How Personal Credit Impacts Commercial Lending #financetips #moneymanagement
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How Personal Credit Impacts Commercial Lending #financetips #moneymanagement |
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Video From First National Bank of America |
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This Video Uploaded At 17-09-2024 19:57:31 |
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COMMERCIAL LENDING THROUGH FNBA IS ONLY AVAILABLE IN MICHIGAN.
Today, we're excited to introduce you to the world of commercial lending at First National Bank of America. Whether you're looking to finance commercial real estate, purchase equipment, or secure operating capital for your business, our experienced team is here to help you every step of the way.
WHAT IS COMMERCIAL LENDING?
Commercial lending encompasses financing for business-related purposes, such as acquiring commercial real estate, purchasing equipment, or securing working capital through lines of credit. Unlike personal loans, commercial loans are designed to meet the unique needs of businesses, ensuring they have the resources they need to grow and thrive.
WHY CHOOSE FNBA FOR COMMERCIAL LENDING?
At First National Bank of America, we specialize in commercial real estate lending. Whether it's an apartment building, an industrial facility, a retail strip center, or an office building, we have the expertise to provide financing that meets your needs. Our localized decision-making process means you’ll receive quick and personalized service from a team that understands your market.
THE IMPORTANCE OF PERSONAL CREDIT HISTORY
Even in commercial lending, your personal credit history plays a crucial role. Most of our loans are to businesses or real estate developments owned by individuals, and we typically require personal guarantees from these owners. A strong personal credit score is essential, but we also understand that life happens. Our team will work with you to understand any challenges in your credit history and find solutions that work.
WHAT TO EXPECT DURING THE LOAN PROCESS
Our process begins with getting to know you and your business. From there, we'll collect financial statements, tax returns, and personal financial statements from the business owners. We'll evaluate the cash flow and collateral supporting the loan, and guide you through our underwriting process to help you secure the financing you need efficiently and effectively.
TRUSTED ADVICE FROM EXPERIENCED PROFESSIONALS
With over 100 years of combined experience, our commercial lending team is equipped to provide expert advice and support throughout the lending process. We’re not just lenders; we’re your partners in business, helping you make informed decisions that align with your goals.
CONNECT WITH US
For more information on how First National Bank of America can support your commercial lending needs, visit our website at https://www.fnba.com/
NMLS# 413209
EQUAL HOUSING LENDER
Member FDIC
Discover more at: https://ow.ly/Hfk750Rxzzo
Connect with First National Bank of America:
Official Website: https://www.fnba.com/
LinkedIn: https://www.linkedin.com/company/fnba
Facebook: https://www.facebook.com/firstnatlbankofamerica
Instagram: https://www.instagram.com/firstnationalbankofamerica/
****Personal guarantees may be required for business loans. The requirement for personal guarantees is based on the individual assessment of the loan application and the financial standing of the business owners. *****
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