  • 504 Fixed Rate
  • 7A Guarantee

Treasurer State of Iowa

Local Loan Programs

  • 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.




APY as high as: Rate
15 Months 0.70%
36 Months Raise-a-Rate** 1.00%
60 Months 1.50%
Savvy Saver 24 Month (21 years and younger) 1.00%
Rates Subject to Change


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