Whether you’re looking to purchase, renovate, or refinance your commercial real estate, First National Bank can help you achieve your goals. Our expert commercial lenders provide businesses and real estate investors with the financial solutions they need to grow and thrive. And, with a range of financial products, you can easily find a way to finance any commercial property.

Traditional Commercial Real Estate Loans

Financing for a variety of properties, including office buildings, industrial buildings, multi-family units and retail centers. With a flexible loan structure, borrowers are provided the opportunity to maximize their return on investment.

Construction Loans

Multi-stage loans that use the equity you build into your developments to unlock financing for the next phase of your projects.

Value Add CRE Financing

Bridge loans offer short-term financing designed to help you improve or resell a property when you have an opportunity right in front of you.

Land Development Loans

Loan proceeds are utilized by real estate developers to acquire and develop raw land or unimproved land parcels for future construction.

Investor Owned Residential Real Estate (IORRE) Loans

Financing provided to investors to acquire multiple SFRs, condos and townhomes for investment purposes.

Property Types

• Multi Family
• Mixed Use Buildings
• Residential Investment Properties
• Industrial Buildings
• Office Buildings
• Retail Centers

SBA loans are designed for businesses that are looking to finance any of the following: start-up, acquisition, remodel, expansion, succession, real estate purchase/construction, equipment, leasehold improvements, inventory & working capital, franchise fees, or debt refinance. We offer a full range of commercial banking products to complement SBA lending solutions and our experienced SBA Loan Officers will guide you through the eligibility requirements to determine if an SBA loan is right for your business.

SBA – 7(a) Loans

The 7(a) loan program is one of the most popular loans utilized by small businesses. The use of proceeds may include:

• Acquisition, expansion, renovation, or construction of Owner Occupied Commercial Real Estate
• Purchase Equipment & Machinery
• Working Capital
• Business Acquisition

SBA – 504 Loans

The SBA 504 Loan program is a powerful economic development loan program that offers small businesses another avenue for business financing, while promoting business growth, and job creation. The 504 Loan Program provides approved small businesses with long-term, fixed-rate financing used to acquire fixed assets for expansion or modernization. 504 loans are made available through Certified Development Companies (CDCs). 504 Loans are typically structured with First National Bank covering up to 50% of the total project costs, SBA providing 40% of the total project costs, and the borrower contributing 10% of the project costs. Under certain circumstances, a borrower may be required to contribute up to 20% of the total project costs.

The use of proceeds from 504 Loans must be used for fixed assets (and certain soft costs), including:

• The purchase of existing buildings
• The purchase of land and land improvements, including grading, street improvements, utilities, parking lots and landscaping
• The construction of new facilities or modernizing, renovating or converting existing facilities
• The purchase of long-term machinery and equipment with a useful life over 10 years

The 504 Loan program offers small businesses both immediate and long-term benefits which may include:

• Up to 90% financing
• Longer loan amortizations, no balloon payments (Equipment up to 10 years, Real Estate up to 25 years)
• Fixed-rate interest rates
• Projects up to $12,000,000

To be eligible for a 504 Loan, your business must be operated for profit and fall within the size standards set by the SBA. Under the 504 Program, a business qualifies if it has a tangible net worth not more than $15 million, and an average net income of $5 million or less after federal income taxes for the preceding two years prior to application. Loans cannot be made to businesses engaged in nonprofit, passive or speculative activities. Project must be at least 51% owner occupied if its an existing building and 60% owner occupied if its new construction.

Let’s discuss your thoughts and goals and then depending on the type and size of the loan request, you may be asked to provide the following:

• 3-years Business Federal Tax Returns
• 3-years Personal Federal Tax Returns
• Business History narrative or Business Plan
• Offer to Purchase (if buying property)
• Rent Roll (if rental property is involved)
• Personal Financial Statement

Business Checking and Savings Accounts

A financial partner can help your business grow to its full potential. First National Bank offers experienced banking professionals here in your community, ready to meet your needs and exceed your expectations. We offer expertise in all facets of business banking with a personal touch. Whether you have a small start-up or a multi-million-dollar company, we’re here to offer the services you need with the most current technology. We want to get to know you and your business.

View our Business Checking Account Options

View our Business Savings Account Options

Business Cash Management

First National Bank offers personalized cash management services to help your business reach its true potential. Our bankers are here to work with you to get to know your special business needs and help to identify the banking tools and services that will allow you to streamline your operations. We’re happy to help you set up and support the systems you need to make your business grow.

• Internet and Mobile Banking
• Bill Pay
• ACH Services
• Merchant Account Services
• Remote Deposit Capture

Learn More About our Cash Management Solutions

Real Estate Investing – How to get Started, The Beginner’s Guide

As you are looking at properties, it is important to analyze and research each property so that you can determine if it makes sense financially and fits into your overall strategy.

Understand the value of the property by looking at its price per square foot, recent comparable sales, and estimated market value. The cost per square foot is important because it helps you determine whether or not there is an opportunity for profit in buying and selling this particular piece of real estate. Understand what cash flow will be available from operating expenses like mortgage payments, insurance premiums, maintenance costs, management fees/expenses etc. These numbers should also be compared against rental income so that they are accurate before moving forward with purchasing any type of investment property.

Tip:  Some companies like Colliers provide free reporting on the current market rents and vacancies.

Click here to read the full article.

Building for Innovation

If you’re an architect, a developer or a contractor, how can your business benefit from innovative design and construction?

It all starts with the lender. If a lender is willing to provide financing for creative projects, then developers will want to build them and property owners will want to lease space in them. That gives architects and contractors more freedom. It also makes it easier for cities to take risks on urban planning projects that may not be profitable in the short term but could pay off over time by improving quality of life and reducing costs associated with infrastructure problems like flooding or traffic congestion.

Click here to read the full article.

“We bank here for our business and they are amazing. They are very accommodating on every level.”

“Excellent service and care. Everyone we have dealt with at the bank has genuinely been considerate, kind, friendly and a pleasure to work with. Definitely a great bank to work with whether it’s for personal banking, mortgages/Loans, or personal investments.”

” Very satisfied with the services provided by this financial institution. I do not live in the area but they have made it possible for me to invest and grow my rental business in the quad cities. Michael is a true professional and always carries a positive attitude. I would recommend to any out of town person that needs a bank in the area.”

“I have had nothing but great experiences with FNB-Davenport. A top notch institution.”

“I have sent many investors to Michael Elledge for commercial loans and they have ALL raved about his professionalism & willingness to go over and beyond in order to get the job done correctly and in a timely manner! Michael makes the loan process very easy as he is always on top of things & very knowledgeable! I will definitely continue to send him business in the future!”

“Highly recommend First National Bank. They’re exceptional at personalization, following through on details, being responsive, and offering competitive rates. Michael Elledge is great to work with.”

“A great bank that really connects with the community. Few banks truly understand the needs of local small businesses but they do here.”