Farmers State Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Farmers State Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 26 | $6.6M | $253K | 3.0% |
| 112320 | Broilers and Other Meat Type Chicken Production | 22 | $17.1M | $777K | 2.5% |
| 811111 | General Automotive Repair | 20 | $3.2M | $162K | 2.3% |
| 812112 | Beauty Salons | 20 | $2.1M | $103K | 2.3% |
| 621310 | Offices of Chiropractors | 19 | $1.7M | $91K | 2.2% |
| 111998 | All Other Miscellaneous Crop Farming | 16 | $1.6M | $98K | 1.8% |
| 624410 | Child Care Services | 16 | $1.4M | $87K | 1.8% |
| 713940 | Fitness and Recreational Sports Centers | 14 | $2.4M | $169K | 1.6% |
| 484110 | General Freight Trucking, Local | 13 | $1.4M | $110K | 1.5% |
| 722513 | Limited-Service Restaurants | 12 | $3.0M | $248K | 1.4% |
Geographic Distribution
SBA lending activity for Farmers State Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Iowa (IA) | 615 | $112.2M | 69.8% |
| Montana (MT) | 153 | $28.6M | 17.4% |
| Texas (TX) | 49 | $27.0M | 5.6% |
| Indiana (IN) | 12 | $3.5M | 1.4% |
| Georgia (GA) | 3 | $2.4M | 0.3% |
| South Dakota (SD) | 10 | $2.4M | 1.1% |
| Missouri (MO) | 9 | $1.5M | 1.0% |
| Washington (WA) | 2 | $1.3M | 0.2% |
| Kansas (KS) | 8 | $1.0M | 0.9% |
| Michigan (MI) | 2 | $940K | 0.2% |
| Oklahoma (OK) | 2 | $460K | 0.2% |
| Nebraska (NE) | 3 | $448K | 0.3% |
| Illinois (IL) | 4 | $333K | 0.5% |
| Wyoming (WY) | 2 | $272K | 0.2% |
| Minnesota (MN) | 1 | $125K | 0.1% |
| Ohio (OH) | 3 | $101K | 0.3% |
| Kentucky (KY) | 2 | $89K | 0.2% |
| Rhode Island (RI) | 1 | $10K | 0.1% |
Why Choose Farmers State Bank?
Based on SBA 7(a) lending track record from 1991-2025
- ✓Proven Track Record: 881 SBA loans approved, totaling $182.8M in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Broilers and Other Meat Type Chicken Production, General Automotive Repair
- ✓Competitive Terms: Average interest rate of 6.20% with flexible term lengths averaging 103 months
- ✓Loan Range: Loan sizes from $3K to $3.7M, with an average of $207K
- ✓Nationwide Reach: Active lending in 18 states, with strong presence in IA, MT, TX
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 State Bank SBA lending
What types of businesses does Farmers State Bank typically finance?
Farmers State Bank specializes in SBA 7(a) lending to specific industries including full-service restaurants, broilers and other meat type chicken production, general automotive repair, beauty salons. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Farmers State Bank's typical SBA loan terms?
Farmers State Bank's SBA 7(a) loans typically feature an average interest rate of 6.20% and average term length of 103 months (approximately 9 years). Loan sizes range from $3K to $3.7M, with an average loan size of $207K.
Do I need a business valuation for a Farmers State Bank SBA loan?
Yes, Farmers State 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 Farmers State Bank compare to other SBA lenders?
Farmers State Bank has originated 881 SBA loans totaling $182.8M since 1991. 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 State Bank lend in?
Farmers State Bank provides SBA 7(a) financing with particularly strong presence in IA, MT, TX, IN, 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?
Certified valuations are often required for SBA loans over $250,000.
Get your certified valuation from Fair Market Value.