Bank of Alma
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Bank of Alma · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 1 | $73K | $73K | 14.3% |
| 424510 | Grain and Field Bean Merchant Wholesalers | 1 | $1.0M | $1.0M | 14.3% |
| 713910 | Golf Courses and Country Clubs | 1 | $210K | $210K | 14.3% |
| 811111 | General Automotive Repair | 1 | $8K | $8K | 14.3% |
Geographic Distribution
SBA lending activity for Bank of Alma by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Wisconsin (WI) | 6 | $1.3M | 85.7% |
| Minnesota (MN) | 1 | $210K | 14.3% |
Why Choose Bank of Alma?
Based on SBA 7(a) lending track record from 1994-2021
- ✓Proven Track Record: 7 SBA loans approved, totaling $1.5M in financing
- ✓Industry Expertise: Specialized focus on Automotive Body, Paint, and Interior Repair and Maintenance, Grain and Field Bean Merchant Wholesalers, Golf Courses and Country Clubs
- ✓Competitive Terms: Average interest rate of 5.13% with flexible term lengths averaging 153 months
- ✓Loan Range: Loan sizes from $8K to $1.0M, with an average of $210K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in WI, MN
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 of Alma SBA lending
What types of businesses does Bank of Alma typically finance?
Bank of Alma specializes in SBA 7(a) lending to specific industries including automotive body, paint, and interior repair and maintenance, grain and field bean merchant wholesalers, golf courses and country clubs, general automotive repair. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Bank of Alma's typical SBA loan terms?
Bank of Alma's SBA 7(a) loans typically feature an average interest rate of 5.13% and average term length of 153 months (approximately 13 years). Loan sizes range from $8K to $1.0M, with an average loan size of $210K.
Do I need a business valuation for a Bank of Alma SBA loan?
Yes, Bank of Alma 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 of Alma compare to other SBA lenders?
Bank of Alma has originated 7 SBA loans totaling $1.5M since 1994. 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 of Alma lend in?
Bank of Alma provides SBA 7(a) financing with particularly strong presence in WI, MN. 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.