At First Financial, we not only offer a full line of customized business loans, we have the expertise to meet the specific needs of your business.
Working Capital Loans
Available to finance short-term credit needs, our working capital loans are offered on a revolving and non-revolving basis, and the typical term is one year or less.
Whether it’s for the purchase, feeding, and care of livestock, or for equipment purchases and farming operations, our ag loans have variable terms and flexible schedules based on the purpose of your loan and the collateral pledged.
For purchases such as plant equipment, commercial vehicles, or computer hardware and software, equipment loan terms are set according to the economic life of the equipment. Generally, they do not exceed five years.
Floor Plan Loans
Advantageous if your business carries durable goods inventory such as automobiles, appliances, diesel trucks, boats, recreational vehicles, trailers, or heavy equipment, a floor plan loan is most often used to finance high-value inventory – to preserve capital and keep an attractive selection of inventory available for customers.
Commercial Real Estate Loans
Whether your business needs to purchase, construct, or add-on to a facility for manufacturing, retail, warehouse, or office purposes, we have interim construction loans and permanent real estate loans with attractive rates and terms.
Residential Construction Loans
Available for building single-family residences, residential construction loans generally do not exceed 85% of the appraised market value or 90% of the builder's cost. Loan proceeds are funded in stages corresponding to percentage of work completed, and construction progress is monitored through periodic site inspections. Since the loan is funded as the project proceeds, the builder borrows funds to cover costs as they are incurred which lowers the cost of borrowing. This method of borrowing also assures funds are available to complete the project.
Letters of Credit
Letters of credit are available if your business is seeking a bank guarantee of payment to suppliers, governmental agencies, and other creditors. Letters of Credit terms and conditions determine the fee charged by the bank to the customer.