The First National Bank of Waterloo

This is a local bank that offers SBA loan programs designed to help small businesses obtain financing for various needs. You can find assistance with loan applications, guidance on SBA requirements, and personalized support for your business funding needs.

It is recommended to schedule an appointment to ensure dedicated time with a loan specialist, but walk-ins are also accommodated depending on availability.

The bank operates from 9:00 AM to 5:00 PM, Monday through Friday. It is advisable to call ahead to confirm hours or schedule an appointment.

There are no fees to visit or consult with the bank; however, loan processing and application fees may apply depending on the financing options chosen.

The bank primarily serves small business owners in the Waterloo region, but eligibility for SBA loans is based on business criteria rather than residency alone.

A minimum personal credit score of 640 is generally preferred, though other factors such as business performance and collateral are also considered.

The underwriting process typically takes 30 to 45 days, depending on the completeness of documentation and loan complexity.

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

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

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

You can reach The First National Bank of Waterloo by phone at (618) 939-6194 or through their contact form at fnbwaterloo.bank/contact-us/ — confirm details with them.

Based on its approved SBA loans, The First National Bank of Waterloo most often finances businesses in restaurants & food service. This reflects The First National Bank of Waterloo'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 The First National Bank of Waterloo which sectors it actively lends to before you apply.

The First National Bank of Waterloo offers the SBA Express Loan Program with government loan guarantees and features a 10% down payment program — confirm current terms and eligibility with them.

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. The First National Bank of Waterloo can confirm its current PLP standing — ask before you apply if speed matters to you.

The First National Bank of Waterloo works with companies at all stages, including those just starting a new business — confirm specific startup financing requirements with them.

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 The First National Bank of Waterloo 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 The First National Bank of Waterloo 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 The First National Bank of Waterloo 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. The First National Bank of Waterloo weighs this case by case under its own policy, so be upfront about your history and ask The First National Bank of Waterloo how it evaluates prior bankruptcies.