Boone Bank and Trust Co
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Boone Bank and Trust Co · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 484121 | General Freight Trucking, Long-Distance, Truckload | 2 | $83K | $42K | 10.0% |
| 115112 | Soil Preparation, Planting, and Cultivating | 2 | $245K | $123K | 10.0% |
| 561740 | Carpet and Upholstery Cleaning Services | 2 | $129K | $65K | 10.0% |
| 324121 | Asphalt Paving Mixture and Block Manufacturing | 1 | $57K | $57K | 5.0% |
| 484110 | General Freight Trucking, Local | 1 | $50K | $50K | 5.0% |
| 336214 | Travel Trailer and Camper Manufacturing | 1 | $80K | $80K | 5.0% |
| 325612 | Polish and Other Sanitation Good Manufacturing | 1 | $50K | $50K | 5.0% |
| 238210 | Electrical Contractors and Other Wiring Installation Contractors | 1 | $602K | $602K | 5.0% |
| 562119 | Other Waste Collection | 1 | $550K | $550K | 5.0% |
Geographic Distribution
SBA lending activity for Boone Bank and Trust Co by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Iowa (IA) | 20 | $4.0M | 100.0% |
Why Choose Boone Bank and Trust Co?
Based on SBA 7(a) lending track record from 1996-2021
- ✓Proven Track Record: 20 SBA loans approved, totaling $4.0M in financing
- ✓Industry Expertise: Specialized focus on General Freight Trucking, Long-Distance, Truckload, Soil Preparation, Planting, and Cultivating, Carpet and Upholstery Cleaning Services
- ✓Competitive Terms: Average interest rate of 6.17% with flexible term lengths averaging 93 months
- ✓Loan Range: Loan sizes from $29K to $620K, with an average of $200K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in IA
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 Boone Bank and Trust Co SBA lending
What types of businesses does Boone Bank and Trust Co typically finance?
Boone Bank and Trust Co specializes in SBA 7(a) lending to specific industries including general freight trucking, long-distance, truckload, soil preparation, planting, and cultivating, carpet and upholstery cleaning services, asphalt paving mixture and block manufacturing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Boone Bank and Trust Co's typical SBA loan terms?
Boone Bank and Trust Co's SBA 7(a) loans typically feature an average interest rate of 6.17% and average term length of 93 months (approximately 8 years). Loan sizes range from $29K to $620K, with an average loan size of $200K.
Do I need a business valuation for a Boone Bank and Trust Co SBA loan?
Yes, Boone Bank and Trust Co 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 Boone Bank and Trust Co compare to other SBA lenders?
Boone Bank and Trust Co has originated 20 SBA loans totaling $4.0M since 1996. 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 Boone Bank and Trust Co lend in?
Boone Bank and Trust Co provides SBA 7(a) financing with particularly strong presence in IA. 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.
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Certified valuations are often required for SBA loans over $250,000.
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