Business Loans
Consumer Loans
Construction Loans
Lot Loans
Prime Time Home Equity Line Program
Personal Loan
Renaissance Loan
Overdraft Protection

 

 

Business Loans

We specialize in lending to businesses. We offer a full line of commercial loan products, including:

  • Lines of Credit
  • Equipment Loans
  • Commercial Real Estate Loans
  • Commercial Construction Loans
  • Development Financing
  • Letters of Credit

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Construction Loan

The construction loan program is available for construction of owner-occupied primary residences.

General Program Guidelines:

  • Number of draws restricted
  • No inspection fees
  • Loan fee may be applicable
  • Builders risk insurance required at closing
  • All disbursements through title company escrow
  • Flood insurance, if applicable
  • Must qualify for end mortgage financing prior to loan closing

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Lot Loan

The lot loan program is available for purchase or refinance of vacant residential property up to 5 acres. Lot loan program and pricing is based on location of lot.

General Program Guidelines:

  • Various amortizations available
  • Loan fee may be applicable
  • Liability insurance required at closing

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Prime Time Home Equity Line Program

The Prime Time Home Equity Line of credit is designed for consumers who want to secure low rates by using their primary residence as collateral. Interest may be tax deductible; consult your tax advisor.

General Program Guidelines:

  • Loan to value ratios as high as 85%
  • Homeowner's insurance required/Flood insurance required, if applicable
  • Call Loan officer for further information
  • Variable interest rates available

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Personal Loan

First Community Bank offers unsecured personal loans and secured personal loans. Collateral for secured personal loans can be cash, depository accounts, cash value of life insurance, marketable stock or bonds, real estate, automobiles, boats or specific equipment.

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Renaissance Loan

The Renaissance Loan is a personal loan for the purpose of establishing or re-establishing good credit history. The loan proceeds of $3000 are used to purchase a 2 year $3000 certificate of deposit which is held as collateral for the loan. Upon repayment of the loan, the borrower has established credit and owns the certificate of deposit including accrued interest.

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Overdraft Protection

First Community Bank offers Overdraft Protection on Regular checking and NOW checking accounts. It is not available to Free checking accounts or Business checking accounts. Please contact the Loan Department for additional information.

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