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Business Loans From FNCB
For many companies, commercial business loans are a key to growth. They provide an immediate infusion of funds that can be used for a wide variety of purposes: one-time expenditures (like fixed-asset purchases), permanent working capital, expansion or acquisition, or taking advantage of growth opportunities. FNCB offers a wide range of flexible and customized business financing options — click the links below to learn more.
Click here to see a comparison chart of the Business Loans that we offer.
Term Loan
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Term Loans
This type of loan provides a set amount of money to purchase assets or meet another specific financing need. Repayment is based on a predetermined schedule or by making monthly principal and interest payments. A term loan can be secured or unsecured, and the interest rate is generally fixed for the life of the loan.
- Loan proceeds can be used for fixed asset acquisition, permanent working capital, refinance existing debt or other business purposes.
- Loan terms generally range from 12 to 84 months.
- Fixed rate or variable rate loans.
- Collateral consists of assets being purchased or other assets owned by borrower/guarantor.
- Regular monthly payments of principal and interest.
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Time Loans
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Time Loans
This type of loan is generally used for short-term working capital or bridge financing. The interest rate may be fixed or variable, with interest generally paid on a monthly basis.
- Loan proceeds are generally used for short-term working capital or bridge financing.
- Loan terms do not exceed 24 months.
- Fixed rate or variable rate loans.
- Loans are either secured or unsecured.
- Interest is generally payable on a monthly basis.
- The outstanding principal balance is payable at maturity.
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Lines of Credit
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Lines of Credit
With a line of credit, you can easily tap pre-approved funds when you need them — without having to wait for bank approval. These funds can be used for a variety of business purposes, from meeting short-term working capital needs to purchasing inventory.
- Revolving, short-term working capital financing.
- Either secured or unsecured.
- Periodic renewal.
- Interest only payments due monthly.
- Periodic principal repayment.
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Commercial Mortgages
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Commercial Mortgages
With a commercial mortgage, you can purchase, expand, improve or refinance owner-occupied commercial property.
- Loan proceeds are used for the acquisition or improvement of commercial real estate, or to refinance existing debt.
- Loan terms are available up to 20 years.
- Fixed rate or variable rate loans.
- Loans are secured by commercial real estate.
- Regular monthly payments of principal and interest.
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Construction Loans
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Construction Loans
These loans can help finance the construction of new buildings, improvements to existing buildings, and land acquisition.
- Construction only, mini-permanent or permanent construction financing available.
- Loan proceeds can be used for the acquisition of land and the construction of a new structure or significant improvements to an existing structure.
- Loan term for construction only generally does not exceed 24 months.
- Permanent financing is available for terms up to 20 years.
- Fixed rate or variable rate loans.
- Loans are secured by commercial real estate.
- Interest only payments during the construction period, followed by regular monthly payments of principal and interest thereafter.
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Letters of Credit
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Letters of Credit
A letter of credit is an assurance that your company has the financial resources to perform as agreed under contract.
- Stand-by letter of credit used to assure payment to a beneficiary in the event the borrower fails to pay or perform.
- Secured or unsecured
- Specific maturity, generally 1 year.
- Interest payments monthly if drawn upon; principal will be payable on demand.
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Floor Plan Lending
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Floor Plan Lending
This type of lending helps new and used automobile dealers finance inventory.
- New and used automobile inventory financing.
- Revolving credit facility.
- Secured by inventory assets being purchased and/or real estate.
- Interest payments monthly; principal payment as acquired inventory is sold.
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Municipal Financing
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Municipal Financing
Public entities, municipalities and school districts often need financing for a wide range of different purposes.
- Financing is available for various purposes including real estate acquisition and improvement, tax anticipation financing and other general purposes.
- Terms vary based on purpose.
- Generally secured by the full faith, credit and taxing authority of the public entity.
- Fixed rate and variable rate loans.
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