First Federal offers a variety of lending options for your business, whether you are looking to finance growth or manage cash flow. We offer local underwriting and decision-making, giving us the flexibility to develop programs that fit your terms and repayment schedules.
Term loans provide a specific amount of money to be used to purchase assets or meet a specific financing need. With a term loan, you pay on a predetermined schedule or make monthly principal and interest payments. A term loans may be either unsecured or secured by fixed asset collateral, and interest rates are fixed for the life of the loan.
Lines of Credit
Lines of Credit give your business flexibility to finance periodic needs without applying for a term loan. You can borrow against your line of credit and pay it back as frequently as needed. Lines of credit may be either unsecured or secured by collateral such as your inventory or accounts receivable.
Real Estate Loans
Our Real Estate financing options range from owner-occupied real estate loans to commercial construction and land development lending. Our experienced commercial lenders will work with your company to develop the rate and payment program that is right for your unique needs.
For many companies, leasing business equipment or motor vehicles provides a better alternative to loans. A traditional lease agreement typically requires minimal up-front capital and may entail lower and more flexible payment options, as well as lease-end purchase options. Leasing may also include added accounting benefits over purchase, including depreciation and off-balance sheet treatment; consult your tax advisor for more details.
Business Visa® Credit Cards
First Federal Visa credit cards can provide your business with immediate access to short-term revolving credit that can be paid off in full each month or paid over time. Your authorized employees can use Visa cards for travel, entertainment and smaller business purchases.