First National Bank & Trust Co

This is a local bank offering SBA loan options and financial services tailored to small businesses in the Iron Mountain area. You can find expert guidance and personalized support to help your business grow and succeed.

It's recommended to schedule an appointment to ensure dedicated time with a loan specialist, but walk-ins are also welcome during business hours.

The bank operates Monday through Friday from 9:00 AM to 5:00 PM. It's best to call ahead for specific appointment times or after-hours services.

There are no fees to visit or consult with the bank; however, loan products may have associated interest rates and fees which will be discussed during the application process.

This bank primarily serves residents and small business owners within the Iron Mountain community and surrounding areas.

A minimum personal credit score of around 640 is generally preferred, but specific requirements may vary based on the loan type and borrower profile.

The underwriting process typically takes between 2 to 4 weeks, depending on the completeness of the application and supporting documents.

Most banks keep weekday business hours and are closed on weekends, and First National Bank & Trust Co 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 National Bank & Trust Co to confirm current weekend availability before you go.

First National Bank & Trust Co is located at the address listed on this page — 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 National Bank & Trust Co, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by First National Bank & Trust Co itself, which runs its own lending under its own ownership. If you work at First National Bank & Trust Co, you can claim this listing from this page to manage it.

The core details for First National Bank & Trust Co — 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 National Bank & Trust Co before applying. If you represent First National Bank & Trust Co, claim this listing to keep its information up to date.

You can reach First National Bank & Trust Co by phone at (906) 774-2200 or online at fnbimk.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 National Bank & Trust Co before relying on them.

Like most SBA lenders, First National Bank & Trust Co 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 National Bank & Trust Co 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 National Bank & Trust Co participates in SBA Express depends on its specific SBA lending authority. Contact First National Bank & Trust Co 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 National Bank & Trust Co 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 National Bank & Trust Co's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask First National Bank & Trust Co 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 National Bank & Trust Co 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 National Bank & Trust Co 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 National Bank & Trust Co 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 National Bank & Trust Co weighs this case by case under its own policy, so be upfront about your history and ask First National Bank & Trust Co how it evaluates prior bankruptcies.