• Ag Lending
• Ag Financial Statement
• Cash Flow Form
• Business Lending
• Personal Financial Statement

Ag Lending

Agriculture is the economic backbone for Northeast Iowa. First National Bank is committed to strengthening that pillar through assisting agricultural producers in making sound financial decisions to operate and grow their farming operation. We are proud to have assisted many producers in profitably expanding and growing their business over the years and look forward to assisting you in making the sound decisions required for being competitive in today’s fast changing agricultural world! All loan decisions are made in-house, and our knowledgeable business bankers at First National Bank can provide the expertise you need to properly finance, structure, and grow your farm finances. We offer the following types of loans to fulfill the above objectives:

Operating Lines of Credit

• Pre-approved lines for future use.
• Interest only on funds used.
• Competitive rates and flexible terms
• Funds for production, operating expenses, and feeder livestock purchases

Personal Property Loans

• Pre-approved loans available for new and used machinery, breeding livestock, and minor real estate improvements
• Competitive rates and flexible repayment terms

Real Estate Financing

• First National offers a complete line of real estate financing options including funds for purchasing or refinancing real estate as well as the construction of new facilities. Short term and long term fixed rate options are available. See your ag lender for details.

Agriculture/Government Guaranteed programs
First National is an active participant in several government guaranteed loan programs including:

• FSA Guarantees
  Provides financing for operating, intermediate, and long term needs with interest reduction options available.
• SBA Guarantees
  Provides financing options for intermediate and long term needs.

Beginning Farmer Loans

First National Bank is an active participant in the Beginning Farmer loan program. If eligible, a farmer is able to obtain financing for real estate and other depreciable assets purchases at interest rates which may be one to two percentages below market rates. The Beginning Farmer Loan program can be used in conjunction with several direct loan programs through Farm Several Agency which carry very attractive interest rates and loan terms. Contact a business lender for details.

Business Lending

First National Bank is proud to play a role in helping businesses become established. We offer specially designed loans for commercial and agricultural customers including long term loans, line-of-credits, and inventory financing. We assist customer participation in special loan programs offered by the State of Iowa and the Small Business Administration. Our lending officers will help you customize a business loan to fit your individual needs.

Commercial Loans

• Operating and working capital loans secured by inventory and accounts receivable.
• Machinery and Equipment loans
• Real Estate Loans
• Floor Plan Loans
• Economic Development loans
• SBA and USDA B&I Guaranteed Loans

Lines of Credit

• Finance Seasonal Cash Flows
• Flexible borrowing arrangement for short-term funds
• Gap financing while arranging a loan
• Pre-determined amount which allows you to borrow as needed.
• Reserve Checking- a simpler line of credit linked to your business checking account

Term Loans

• Designed for intermediate term borrowing needs of 1-7 years
• Repayment based on your company's cash flow and the life of the asset.
• Used to finance permanent assets such as equipment, machinery, computers, and trucks or trailers.

Sweep Accounts

• Combines the features of a checking account with the advantages (and interest rates) of a money market mutual fund, in this easy-to-use account.
• Minimum balances required

Commercial Mortgages

• Expand or remodel existing facilities
• Purchase of new property or business
• Investment property
• Repayment schedules based on 15-20 year amortizations

Construction Financing

• Provide the short-term financing needed to complete a project
• Terms of 3-18 months
• Interest charged only on funds in use
• Interest-only payments during construction

Small Business Administration

• Low Doc Program
• 504 Fixed Rate
• 7A Guarantee

Treasurer State of Iowa

• LIFT Program (Linked Investments for Tomorrow)
• Rural Small Business Transfer Program
• Horticulture and Alternative Crops Program
• Loans to Women and Minorities

Local Loan Programs

• Waverly Main Street Design and Low Interest Loan Facade Improvement Program
• Loans for exterior improvements in the designated Waverly Main Street Area. Maximum amount: $25,000
• Waverly Loan Pool of $600,000 created by all three financial institutions in Waverly. Loans priced at 1% under New York Prime with a ceiling of 10% and a floor of 7%. Maximum term of ten years.