First National Bank - Business Lending

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Business Lending

Commercial Loans
Lines of Credit
Term Loans
Sweep Accounts
Commercial Mortgages
Construction Financing
Small Business Administration
Treasurer State of Iowa
Local Loan Programs

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 lending officers 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.

Sweep Accounts

Combines the features of a checking account with the advantages (and interest rates) of a money market mutual fund, in this easy-to-use account.
Minimum balances required

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

LIFT Program (Linked Investments for Tomorrow)
Rural Small Business Transfer Program
Horticulture and Alternative Crops Program
Loans to Women and Minorities

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.

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CURRENT CD RATES

APY as high as:	Rate
11 Months	1.50%
36 Months	2.10%
60 Months	2.65%
Rates Subject to Change

SEE ALL CURRENT RATES

News

Money-Saving Tips for Back-to-School Shopping
It’s back-to-school time, which means it’s also back-to-school shopping season! As a new school year approaches, shopping for school supplies doesn’t have to break your family's budget. Here are seven tips to help maximize your savings this year.

FDIC Coverage to $250,000 Made Permanent
The Dodd-Frank Wall Street Reform and Consumer Protection Act signed by President Barack Obama on July 21, 2010, made permanent the current standard maximum deposit insurance amount (SMDIA) of $250,000. The FDIC coverage limit applies per depositor, per insured depository institution, for each account ownership category.

First National Bank Wants Customers Aware of New Overdraft Rules
First National Bank wants consumers to be aware of new rules that will go into effect this summer governing overdraft coverage and fees. These rules prohibit financial institutions from charging overdraft fees on ATM withdrawals and debit card purchases unless the consumer has opted into the overdraft coverage service. The new rules take effect July 1 for new accounts and Aug. 10 for existing accounts.

More News.