1st State Bank

1st State Bank operates three branches within Bay and Saginaw Counties.

1st State Bank has been approved as a pilot lender for the Patriot Express Program by the U.S. Small Business Administration. The initiative was established for veterans and members of the military community wanting to establish or expand small businesses.

Loans under the program can be used for most business purposes including start-up, expansion, equipment, working capital or business-occupied real estate. Designated business lenders are allowed to follow their own internal credit review to receive the SBA guaranty, up to maximum loan amounts of $500,000.

"With military activations and extensions having a profound impact on entrepreneurs in the military community, SBA is committed to helping America's service men and women during the continuing War on Terror," SBA Administrator Steven Preston said. "We believe that Patriot Express goes directly to the needs of these American Patriots who wish to start businesses, and in the process encourages job creation and growth."

Patriot Express loans feature SBA's lowest interest rates for business loans, generally 2.25 percent to 4.75 percent over prime depending upon the size and maturity of the loan.