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First Mid Bank & Trust, National Association

Listed
Bank for term loans and business lines of creditMattoon, IllinoisBased in Illinois; service area not yet provided
BBLL 000842Listed Oct 2026From public recordsLast checked Oct 31, 2026
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About

First Mid Bank & Trust has a specialist insurance-agency financing business alongside its broader commercial banking. The agency programs use commission income in underwriting and distinguish term debt from annually renewable credit.

Bank. Lends to businesses from its own deposits.

This entry starts from public records. The lender fills in the rest when it claims the entry, which is free.

What they lend

Term loansBusiness lines of creditWorking capital loansBusiness acquisition loans
From the lender's own site and public records.

A second look at First Mid Bank & Trust, National Association

First Mid Bank & Trust has a specialist insurance-agency financing business alongside its broader commercial banking. The agency programs use commission income in underwriting and distinguish term debt from annually renewable credit.

Direct bank lender. Agency Finance loans are conventional commercial loans, not automatically SBA loans.

Published by Levr, not by First Mid Bank & Trust, National Association. This is a source-based profile and editorial assessment, not customer reviews or a promise of approval. Sources checked October 31, 2026.

Visit the official provider website →

Programs and published requirements

Compare the specific program and legal funding entity on your offer. Advertised limits and minimums do not guarantee eligibility or your price.

Insurance agency term financing

Amount and duration
Published minimum $50,000. Maturity can extend to ten years for independent agents or fifteen for Allstate agencies; working-capital terms are generally five or seven years.
Uses
Agency or book acquisitions, working capital, refinancing and other business investment.
Security
Commission revenue is the primary collateral source, supported by a general business-asset lien and personal guarantees.

Provider sources: Agency lending FAQ

Agency revolving credit and application

Revolving structure
Annually renewable lines with interest-only payments during the term. The agency page advertises no unused-line fees.
Commission control
Some arrangements redirect carrier commissions into a controlled account in the agency’s name.
Documentation
Requirements depend on the product and transaction. Confirm whether a simplified offer qualifies for reduced documentation rather than assuming all agency loans do.

Provider sources: Agency finance products · Application stages

When it may fit

Our assessment of the published programs

  • An insurance-agency owner comparing a book acquisition or commission-backed working-capital facility.

What to weigh carefully

  • These specialist terms do not apply to every First Mid commercial borrower.
  • Annual renewal may involve revised pricing, limits or a repayment decision.

Questions before you accept an offer

  1. How much commission revenue will be redirected and how are surplus funds released?
  2. Which owners must guarantee, and what documents apply to this product?
  3. What happens at maturity if the line is not renewed?

Ask for written terms. Compare net cash received, total repayment, fees, payment timing and early-payoff costs for the same financing need.

Prepare your comparison

Use the same questions and figures for each offer you receive.

Alternatives to research

These are options for a related financing need, not a ranking or a claim of equivalent eligibility or pricing.

Live Oak Bank

Compare Live Oak’s industry-focused financing and SBA options.

Huntington Bank

Compare Huntington for another acquisition or working-capital financing path.

The lender

Type
Bank
Legal name
First Mid Bank & Trust, National Association
Founded
1865
Charter
Not yet provided Add it
Headquarters
Mattoon, Illinois
Service area
Based in Illinois; service area not yet provided
Meets in person
Not yet provided Add it
Languages
Not yet provided Add it
Program approvals
Not yet provided Add it
Also lends to consumers
Not yet provided Add it
Website
firstmid.com
LinkedIn
Company page

Loan officers at this lender

No loan officers listed yet. Work here? Claim your profile.

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