Business Loans and Lines of Credit
Access to capital, when you need it, is critical to the success of your business. First NBC Bank offers flexible financing programs that are customized to meet the needs of our clients.
BUSINESS LINE OF CREDIT
A business line of credit allows a borrower to have access to funds, up to a predetermined limit, during the commitment period. The line of credit is expected to revolve with periodic principal reductions, which makes those funds available for later access. Typically, variable interest rates apply with interest accruing only on the outstanding balance. Collateral typically consists of company assets.
BUSINESS TERM LOAN
A business term loan is typically used to finance equipment purchases, needs for permanent working capital, improvements to facilities, or simply the refinancing of existing debt. The loan amount and terms are typically determined by the purpose of the loan and the useful life of the collateral being offered. Typically, fixed interest rates apply with a maturity of up to 5 years and longer amortization programs available (if applicable).
COMMERCIAL REAL ESTATE LOANS
Whether you are investing in commercial real estate for lease income or plan to occupy the property yourself, First NBC Bank can assist you in financing the purchase of your real estate needs. Loans are available with fixed or variable interest rates and terms up to five years with amortization programs up to 25 years. In addition to owner-occupied properties, bank loans are available to finance investments in retail property, industrial property, office property, multi-family property, and hotel properties. You are also invited to ask about specialized properties- we have expertise in financing medical facilities, gas stations/convenience stores, etc. Lastly, the bank has the ability to assist with tax credit programs that may enhance your financing package including New Market Tax Credits, Historic Tax Credits, and Low Income Housing Tax Credits.
Construction loans are similar to lines of credit (without the revolving feature) and are typically available for either ground-up construction or renovations/improvements to existing properties. Variable interest rates are most common, with the bank offering the same expertise that is available with our Commercial Real Estate Loans. Tax credit programs or other government lending programs may also be available. When the project is completed, the loan is either paid off with permanent financing or converted to a permanent loan (if originally structured as such).
SPECIALIZED AND GOVERNMENT LENDING PROGRAMS
First NBC Bank enjoys the designation as an “SBA Preferred Lender,” and is a market leader in assisting customers with Small Business Administration Loans. Loan guarantees are available through a variety of SBA programs, enabling some businesses to qualify for financing that would be difficult to obtain otherwise. In addition to SBA Loans, the Bank has the ability to offer various lending programs through the United States Department of Agriculture ("USDA"). Another example of First NBC Bank's ability to provide the best financing program for your business needs.