First Bank & Trust
At a Glance
A two-state desk that says acquire a business in its first sentence and puts four named bankers on the phone; it claims no status and prints no figure of its own.
- Pricing
- Custom Pricing, Loan products. No size, rate or fee of its own is published. The SBA page restates the program's 7(a) ceiling, Express loans and lines to the program's ceiling, and 504 project financing to $12.5 million with higher limits for manufacturing and up to ninety percent of project cost. It says SBA fees vary by type and term and may be financed.
- Best For
- A buyer in South Dakota or Minnesota who wants an SBA desk that names acquiring a business before anything else and answers on a banker's direct line.
- Roadmap Stages
- 5. Diligence & Close the Deal
Pros and Cons
Pros
- Names acquiring a business in its SBA page's first sentence and lists the acquisition of a business first among 7(a) uses
- Four SBA bankers with titles and a direct phone each, from the director of SBA lending to the operations officer
- Its Express product names business acquisition second of four uses, and its 504 section restates the program's terms
- An honest, small footprint: twenty-two locations in seventeen communities in two states
Cons
- States no program status: no page calls it a Preferred Lender
- No size, rate or fee of its own for any SBA loan; every figure is the program's
- No online application for the SBA loan; a form and the team's phones
- Names no search fund, searcher or acquisition entrepreneur
What Searchers Say
Read on its SBA loans page, its SBA team page, its business loans and commercial financing pages, its story, communities, locations and news pages. No searcher-forum discussion of the desk was found.