Bank of Erath
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Bank of Erath · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 624410 | Child Care Services | 1 | $150K | $150K | 14.3% |
| 484121 | General Freight Trucking, Long-Distance, Truckload | 1 | $200K | $200K | 14.3% |
| 212321 | Construction Sand and Gravel Mining | 1 | $250K | $250K | 14.3% |
| 238910 | Site Preparation Contractors | 1 | $225K | $225K | 14.3% |
| 541512 | Computer Systems Design Services | 1 | $60K | $60K | 14.3% |
Geographic Distribution
SBA lending activity for Bank of Erath by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Louisiana (LA) | 7 | $1.2M | 100.0% |
Why Choose Bank of Erath?
Based on SBA 7(a) lending track record from 2011-2011
- ✓Proven Track Record: 7 SBA loans approved, totaling $1.2M in financing
- ✓Industry Expertise: Specialized focus on Child Care Services, General Freight Trucking, Long-Distance, Truckload, Construction Sand and Gravel Mining
- ✓Competitive Terms: Average interest rate of 6.11% with flexible term lengths averaging 130 months
- ✓Loan Range: Loan sizes from $20K to $250K, with an average of $165K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in LA
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 Erath SBA lending
What types of businesses does Bank of Erath typically finance?
Bank of Erath specializes in SBA 7(a) lending to specific industries including child care services, general freight trucking, long-distance, truckload, construction sand and gravel mining, site preparation contractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Bank of Erath's typical SBA loan terms?
Bank of Erath's SBA 7(a) loans typically feature an average interest rate of 6.11% and average term length of 130 months (approximately 11 years). Loan sizes range from $20K to $250K, with an average loan size of $165K.
Do I need a business valuation for a Bank of Erath SBA loan?
Yes, Bank of Erath 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 Erath compare to other SBA lenders?
Bank of Erath has originated 7 SBA loans totaling $1.2M since 2011. 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 Erath lend in?
Bank of Erath provides SBA 7(a) financing with particularly strong presence in LA. 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.
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