Citizens and Farmers Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Citizens and Farmers Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 812112 | Beauty Salons | 3 | $140K | $47K | 2.8% |
| 713940 | Fitness and Recreational Sports Centers | 3 | $295K | $98K | 2.8% |
| 621210 | Offices of Dentists | 3 | $1.2M | $410K | 2.8% |
| 722410 | Drinking Places (Alcoholic Beverages) | 2 | $95K | $48K | 1.9% |
| 236118 | Residential Remodelers | 2 | $119K | $60K | 1.9% |
| 621310 | Offices of Chiropractors | 2 | $106K | $53K | 1.9% |
| 238210 | Electrical Contractors and Other Wiring Installation Contractors | 1 | $250K | $250K | 0.9% |
| 624410 | Child Care Services | 1 | $200K | $200K | 0.9% |
| 336999 | All Other Transportation Equipment Manufacturing | 1 | $75K | $75K | 0.9% |
| 531120 | Lessors of Nonresidential Buildings (except Miniwarehouses) | 1 | $320K | $320K | 0.9% |
Geographic Distribution
SBA lending activity for Citizens and Farmers Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Virginia (VA) | 105 | $13.7M | 99.1% |
| North Carolina (NC) | 1 | $180K | 0.9% |
Why Choose Citizens and Farmers Bank?
Based on SBA 7(a) lending track record from 1995-2015
- ✓Proven Track Record: 106 SBA loans approved, totaling $13.8M in financing
- ✓Industry Expertise: Specialized focus on Beauty Salons, Fitness and Recreational Sports Centers, Offices of Dentists
- ✓Competitive Terms: Average interest rate of 6.50% with flexible term lengths averaging 77 months
- ✓Loan Range: Loan sizes from $5K to $700K, with an average of $131K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in VA, NC
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 Citizens and Farmers Bank SBA lending
What types of businesses does Citizens and Farmers Bank typically finance?
Citizens and Farmers Bank specializes in SBA 7(a) lending to specific industries including beauty salons, fitness and recreational sports centers, offices of dentists, drinking places (alcoholic beverages). They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Citizens and Farmers Bank's typical SBA loan terms?
Citizens and Farmers Bank's SBA 7(a) loans typically feature an average interest rate of 6.50% and average term length of 77 months (approximately 6 years). Loan sizes range from $5K to $700K, with an average loan size of $131K.
Do I need a business valuation for a Citizens and Farmers Bank SBA loan?
Yes, Citizens and Farmers Bank 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 Citizens and Farmers Bank compare to other SBA lenders?
Citizens and Farmers Bank has originated 106 SBA loans totaling $13.8M since 1995. 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 Citizens and Farmers Bank lend in?
Citizens and Farmers Bank provides SBA 7(a) financing with particularly strong presence in VA, NC. 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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