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FAQ

Serving Those Who Serve

Commercial Loans

What type of loans are available?
The bank will consider all commercial and real estate loan requests for qualified borrowers. The most common types of loans are:

  • Construction loans for both residential and commercial properties.
  • Loans to purchase improved real estate. Loans to purchase a primary residence are typically handled by our mortgage company. Please refer to First Community Mortgage for information on financing your home purchase.
  • Loans to purchase equipment or commercial vehicles.
  • Working capital loans for businesses.
  • Loans to refinance existing commercial or real estate debt.

Will the bank take out-of-state real estate as collateral for a loan?
The bank does not typically make loans secured by out-of-state collateral.

What is your interest rate for commercial or real estate loans?
We use one of two pricing indexes for commercial and real estate loans: the prime rate stated in the Wall Street Journal and U.S. Treasury Rates (adjusted for constant maturity). Additions for risk, market factors, etc. may be reflected in the final calculated rate for each loan request.

All loans subject to credit approval.