Small Business Administration (SBA) Loans
At First Service Bank, we understand that the current economic crisis, as a result of the COVID-19 pandemic, has put a strain on many small business owners. We commend the US Treasury and the Small Business Administration on their efforts in putting the Paycheck Protection Program (PPP) in place to help preserve the small businesses of America, who have a huge impact on each of our communities.
As community spirit is at the center of our core values, we believe that if our communities thrive, we all thrive. First Service Bank is committed to helping you through this tough time by offering financial relief options, including the PPP loan. We are dedicated to processing these loans timely so that you are able to get back to running your business, retaining and paying your staff, and taking care of your customers.
For further information or if you would like to apply for a PPP loan, please click here..
First Service Bank is an SBA participating lender and is approved to offer SBA loan products under SBA’s Preferred Lender Program and SBA’s Express Program. The Bank’s knowledgeable staff will work with you to help you meet your business goals and determine which program best fits your business needs. We offer the following types of SBA loans:
7(a) Loan Program
7(a) Loan Program offers qualified borrowers term loans for:
- new construction
- purchase land or buildings
- purchase equipment, fixtures, lease-hold improvements
- working capital
- refinance of debt
This program offers longer terms for a variety of financing needs. Maximum loan amount is $5,000,000.
SBAExpress Loan Program
SBAExpress Loan Program offers qualified borrowers:
- revolving lines of credit
- term loans for purposes listed above under 7(a) Loan Program
This program offers a streamlined process with a quick turnaround. Maximum loan amount is $350,000.