Bank of Lake Mills
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by Bank of Lake Mills
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 445320 | Other | 24 | $5.3M | $221K | 75.0% |
| 238210 | Electrical Contractors | 8 | $200K | $25K | 25.0% |
Geographic Distribution
SBA lending activity for Bank of Lake Mills by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Wisconsin (WI) | 32 | $5.5M | 100.0% |
Why Choose Bank of Lake Mills?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 32 SBA loans approved, totaling $5.5M in financing
- ✓Industry Expertise: Specialized focus on Other, Electrical Contractors
- ✓Competitive Terms: Average interest rate of 6.50% with flexible term lengths averaging 129 months
- ✓Loan Range: Loan sizes from $25K to $512K, with an average of $172K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in WI
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 Lake Mills SBA lending
What types of businesses does Bank of Lake Mills typically finance?
Bank of Lake Mills specializes in SBA 7(a) lending to specific industries including other, electrical contractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Bank of Lake Mills's typical SBA loan terms?
Bank of Lake Mills's SBA 7(a) loans typically feature an average interest rate of 6.50% and average term length of 129 months (approximately 11 years). Loan sizes range from $25K to $512K, with an average loan size of $172K.
Do I need a business valuation for a Bank of Lake Mills SBA loan?
Yes, Bank of Lake Mills 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 Lake Mills compare to other SBA lenders?
Bank of Lake Mills has originated 32 SBA loans totaling $5.5M since 2020. 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 Lake Mills lend in?
Bank of Lake Mills provides SBA 7(a) financing with particularly strong presence in WI. 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?
Professional valuations are often required for SBA loans over $250,000.
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