Bank 1st
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Bank 1st · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 111998 | All Other Miscellaneous Crop Farming | 6 | $759K | $127K | 25.0% |
| 334513 | Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables | 3 | $900K | $300K | 12.5% |
| 481211 | Nonscheduled Chartered Passenger Air Transportation | 1 | $471K | $471K | 4.2% |
| 811310 | Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance | 1 | $38K | $38K | 4.2% |
| 532490 | Other Commercial and Industrial Machinery and Equipment Rental and Leasing | 1 | $100K | $100K | 4.2% |
| 238910 | Site Preparation Contractors | 1 | $143K | $143K | 4.2% |
| 334516 | Analytical Laboratory Instrument Manufacturing | 1 | $250K | $250K | 4.2% |
| 512110 | Motion Picture and Video Production | 1 | $75K | $75K | 4.2% |
| 238990 | All Other Specialty Trade Contractors | 1 | $100K | $100K | 4.2% |
Geographic Distribution
SBA lending activity for Bank 1st by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New Mexico (NM) | 10 | $2.1M | 41.7% |
| Iowa (IA) | 14 | $1.6M | 58.3% |
Why Choose Bank 1st?
Based on SBA 7(a) lending track record from 1991-2009
- ✓Proven Track Record: 24 SBA loans approved, totaling $3.7M in financing
- ✓Industry Expertise: Specialized focus on All Other Miscellaneous Crop Farming, Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables, Nonscheduled Chartered Passenger Air Transportation
- ✓Competitive Terms: Average interest rate of 5.75% with flexible term lengths averaging 78 months
- ✓Loan Range: Loan sizes from $24K to $471K, with an average of $154K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in IA, NM
Note: Approval and terms are subject to SBA and lender requirements. This profile is based on historical data and does not guarantee future lending decisions.
Frequently Asked Questions
Common questions about Bank 1st SBA lending
What types of businesses does Bank 1st typically finance?
Bank 1st specializes in SBA 7(a) lending to specific industries including all other miscellaneous crop farming, instruments and related products manufacturing for measuring, displaying, and controlling industrial process variables, nonscheduled chartered passenger air transportation, commercial and industrial machinery and equipment (except automotive and electronic) repair and maintenance. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Bank 1st's typical SBA loan terms?
Bank 1st's SBA 7(a) loans typically feature an average interest rate of 5.75% and average term length of 78 months (approximately 7 years). Loan sizes range from $24K to $471K, with an average loan size of $154K.
Do I need a business valuation for a Bank 1st SBA loan?
Yes, Bank 1st typically requires a professional business valuation for SBA loans over $250,000 or for change-of-ownership transactions. A certified valuation helps establish the purchase price, loan amount, and ensures SBA compliance. The valuation typically costs $5,000-$15,000 depending on business complexity.
How does Bank 1st compare to other SBA lenders?
Bank 1st has originated 24 SBA loans totaling $3.7M since 1991. They distinguish themselves through industry specialization and expertise in their focus sectors. Compare their rates and terms with other lenders in our Commercial Lending Directory.
What states does Bank 1st lend in?
Bank 1st provides SBA 7(a) financing with particularly strong presence in IA, NM. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
Before applying for SBA financing, research your industry's typical loan sizes, approval rates, and specialized lenders. Understanding industry-specific financing patterns can help you find the right lender and strengthen your application.
Our industry research reports provide comprehensive intelligence for 1,000+ industries including financial benchmarks, growth trends, financing patterns, and which lenders are most active in your sector.
Explore Industry Reports →Need a Business Valuation?
Certified valuations are often required for SBA loans over $250,000.
Get your certified valuation from Fair Market Value.