Bank of Rantoul
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Bank of Rantoul · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 532490 | Other Commercial and Industrial Machinery and Equipment Rental and Leasing | 2 | $429K | $215K | 22.2% |
| 811192 | Car Washes | 1 | $575K | $575K | 11.1% |
| 333111 | Farm Machinery and Equipment Manufacturing | 1 | $348K | $348K | 11.1% |
| 441120 | Used Car Dealers | 1 | $500K | $500K | 11.1% |
Geographic Distribution
SBA lending activity for Bank of Rantoul by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Illinois (IL) | 9 | $6.6M | 100.0% |
Why Choose Bank of Rantoul?
Based on SBA 7(a) lending track record from 2000-2012
- ✓Proven Track Record: 9 SBA loans approved, totaling $6.6M in financing
- ✓Industry Expertise: Specialized focus on Other Commercial and Industrial Machinery and Equipment Rental and Leasing, Car Washes, Farm Machinery and Equipment Manufacturing
- ✓Competitive Terms: Average interest rate of 6.11% with flexible term lengths averaging 124 months
- ✓Loan Range: Loan sizes from $127K to $2.2M, with an average of $731K
- ✓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 Rantoul SBA lending
What types of businesses does Bank of Rantoul typically finance?
Bank of Rantoul specializes in SBA 7(a) lending to specific industries including other commercial and industrial machinery and equipment rental and leasing, car washes, farm machinery and equipment manufacturing, used car dealers. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Bank of Rantoul's typical SBA loan terms?
Bank of Rantoul's SBA 7(a) loans typically feature an average interest rate of 6.11% and average term length of 124 months (approximately 10 years). Loan sizes range from $127K to $2.2M, with an average loan size of $731K.
Do I need a business valuation for a Bank of Rantoul SBA loan?
Yes, Bank of Rantoul 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 Rantoul compare to other SBA lenders?
Bank of Rantoul has originated 9 SBA loans totaling $6.6M since 2000. 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 Rantoul lend in?
Bank of Rantoul 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.
Get your certified valuation from Fair Market Value.