First State Bank and Trust

The SBA (Small Business Administration) is the main resource for business loans from the government. New startups and established businesses can apply for SBA loans, but there are different programs for different business needs. Here are the basics about the different types of SBA loans:  SBA 7(a) Loans  SBA 7(a) loans are best for the business owners who have a good credit score and need finance for the long term period. The term for SBA 7 (a) loans may range from 10-25 years depending on for which purpose you’re using your funds. The interest rate for SBA 7(a) loan may vary from 7-9.5%. 7% to 9.5 %, depending on tenure.  Skip If:  You need short-term financing.  SBA 504/CDC Loans  This loan is perfect for the business owners who need to invest in real estate or to buy the equipment necessary for their businesses.  In SBA 504/ CDC loans, a portion of the loan comes from a bank, and a portion comes from an SBA-approved community lender called a c

Having a bank account in the US means you can deposit your financial aid awards, loans, and stipends—all of which are typically paid by check or through net banking.  Why You Should Have a U.S. Bank Account?  With a US Bank Account, you may access your money freely and avoid whopping international fees while you’re in the US US bank accounts basically earn more interest Shopping and paying your other bills get easier Types of Bank Accounts  Savings Accounts – These are long term deposit accounts with accruing interest. The minimum balances, interests, and service fees vary from bank to bank. If you’re an international student, you probably don’t need to open a savings account.  Checking Accounts – Checking accounts are best for international students. This account allows you to frequently deposit and withdraw money. When you open a checking account, you get a checkbook and a bank card, allowing you to pay your bills through checks or online. Your minimum m