First Farmers and Merchants Bank

This is a community-focused bank offering SBA lending services to support local small and medium-sized businesses. You can find personalized financial solutions, expert guidance, and access to SBA 7(a) loans to help grow your business. The bank emphasizes community engagement and tailored financing options to meet your unique needs.

It's recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-in consultations may be available during business hours. Calling ahead can help streamline your visit and prepare necessary documentation.

The bank operates Monday through Friday from 9:00 AM to 4:00 PM. It is advisable to confirm hours before visiting, as they may vary on holidays or special occasions.

There are no fees for initial consultations; however, standard loan application fees and interest rates apply based on the loan terms and borrower qualifications.

This bank primarily serves residents and businesses within the community, but they welcome applications from qualified borrowers in the region seeking SBA financing solutions.

A minimum personal credit score of 620 is generally preferred, although other factors such as business cash flow and collateral are also considered.

The underwriting process typically takes between 30 to 45 days, depending on the completeness of your application and the complexity of your financial situation.

Most banks keep weekday business hours and are closed on weekends, and First Farmers and Merchants Bank 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 Farmers and Merchants Bank to confirm current weekend availability before you go.

First Farmers and Merchants Bank is located in Tennessee — 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 Farmers and Merchants Bank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by First Farmers and Merchants Bank itself, which runs its own lending under its own ownership. If you work at First Farmers and Merchants Bank, you can claim this listing from this page to manage it.

The core details for First Farmers and Merchants Bank — 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 Farmers and Merchants Bank before applying. If you represent First Farmers and Merchants Bank, claim this listing to keep its information up to date.

You can reach First Farmers and Merchants Bank by phone at (800) 882-8378 or online at myfirstfarmers.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 Farmers and Merchants Bank before relying on them.

Based on its approved SBA loans, First Farmers and Merchants Bank most often finances businesses in restaurants & food service, general retail, and medical practices & clinics. This reflects First Farmers and Merchants Bank's real SBA 7(a) and 504 lending history rather than a stated policy — it can still consider other industries and sets its own current preferences, so confirm with First Farmers and Merchants Bank which sectors 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 Farmers and Merchants Bank participates in SBA Express depends on its specific SBA lending authority. Contact First Farmers and Merchants Bank 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 Farmers and Merchants Bank 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 Farmers and Merchants Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask First Farmers and Merchants Bank 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 Farmers and Merchants Bank 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 Farmers and Merchants Bank 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 Farmers and Merchants Bank 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 Farmers and Merchants Bank weighs this case by case under its own policy, so be upfront about your history and ask First Farmers and Merchants Bank how it evaluates prior bankruptcies.