First Bank and Trust of Memphis

This is a commercial bank that offers SBA loan programs and financial services to small businesses in the Memphis area, helping them access capital for growth and development.

It's recommended to schedule an appointment, but walk-ins are also welcome during business hours. Contact the branch to confirm availability.

The branch operates from 9:00 AM to 5:00 PM, Monday through Friday. Hours may vary on holidays or special occasions.

There are no fees to access basic banking services, but loan application fees and closing costs may apply depending on the loan type.

This bank primarily serves residents and small business owners in the Memphis area, but they welcome qualified applicants from surrounding regions as well.

A minimum personal credit score of 640 is generally preferred, though other factors are also considered during the approval process.

The underwriting process typically takes between 30 to 60 days, depending on the complexity of the loan and completeness of the application.

Most banks keep weekday business hours and are closed on weekends, and First Bank and Trust of Memphis typically follows the same pattern. SBA lending staff are generally reachable Monday through Friday. A few locations offer Saturday or by-appointment hours, so call First Bank and Trust of Memphis to confirm current weekend availability before you go.

First Bank and Trust of Memphis is located in Texas — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.

This page is an independent directory listing for First Bank and Trust of Memphis, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by First Bank and Trust of Memphis itself, which runs its own lending under its own ownership. If you work at First Bank and Trust of Memphis, you can claim this listing from this page to manage it.

The core details for First Bank and Trust of Memphis — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with First Bank and Trust of Memphis before applying. If you represent First Bank and Trust of Memphis, claim this listing to keep its information up to date.

You can reach First Bank and Trust of Memphis by phone at (806) 259-3556 or online at firstmemphis.com — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with First Bank and Trust of Memphis before relying on them.

Like most SBA lenders, First Bank and Trust of Memphis can finance a broad range of small businesses — common categories include professional services, healthcare practices, restaurants and franchises, retail, light manufacturing, and commercial real estate. Each bank sets its own industry preferences and may avoid sectors it considers higher risk. Ask First Bank and Trust of Memphis directly which industries it actively lends to before you apply.

SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether First Bank and Trust of Memphis participates in SBA Express depends on its specific SBA lending authority. Contact First Bank and Trust of Memphis and ask if it offers SBA Express and what the current limits and terms look like for your situation.

SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established banks hold PLP status, but it varies by institution. First Bank and Trust of Memphis can confirm its current PLP standing — ask before you apply if speed matters to you.

The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. First Bank and Trust of Memphis's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask First Bank and Trust of Memphis directly whether it considers start-up loans.

For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask First Bank and Trust of Memphis what down payment it expects for your specific commercial real estate purchase.

SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask First Bank and Trust of Memphis to spell out any prepayment penalties before you sign.

SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with First Bank and Trust of Memphis to confirm it qualifies and how to document it.

A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. First Bank and Trust of Memphis weighs this case by case under its own policy, so be upfront about your history and ask First Bank and Trust of Memphis how it evaluates prior bankruptcies.