First Home Bank business loans review

First, do I qualify?

First Home Bank doesn’t advertise specific eligibility requirements for its business loans. But you’ll need to be in a state where First Home Bank issues loans:

You’ll also have to meet the standard requirements set by the Small Business Administration (SBA) if you want to apply for a government-backed loan. First Home Bank may have additional eligibility requirements.

What makes First Home Bank business loans unique?

First Home Bank can be a great source for government business loan programs. It’s a member of the SBA Preferred Lender Program (PLP), which means it has the authority to underwrite, process and issue SBA loans itself, rather than going through the government. This often translates into a faster, more streamlined borrowing process than you might get with other SBA lenders.

The SBA only grants lenders preferred lender status after they have a track record showing they understand the policies and procedures of this government-backed program. And First Home Bank has experience with a wide range of SBA loans, including 7(a), 504 and International Trade Loans. It also offers financing through the US Department of Agriculture Business and Industry (USDA B&I) Loan Program.

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Name	Product	Filter Values	Loan amount	APR	Requirements
Fora Financial business loans Finder Rating: 4.1 / 5: ★★★★★			$5,000 – $500,000	Varies	6+ months in business, $12,000+ monthly revenue, no open bankruptcies	Get qualified for funding in minutes for up to $500,000 without affecting your credit score. Best for companies with at least six figures in annual revenue.	Go to site More Info	Compare	loading Fetching your data…
Lendio business loans Finder Rating: 4.75 / 5: ★★★★★			$500 – $5,000,000	Starting at 6%	Operate business in US or Canada, have a business bank account, 560+ personal credit score	Submit one simple application to potentially get offers from a network of over 300 legit business lenders.	Go to site More Info	Compare	loading Fetching your data…
National Funding business loans Finder Rating: 4.75 / 5: ★★★★★			$5,000 – $500,000	4% to 8%	Be in business at least one year and make at least $150,000 in annual sales. Other loan types have additional requirements.	Working capital loans and equipment financing, some high-risk industries may be eligible.	Go to site More Info	Compare	loading Fetching your data…
Fundbox lines of credit Finder Rating: 4.2 / 5: ★★★★★			$1,000 – $150,000	Not stated	6 + months in business, $100,000+ in annual revenue, 600+ credit score	Get flat rate, short-term financing based on the financial health of your business, not your credit score.	Go to site More Info	Compare	loading Fetching your data…
Bitty Advance business cash advances Finder Rating: 2.8 / 5: ★★★★★			$2,000 – $25,000	Not applicable	$5,000 monthly bank revenue, 6+ months in business, business bank account open 3+ months, 450+ credit score	With APRs in the triple digits, this is best saved as a last resort.	Go to site More Info	Compare	loading Fetching your data…

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How do I apply?

You can apply over the phone or in person. If you’re going in person, you might want to call ahead and find out what documents you need — though not all locations have phone numbers.

Follow these steps to find out who to contact to start your application:

1. Go to the First Home Bank website.
2. Click Locations in the top menu.
3. Scroll down to find a loan production office in your area.

Call the number or stop by your local office to get started on the application. SBA loan applications are typically much more involved than other types of business loan applications. Even with a preferred lender, it can take at least a few weeks.

What documents do I need to apply?

First Home Bank doesn’t disclose what documents it requires — and often, it depends on the business. But you might have to provide the following documents at a minimum:

• Business tax returns
• Personal tax returns
• Profit and loss statement
• Business debt schedule
• Financial projections

How do repayments work?

Your repayment terms will be outlined in your loan documents. Typically, SBA loans come with monthly repayments. Ask your First Home Bank loan specialist if you can sign up for autopay so you don’t have to take the time to manually make repayments each month.

If you have any questions or concerns about your loan repayments, reach out to customer service as soon as possible.

See how First Home Bank compares to other lenders with our guide to business loans.