Business Loans

Whether you need a loan for an acquisition, temporary or seasonal cash flow, or assistance with refinancing existing debt, First National Bank & Trust has many financing options available to fit your needs.  At First National Bank & Trust, we recognize that our local businesses are the backbone of the community.  Our commercial lenders, with more than 100 years of combined commercial lending experience, are committed to understanding the fundamentals of our customer's businesses and make recommendations that best serves their needs.  With all decisions made locally, we take pride in our ability to respond quickly to our business customers located in the markets we serve in the Upper Peninsula of Michigan and Northeast Wisconsin.

Commercial Real Estate Loans

A real estate secured loan provides a one-time lump sum disbursement.  Proceeds can be used for a variety of purposes including, but not limited to, the purchase of real estate; equipment or other capital assets; expansions; and refinancing of debt.

Features of FNB & T's real estate loans include:

  • Competitively priced, fixed and variable interest rate options.
  • Amortization up to 20 years.
  • Monthly or seasonal payment options.
  • Funds available for construction, acquisitions and income producing properties. 

Term Loans

First National Bank & Trust's term loans provide financing for larger capital investments including the purchase of fixed assets including equipment, capital improvements, plant expansions and other projects requiring a longer repayment plan.  Customers will benefit from our expertise and experience in financing specialized equipment purchases in a wide range of industries from logging to manufacturing to trucking.

Features of FNB & T's term loans include:

  • Competitively priced, fixed and variable interest rate options.
  • Monthly or seasonal payment options.
  • Flexible amortization designed to fit customers' needs.

Lines of Credit

A line of credit is a pre-established amount of credit extended to a borrower that can be drawn against as needed.  Also referred to as a revolving or working capital line of credit, this source of financing is typically used for short-term needs including purchasing inventory, paying current expenses and financing accounts receivable.  Repayment is anticipated once the borrower receives payment of accounts receivable.

Feature of FNB & T's lines of credit include:

  • Amount of credit line tailored to fit borrower's needs.
  • Competitive interest rates.
  • Easily accessible.
  • Secured or unsecured.

Letters of Credit

A letter of credit is a written document issued by the bank that guarantees payment to a third party on behalf of the bank customer.  Letters of credit are commonly used when a buyer and seller are unfamiliar with each other.  A letter of credit can be used to guarantee payment by the buyer and the delivery of goods or completion of a service by the seller.  There are different types of letters of credit.  Our commercial lenders can help you determine how a letter of credit can work for you. 

United States Department of Agriculture (USDA) Rural Development Programs

The United States Department of Agriculture (USDA) provides consultations, assistance and funding opportunities for businesses located in the Upper Peninsula of Michigan and Northeast Wisconsin.  Program assistance is provided in many ways including direct and guaranteed loans, grants, technical assistance, research and educational materials.

USDA loan and grant programs include:

  • Business and industry loan guarantees.
  • Renewable energy and efficiency grants.
  • Intermediary relending programs.
  • Rural business enterprise grants.

Contact one of our commercial lenders for more information on these and other USDA programs or visit the USDA Rural Development programs website.

United States Small Business Administration (SBA) Loans

The United States Small Business Administration (SBA) was created in 1953 by the Federal Government to aid, counsel and assist small businesses.  As an approved SBA lender, First National Bank & Trust has access to the various loan programs and other resources available through the SBA.  Our experienced commercial lenders can assist you in determining which services and loan options best meet our customer's needs.

Below are brief descriptions of the most popular SBA loan programs.

7(a) Loan Program
This is the SBA's most commonly used loan program and provides financing for startup and existing small businesses for a variety of general business purposes.  The three major types of 7(a) loans are:

  • Express Programs - The SBA's express programs, including SBA Express, Community Express and Patriot Express offer streamlined and expedited loan procedures for particular groups of borrowers.
  • Export Loan Programs - These programs, including Export Express, the Export Money Capital Program and the International Trade Loan Program, were created to assist small business exporters.
  • Special Purpose Loan Programs - These unique programs offer aid to businesses impacted by NAFTA, to provide financial assistance to Employer Stock Ownership Plans and to help implement pollution control mechanisms.

CDC/501 Loan Program
This program provides long-term, fixed-rate financing to acquire fixed assets, such as real estate or equipment, for expansion or modernization.  It is designed for small businesses requiring "brick and mortar" financing, and is delivered by Certified Development Companies' (CDC) which are private, non-profit corporations set up to contribute to the economic development of their communities.

Microloan Program
This program provides small short-term loans, up to $35,000.00 for working capital or for the purchase of inventory supplies, furniture, fixtures, machinery and/or other equipment.  It is designed for small businesses and not-for-profit child-care centers needing small-scale financing and technical assistance for start-up or expansion.

Disaster Assistance Loan Program
This program provides low-interest loans to homeowners, renters, businesses of all sizes and most private non-profit organizations to repair or replace real estate, personal property, machinery and equipment, inventory and business assets that have been damaged or destroyed in a declared disaster.

For additional information on other services, tools and resources visit the United States Small Business Administration website. 

Where We Meet Online

Having trouble logging in?

Reorder your checks online