BankFirst
SBA 7(a) Lending Profile · FY 2021 analysis
Industry Focus
Top industries served by BankFirst
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 713940 | Fitness and Recreational Sports Centers | 8 | $880K | $110K | 7.1% |
| 722511 | Full-Service Restaurants | 8 | $1.3M | $159K | 7.1% |
| 562991 | Septic Tank and Related Services | 8 | $3.6M | $453K | 7.1% |
| 722513 | Limited-Service Restaurants | 8 | $7.0M | $872K | 7.1% |
| 513199 | Other | 8 | $5.2M | $653K | 7.1% |
| 423310 | Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers | 8 | $3.5M | $439K | 7.1% |
| 621310 | Offices of Chiropractors | 8 | $1.2M | $150K | 7.1% |
| 531130 | Lessors of Miniwarehouses and Self-Storage Units | 8 | $5.8M | $728K | 7.1% |
| 115116 | Farm Management Services | 8 | $6.0M | $750K | 7.1% |
| 812332 | Industrial Launderers | 8 | $960K | $120K | 7.1% |
Geographic Distribution
SBA lending activity for BankFirst by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Nebraska (NE) | 88 | $37.3M | 78.6% |
| Hawaii (HI) | 16 | $11.6M | 14.3% |
| South Dakota (SD) | 8 | $5.6M | 7.1% |
Why Choose BankFirst?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 112 SBA loans approved, totaling $54.6M in financing
- ✓Industry Expertise: Specialized focus on Fitness and Recreational Sports Centers, Full-Service Restaurants, Septic Tank and Related Services
- ✓Competitive Terms: Average interest rate of 6.66% with flexible term lengths averaging 133 months
- ✓Loan Range: Loan sizes from $110K to $872K, with an average of $487K
- ✓Nationwide Reach: Active lending in 3 states, with strong presence in NE, HI, SD
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 BankFirst SBA lending
What types of businesses does BankFirst typically finance?
BankFirst specializes in SBA 7(a) lending to specific industries including fitness and recreational sports centers, full-service restaurants, septic tank and related services, limited-service restaurants. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are BankFirst's typical SBA loan terms?
BankFirst's SBA 7(a) loans typically feature an average interest rate of 6.66% and average term length of 133 months (approximately 11 years). Loan sizes range from $110K to $872K, with an average loan size of $487K.
Do I need a business valuation for a BankFirst SBA loan?
Yes, BankFirst 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 BankFirst compare to other SBA lenders?
BankFirst has originated 112 SBA loans totaling $54.6M 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 BankFirst lend in?
BankFirst provides SBA 7(a) financing with particularly strong presence in NE, HI, SD. 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.
Get your certified valuation from Fair Market Value.