-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
Click here <<< to learn more on all the loan options the SBA offers
- *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)
Under this program:
- SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
- Lenders may begin processing loan applications as soon as April 3, 2020. The Paycheck Protection Program will be available through June 30, 2020.
- Loan payments will be deferred for six months.
- If you maintain your workforce, SBA will forgive the portion of the loan proceeds that are used to cover the first 8 weeks of payroll and certain other expenses following loan origination.
Please complete the application and submit it along with documentation of your payroll per the application guidelines:
If you are an existing client and applying for the Paycheck Protection Program, please submit the following to FABBanker@fa-bank.net:
If you are a new client with us before and are applying for the Paycheck Protection Plan, please submit the following to FABBanker@fa-bank.net:
Economic Injury Disaster Loans and Loan Advance (EIDL)
To apply for a COVID-19 Economic Injury Disaster Loan >>> click here
- 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.
Leverage the power of self-service, digital solutions.
- ACH Cash Management allows you to pay your employees via direct deposit.
- Use our Internet Banking for account-to-account transfers and electronic bill payments.
- Wire transfer requests can be done via fax or e-mail.
- Remote Deposit Capture allows you to deposit checks from your office, eliminating a trip to the bank.
- E-mail scams are on the rise --- please be wary of clicking on links/attachments and be aware of who is sending you e-mails. We have been sharing tips for remaining safe on Facebook and Instagram.