Our commercial bankers have a wealth of experience and First American Bank offers commercial loan products that will fulfill a variety of needs. From equipment loans to operating lines of credit, let us help you succeed. What are you trying to accomplish, and how can we help you reach your goals?
To learn more about our commercial loan products, including our 10-year fixed-rate business loan, please contact:
COVID Response to Small Businesses
Additional funds have been appropriated for the loan programs below and we may be able to begin approving SBA PPP loans soon. Please read on for more information.
Please know that First American Bank is here for you—the banking system in the US is strong and resilient and we are continually taking measures to ensure you have access to your funds and to a banker who can assist you with any issues that arise. For the safety of our staff and our clients, we have closed our lobby but our drive up is still open, and the bank continues to be fully staffed. Please reach out if you have questions.
The documents below contain more information regarding the Small Business Relief Programs that are the result of the recently passed CARES Act.
Click here <<< to learn more on all the loan options the SBA offers in response to COVID-19
*Important Note: If you received an SBA EIDL loan from January 31, 2020 16 through April 3, 2020, you can apply for a PPP loan. If your EIDL loan was not used for payroll costs, it does not affect your eligibility for a PPP loan. If your EIDL loan was used for payroll costs, your PPP loan must be used to refinance your EIDL loan. Proceeds from any advance up to $10,000 on the EIDL loan will be deducted from the loan forgiveness amount on the PPP loan.
*Before you e-mail us your application and additional documentation, please contact us at FABBanker@fa-bank.net for a link to our secure e-mail service.
Paycheck Protection Program (PPP)
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.
Please read the instructions on the application carefully. Much of what you need to know is included in the instructions.
Under this program:
Submit the following documents when applying for the SBA PPP Loan:
Existing clients applying for the Paycheck Protection Program, please submit the following to FABBanker@fa-bank.net:
New clients applying for the Paycheck Protection Plan, please submit the following to FABBanker@fa-bank.net:
Sole proprietorship, independent contractor, or self‐employed, please submit the following to FABBanker@fa-bank.net:
PPP Loan Forgiveness
Below you will find information regarding loan forgiveness - please pay close attention to the PPP Forgiveness Application. We will share more information as the SBA provides it. Read this carefully so you understand how to proceed, how to clearly document your use of funds, for you to maximize the potential for loan forgiveness. It is important to recognize that amounts not forgiven will need to be repaid at loan maturity—the loan may be extended/refinanced at that time, or paid in cash. Unfortunately we cannot answer questions specific to your situations.
The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
Small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.
The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue.
Funds from the loan advance will be made available within three days of a successful application, and this loan advance will not have to be repaid.
We will continue to share what we receive regarding these loans so you have the best information possible and can take advantage of whichever program will most benefit your business.
Leverage the power of self-service, digital solutions.
As new guidelines are established for containing COVID-19, more and more people are working from home and avoiding unnecessary trips. We offer services to assist you with this: (this will have links to each location within our website that talks about these items)