First PREMIER Bank is one of the largest Small Business Association (SBA) lenders in South Dakota. We recognize that small businesses are vital to our economic growth and strength. SBA loans are backed by the U.S. Small Business Administration.
First PREMIER offers two types of SBA loans: the 7(a) Loan and the 504 Loan. Some of the benefits of SBA loans are:
- Lower down payment
- Lower monthly payment
- Longer terms
- No prepayment penalties, except for terms greater than 15 years
- Multiple interest rate options (fixed, adjustable or floating)
Contact us to help determine the business loan or line of credit that is best for you.