Business Loans

Operating Line of Credit

An Operating Line of Credit is a short-term, flexible loan that a business can use as needed (on supplies, payroll, etc.). A line of credit allows businesses to borrow up to a certain limit and only pay interest on the money they borrow. They then repay the funds and can continue to draw on the line (similar to a credit card). A revolving line of credit remains available over time, even if you pay the balance off (similar to a credit card). A non-revolving loan is a one-time loan that is not available after it is paid off.

Equipment Loans

Equipment Loans are loans businesses can use to buy large purchases necessary for operation. Equipment loans can be used on business-related items such as machines, restaurant ovens, copiers, and more. Equipment Loans are structured to where the business makes periodic payments the include interest and principal over a fixed term.

Commercial Real Estate Loans

Commercial Real Estate Loans refers to any income producing real estate that is used for business. This can include real estate purchases such as offices, retail stores, and apartments. Commercial real estate loans can be term loans, SBA loans, or lines of credit.

Farm Real Estate Loan

A Farm Real Estate Loan can help you purchase or expand your farm. A Farm Real Estate Loan can be used to buy land, improve existing property, or improve buildings on your property. Real Estate Loans are typically set up for the farmer to make periodic payments that include interest and principal over a fixed term for Equipment Loans.

Farm Operating Line of Credit

A Farm Operating Line of Credit is a source of funds that can be borrowed and paid back. Farm Operating Loans can be used to purchase items needed for farm operations such as fertilizer, livestock, seed, and more. A Farm Operating Line of Credit typically follows a farm’s production cycle. A revolving line of credit remains available over time, even if you pay the balance off (similar to a credit card). A non-revolving loan is a one-time loan that is not available after it is paid off.

Farm Equipment Loans

Farm Equipment Financing is a type of loan for farmers who need to make large purchases to keep their operation running. Farm Equipment Loans can be used to purchase new or used machinery or equipment. Farmers make periodic payments that include interest and principal over a fixed term for Equipment Loans.

Farmer Mac Loans

The U.S. Department of Agriculture (USDA) has a program called “Farmer Mac 2” that provides financial institutions, like The FNB Community Bank, with efficient and competitive secondary market for USDA guaranteed portions and enhances our ability to offer innovative products to our customers.

FSA Loans

The Farm Service Agency (FSA) is a division of The U.S. Department of Agriculture (USDA) that generates loans to beginning farmers who are unable to obtain financing from commercial lenders. A beginning farmer is an individual or entity who:

• Has not operated a farm for more than 10 years;
• Meets the loan eligibility requirements of the program to which he/she is applying;
• Substantially participates in the operation and;
• Does not own a farm or ranch greater than 30 percent of the average size farm in the county

Beneficial Ownership Rule Requirements

The federal government now requires that all financial institutions identify and verify the individuals ( also known as beneficial owners ) who own or control the bank's legal entity customers when opening new accounts ( deposits, loans, and safe deposit boxes ). They also consider loan renewals and certificate of deposit ( CD ) renewals as new accounts. To comply with the new law for legal entity customers, we will need a completed Certification of Beneficial Owner(s) form and copies of unexpired government-issued photo IDs with current physical addresses for each beneficial owner listed on the form prior to account opening or loan / CD renewal.