1st Security Bank’s flexible financing solutions are tailored to fit your business. We understand that every business is unique and has different borrowing needs that vary in unexpected ways. Our job is not to predict what you want to do with your business, but to help you meet your goals. Our staff is experienced and fully prepared to evaluate your business as well as your future. We want to do more than just lend money. We want to create relationships built on one common interest: your business.
Small Business Administration Loans
SBA 7(a) Loans
Small Business Administration (SBA) Loans are government-guaranteed and designed to help small business obtain credit on terms that might not otherwise be available to them. SBA 7(a) loans offer repayment flexibility, longer terms and, in some cases, lower down payment requirements compared to other types of business financing. The longer terms available with SBA loans result in lower monthly payments to free up cash flow for other business uses.
Use of Funds
SBA loans can be used for working capital, refinancing existing business debt, purchasing inventory, equipment and facilities, as well as many other business uses.
Repayment Terms
The repayment terms are typically between five and twenty-five years depending on the purpose of the loan, and the cash flow needs of the business.
Loan Size
Loans are available up to $5,000,000.
How to apply
Contact your local 1st Security Branch manager, or the SBA department at 425.697.8052 to discuss your loan proposal.
Please be prepared to provide the following information:
- Proposed project description
- The benefits that will be derived from the proposed loan.
- Financial statements on the individuals
- The last three yearend financial statements and a current interim financial statement on the business.
- Tax returns on the individual and the business
- A resume on the owner
Working Capital Lines
Revolving lines of credit
1st Security Bank offers customized Lines of Credit that allow you to obtain capital for short-term needs. The repayment schedules, terms, amounts and collateral can be structured to meet the specific needs of your business. We provide flexibility for all business borrowing based on your specific circumstances.
Lines of Credit are a convenient way to finance:
- Seasonal cash needs
- Receivables
- Inventory
Term Loans
1st Security Bank offers term loans that are set up to accommodate your specific business situation. Each one of our loans is specially analyzed and serviced by commercial lenders who have your interest in mind. They have full knowledge of your industry, your business structure, your goals and the means to provide customized solutions.
1st Security Bank has business loans that are perfect for:
- Equipment Purchases
- Facilities Purchases
- Business Acquisitions
- Debt Refinancing
When you choose a loan, it can be set up to accommodate your business structure. The term can correspond with the life of your asset and your repayment schedule can be arranged to fit your cash flow. A cost-effective alternative to a loan may be to lease certain items such as equipment or vehicles.
Equipment Financing
Financing your equipment through 1st Security Bank provides many advantages for business owners:
- Fixed rates for the complete term of the loan
- Loan and lease programs tailored to meet your company’s needs
- Lease terms structured to comply with your company’s accounting or tax regulations
When you finance, you have the opportunity to utilize your capital for other business opportunities. The equipment that you obtain will also provide the ability to generate more revenue to cover the payments. Loan and lease options from 1st Security Bank can raise your business to the next level, on your terms.
For more information
Please contact a business specialist with questions about your business lending options at 1st Security Bank.