Bank of Farmington
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Bank of Farmington · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 312113 | Ice Manufacturing | 1 | $120K | $120K | 100.0% |
Geographic Distribution
SBA lending activity for Bank of Farmington by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Illinois (IL) | 1 | $120K | 100.0% |
Why Choose Bank of Farmington?
Based on SBA 7(a) lending track record from 2009-2009
- ✓Proven Track Record: 1 SBA loans approved, totaling $120K in financing
- ✓Industry Expertise: Specialized focus on Ice Manufacturing
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 12 months
- ✓Loan Range: Loan sizes from $120K to $120K, with an average of $120K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in IL
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 Farmington SBA lending
What types of businesses does Bank of Farmington typically finance?
Bank of Farmington specializes in SBA 7(a) lending to specific industries including ice manufacturing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Bank of Farmington's typical SBA loan terms?
Bank of Farmington's SBA 7(a) loans typically feature an average interest rate of — and average term length of 12 months (approximately 1 years). Loan sizes range from $120K to $120K, with an average loan size of $120K.
Do I need a business valuation for a Bank of Farmington SBA loan?
Yes, Bank of Farmington 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 Farmington compare to other SBA lenders?
Bank of Farmington has originated 1 SBA loans totaling $120K since 2009. 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 Farmington lend in?
Bank of Farmington provides SBA 7(a) financing with particularly strong presence in IL. 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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