This year, Forbes named Jacksonville, North Carolina one of the best small places for businesses and careers. Families, retirees, and business owners alike are continuously drawn to Jacksonville, making it one of the best places in NC to start a small business. If you want to start a business in Jacksonville, NC and are wondering how to apply for a small business loan, consider these helpful steps.

How To Apply For A Small Business Loan: Step-by-Step

When looking at how to apply for a small business loan, there’s some important steps you need to take.

First, you should look at what criteria your bank looks for when lending to business owners.

Second, you will need to figure out what information is required in order to apply for a loan. Different lenders will require different documents, but in general you will need:

• Personal and business credit history
• Personal and business financial statements for existing and startup businesses as well as projected financial statements
• A strong, detailed business plan
• Cash flow projections for at least a year
• Personal guarantees from all principal owners of the business

Third, you should be prepared and make sure everything is in order to make the loan process easier.

First Bank’s Small Business Loan Options

First Bank offers business loans at competitive rates, as well as other loans and credit options including:

• Business credit cards with rewards for registered users
• Lines of credit
• Commercial mortgages
• Construction loans

For more information on how to apply for a small business loan or our other lending options, call or visit one of First Bank’s 2 Jacksonville, NC locations. Our loan specialists can guide you through the process and determine which loan is best for you.

---

Loans subject to credit approval.