FirstBank Acquisition or Expansion Loans

If you're looking to grow your current business, you're in the right spot.

Your business is ready to expand. And obtaining an acquisition or expansion loan can help you do just that. Whether you're looking to store more inventory, open a new location, launch a new product, or hire more staff, FirstBank can help you get there.

To get started:

Give us a call

877-249-9980

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Send us an email

businesslending@​efirstbank.com

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Find a location

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Fill out the form below and we will contact you within one business day to discuss how FirstBank can help grow your business.

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What is the Difference Between a Business Acquisition Loan and a Business Expansion Loan?

Business Acquisition Loan

A Business Acquisition Loan typically is used to purchase an existing business and often combines a variety of collateral, such as inventory, equipment, working capital, or commercial real estate.

OR

Business Expansion Loan

A Business Expansion Loan is often used to reinvest in your own company by opening another location, hiring more staff, or a variety of other reasons that you need funding to fuel growth.

Which Types of Business Acquisition or Expansion Loans Does FirstBank Offer?

We offer a variety of loan types for your business acquisition or expansion and we're happy to go into greater detail.

  • Term Loan - A term loan is probably what you're thinking of when you imagine a business loan. More likely than not, a term loan will have a fixed interest rate and predictable monthly payments. This is the most common loan type for business acquisition or expansion.
  • SBA 7(A) Loan - We work with the Small Business Administration on SBA 7(A) loans. This loan allows small business owners to borrow up to $5 million in funds for equipment purchases, real estate purchases, working capital, and even basic startup costs.
  • Equipment Financing - In some cases, an Equipment Loan might be better for your business - even if you are acquiring a business. If the majority of the purchase price for the business you're acquiring is based on the value of equipment being transferred, an Equipment Loan might make more sense. Learn more about Equipment Loans here.

What Do I Need to Consider When Applying?

We look at a variety of both personal and business financial statements when underwriting a loan. The most common items we'll need are tax returns, cash flow statement, outstanding debts, personal credit score, and business credit score. You may be asked to provide more information not listed here.

I Still Have Questions.

Great! That's what we're here for - to help your business grow and become even more successful. We're happy to discuss if acquisition and expansion financing is a good fit or if you should go in another direction. Contact a loan officer today at 877-249-9980 or complete a quick form and we'll contact you at your convenience.