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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 Month Special 1.20%
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


Home Depot Breach
Home Depot has announced a security breach that has potentially compromised customer names along with debit or credit card information of card holders that made purchases at Home Depot since April 2014. Home Depot is recommending to customers who shopped in U.S. and Canadian stores to monitor their accounts for any suspicious or unusual activity.

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