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Bank Five Nine (formerly First Bank) SBA loans review

This SBA Preferred Lender offers a variety of programs, but you can't apply online.

  • Best for fast SBA funding in all 50 states.
  • Pick something else if you don't live in Wisconsin and prefer in-person support.
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Details

Max. Amount$5,000,000
Loan Term84 to 300 months
APRVaries
RequirementsMeet standard SBA loan requirements

First, do I qualify?

Bank Five Nine doesn’t list eligibility criteria on its website. Instead, it judges businesses on a case-by-case basis. However, you’ll still need to meet standard SBA loan requirements at a minimum.

What makes Bank Five Nine unique?

Bank Five Nine stands out thanks to its status as an SBA Preferred Lender. This means it’s able to underwrite, process and issue SBA loans itself, rather than waiting on the government. Because of this, it has a faster turnaround time than other non-preferred lenders out there. On top of this, it offers a variety of SBA loans, including the SBA 7(a), Express, 504, Working Capital CAPLines and Veterans Advantage Lending programs.

When did First Bank Financial Centre change its name to Bank Five Nine?

Throughout 2020, First Bank Financial Centre has been slowly rebranding itself to Bank Five Nine. According to its website, this change is meant to reflect its unique structure and options. But as for its lending options, nothing is changing.

Pros

  • SBA Preferred Lender means it’s faster than other lenders
  • Participates in five SBA programs
  • Available in all 50 states
  • Other types of business loans available

Cons

  • Very little information available online
  • No online application
  • Only has branches in Wisconsin

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What other business loans down Bank Five Nine offer?

On top of SBA loans, Bank Five Nine also offers the following types of business financing:

  • Business line of credit. Short-term working capital available with one-year terms and interest-only payment options.
  • Business loans. Fixed- and variable-rate business loan options to acquire a new business, buy equipment or vehicles, replenish working capital and more.
  • Commercial real estate loans. Finance a warehouse, multifamily property, industrial building and more with a fixed- or floating-rate commercial real estate loan.
  • Standby letters of credit. Used in place of bid and warranty bonds, Bank Five Nine may be willing to give you a standby letter of credit that guarantees payment or performance.

How do I apply?

Bank Five Nine doesn’t have an online application. To set up an appointment with one of its commercial lenders, follow these steps:

  1. Go to First Bank Financial Centre’s website and click Business in the main navigation bar.
  2. Click Business Lending, then click SBA Lending.
  3. Scroll down to the bottom of the page and click Contact a Commercial Lender.
  4. Select an SBA specialist from the list. Each individual’s specialties and location are listed on their profile.
  5. Call or email the specialist your interested in to begin the application process.

What documents do I need to apply?

Bank Five Nine doesn’t list any documents you’ll need to apply. You’ll need to ask your Bank Five Nine SBA specialist when you call or email them to start the process.

How do repayments work?

Your repayment schedule will be based on the type of SBA loan you borrow, though most come with monthly repayments over a fixed number of years. Fees will also vary depending on the type of loan you opt for, so review your loan agreement or talk to your Bank Five Nine lending specialist for more information.

If you aren’t sure what type of SBA loan to pursue, read our guide to SBA loans to learn more about each program and compare lenders.

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Review by


Kellye Guinan is a seasoned financial writer with over 500 articles under her belt spanning all things loans from auto to personal to business and everything in between. With four years in the field and five years of research experience, she's able to make complex personal finance decisions easier for anyone to tackle. When she's not up to her knees learning about the latest trends in lending, she spends her time improving her own financial literacy and expertise — and maintaining a Duolingo streak of over 1,300 days.

Expert review

Bank Five Nine — formerly First Bank Financial Centre — is a Small Business Administration (SBA) Preferred Lender and one of the top 100 SBA lenders based on its loan volume. Because of this, it’s able to finance your loan faster than other lenders out there. It offers a wide variety of SBA loans, including the popular SBA 7(a), Express and Working Capital CAPLines programs. And unlike many lenders, its loans are available to businesses in all 50 states.

But there’s no online application, and the information you’ll find on Bank Five Nine’s website is far from transparent. To learn more about its SBA offerings — including basic information like APRs and loan amounts — you’ll need to get in touch with one of its representatives.

It’s also not ideal if you live outside of Wisconsin and prefer in-person customer support — it doesn’t have branches in any other states.

Not sure Bank Five Nine is right for you? Compare other options below.

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