Farmers & Merchants State Bank of New York Mills, Incorporated
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Farmers & Merchants State Bank of New York Mills, Incorporated · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811111 | General Automotive Repair | 3 | $350K | $117K | 17.6% |
| 441222 | Boat Dealers | 3 | $1.3M | $418K | 17.6% |
| 812112 | Beauty Salons | 1 | $130K | $130K | 5.9% |
| 493110 | General Warehousing and Storage | 1 | $100K | $100K | 5.9% |
| 811192 | Car Washes | 1 | $61K | $61K | 5.9% |
| 441330 | Automotive Parts and Accessories Retailers | 1 | $75K | $75K | 5.9% |
| 531312 | Nonresidential Property Managers | 1 | $115K | $115K | 5.9% |
| 314910 | Textile Bag and Canvas Mills | 1 | $125K | $125K | 5.9% |
Geographic Distribution
SBA lending activity for Farmers & Merchants State Bank of New York Mills, Incorporated by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 17 | $3.7M | 100.0% |
Why Choose Farmers & Merchants State Bank of New York Mills, Incorporated?
Based on SBA 7(a) lending track record from 1992-2025
- ✓Proven Track Record: 17 SBA loans approved, totaling $3.7M in financing
- ✓Industry Expertise: Specialized focus on General Automotive Repair, Boat Dealers, Beauty Salons
- ✓Competitive Terms: Average interest rate of 6.56% with flexible term lengths averaging 122 months
- ✓Loan Range: Loan sizes from $60K to $750K, with an average of $220K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MN
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 Farmers & Merchants State Bank of New York Mills, Incorporated SBA lending
What types of businesses does Farmers & Merchants State Bank of New York Mills, Incorporated typically finance?
Farmers & Merchants State Bank of New York Mills, Incorporated specializes in SBA 7(a) lending to specific industries including general automotive repair, boat dealers, beauty salons, general warehousing and storage. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Farmers & Merchants State Bank of New York Mills, Incorporated's typical SBA loan terms?
Farmers & Merchants State Bank of New York Mills, Incorporated's SBA 7(a) loans typically feature an average interest rate of 6.56% and average term length of 122 months (approximately 10 years). Loan sizes range from $60K to $750K, with an average loan size of $220K.
Do I need a business valuation for a Farmers & Merchants State Bank of New York Mills, Incorporated SBA loan?
Yes, Farmers & Merchants State Bank of New York Mills, Incorporated 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 Farmers & Merchants State Bank of New York Mills, Incorporated compare to other SBA lenders?
Farmers & Merchants State Bank of New York Mills, Incorporated has originated 17 SBA loans totaling $3.7M since 1992. 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 Farmers & Merchants State Bank of New York Mills, Incorporated lend in?
Farmers & Merchants State Bank of New York Mills, Incorporated provides SBA 7(a) financing with particularly strong presence in MN. 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.
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Certified valuations are often required for SBA loans over $250,000.
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