I Need to Add On to My Business for More Space and More Employees — How Do I Finance It?

Growth is exciting—and if you’re a small business owner in Louisburg, Stilwell, Prairie Village, or anywhere nearby, you might be facing one of the best “problems” to have: needing more space to keep up with your success.

Whether you’re expanding your building, adding new equipment, or hiring a larger team, business growth comes with costs. So, how do you finance it without putting your cash flow at risk?

At First National Bank, we specialize in helping local business owners get the resources they need to grow. In this blog, we’ll walk you through your best financing options and how to take the next step with confidence.

Why Expanding Your Business Is Worth It

Before we dive into financing, let’s talk about why expansion is often a smart move:

• Increased revenue potential: More space means more customers, inventory, or production capacity.
  
  

• Hiring more employees: Scaling your team allows you to improve service and take on new work.
  
  

• Improved efficiency: A layout built for your current size can reduce bottlenecks and boost output.
  
  

• Stronger brand presence: A fresh, updated space tells the world you’re growing and thriving.
  
  

But of course, expansion isn’t free—which brings us to the big question...

How Do I Finance an Addition to My Business?

The good news is, you have several affordable options, especially if you work with a local bank near you that understands your market and your needs.

Here are the most common financing options for business expansions:

1. Business Term Loans

A business term loan gives you a lump sum of cash that you repay over a fixed period—typically 1 to 10 years—with interest.

Best for:

• • • Building renovations or additions
      
      

    • Equipment purchases
      
      

    • Hiring and onboarding costs
      
      

    • Long-term growth projects
      
      

Why it works:

• • • Predictable monthly payments
      
      

    • Flexible terms and rates
      
      

    • Can be secured or unsecured
      
      

At First National Bank, we offer term loans with competitive rates and flexible terms—so you get the funds you need without overextending your budget.

2. Commercial Real Estate Loans

If you’re planning a major expansion to your building or moving to a larger location, a commercial real estate loan may be the right fit.

Best for:

• • • Buying a new building
      
      

    • Expanding your current facility
      
      

    • Purchasing land for future growth
      
      

Why it works:

• • • Longer repayment terms (often 10–25 years)
      
      

    • Can be structured with interest-only periods during construction
      
      

    • Great for businesses ready to invest in their own property
      
      

We’re a local bank near you, which means we understand the real estate market in your area—and we’ll help you protect your investment as you grow.

3. SBA Loans (Small Business Administration)

SBA loans are partially guaranteed by the government, which allows lenders like us to offer lower interest rates and longer repayment terms to small businesses.

Best for:

• • Expansions with larger capital needs
    
    

  • Businesses without perfect credit or collateral
    
    

  • Owners looking for lower monthly payments
    
    

Why it works:

• • • Loan terms up to 25 years
      
      

    • Low down payment options
      
      

    • Used for real estate, equipment, working capital, and more
      
      

First National Bank is proud to help local businesses navigate the SBA process. Our team makes the process simple and stress-free.

4. Business Lines of Credit

If you need flexible access to cash—rather than a lump sum—a business line of credit might be your best option.

Best for:

• • • Covering payroll for new hires
      
      

    • Managing unexpected costs during construction
      
      

    • Short-term cash flow gaps
      
      

Why it works:

• • • Only pay interest on what you use
      
      

    • Reuse the credit line as you repay it
      
      

    • Fast access to funds when you need them
      
      

Many of our clients use a line of credit to smooth out cash flow during big transitions—especially when growth is happening quickly.

Why Work With a Local Bank?

Big banks might offer business loans, but when it comes to expanding your business, local experience matters. Here’s why working with a bank close to you makes a difference:

✅ Local Insight

We understand the economic landscape in Louisburg, Stilwell, Prairie Village, and surrounding areas—because we live and work here too.

✅ Personalized Service

You’re not just a number. Our loan officers offer in-person consultations and get to know your business goals in detail.

✅ Faster Decisions

We don’t need to send your application across the country. Our decisions are made right here, often within a few days.

✅ Great Reviews & Customer Loyalty

Our clients rave about our great customer service, easy application process, and willingness to go the extra mile.

What to Expect: The Loan Process in 5 Simple Steps

We know the idea of taking on financing can feel overwhelming, but it doesn’t have to be. At First National Bank, we make the process as simple and transparent as possible.

Here’s how it works:

Step 1: Schedule a Consultation

Visit a branch near you or schedule a call with one of our business bankers. We’ll review your goals, timeline, and financial needs.

Step 2: Choose the Right Loan Option

We’ll walk you through your options and help you choose a solution that balances cost, flexibility, and risk.

Step 3: Submit Documentation

Typical documents include:

• • Business financial statements
    
    

  • Personal and business tax returns
    
    

  • Expansion plans or cost estimates
    
    

  • Business licenses or registrations
    
    

Step 4: Approval and Closing

Once approved, we’ll work quickly to finalize the terms and issue the funds. Our local team is here every step of the way.

Step 5: Grow with Confidence

With financing in place, you can move forward knowing your business is ready for its next big chapter.

Ready to Grow? We’re Ready to Help.

Expanding your business is a big decision—but you don’t have to do it alone. At First National Bank, we’ve helped hundreds of local entrepreneurs finance their growth with affordable solutions, great customer service, and a genuine commitment to the community.

Whether you're hiring a larger team, building out a new space, or adding a second location, we’re here to help you take the next step.

Visit a Branch Near You or Apply Online

📍 Find us in Louisburg, Stilwell, and Prairie Village
🌐 Visit www.ibankfirst.com to learn more
📞 Or call to schedule an in-person consultation

Let’s build something great—together.

Your Trusted Community Bank in Miami, Johnson, and Cass County

At First National Bank, we’re proud to serve the communities of Miami, Johnson, and Cass County with personalized, hometown banking. Whether you need personal and business loans, checking and savings accounts, CDs, IRAs, safe deposit boxes, or cash management services, we have you covered. Looking for home financing options? We offer mortgages, home equity loans, construction loans, refinancing, second mortgages, and swing loans to fit your needs. Stop by one of our convenient locations in Louisburg, Stilwell, or Prairie Village—or reach out to us today to learn how we can help you reach your financial goals.