Farmers State Bank of Alto Pass, Illinois
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by Farmers State Bank of Alto Pass, Illinois
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 721110 | Hotels (except Casino Hotels) and Motels | 344 | $1.06B | $3.1M | 59.7% |
| 541940 | Veterinary Services | 96 | $49.5M | $516K | 16.7% |
| 238210 | Electrical Contractors | 24 | $22.8M | $950K | 4.2% |
| 722511 | Full-Service Restaurants | 16 | $44.8M | $2.8M | 2.8% |
| 447110 | Gasoline Stations with Convenience Stores | 16 | $14.8M | $925K | 2.8% |
| 722513 | Limited-Service Restaurants | 8 | $8.4M | $1.1M | 1.4% |
| 812910 | Pet Care (except Veterinary) Services | 8 | $1.0M | $125K | 1.4% |
| 713120 | Amusement Arcades | 8 | $2.4M | $300K | 1.4% |
| 541990 | All Other Professional, Scientific, and Technical Services | 8 | $29.1M | $3.6M | 1.4% |
| 453998 | All Other Miscellaneous Store Retailers (except Tobacco Stores) | 8 | $2.5M | $312K | 1.4% |
Geographic Distribution
SBA lending activity for Farmers State Bank of Alto Pass, Illinois by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Tennessee (TN) | 80 | $162.4M | 13.9% |
| Texas (TX) | 64 | $142.2M | 11.1% |
| Indiana (IN) | 72 | $138.6M | 12.5% |
| Ohio (OH) | 32 | $137.4M | 5.6% |
| Illinois (IL) | 96 | $134.7M | 16.7% |
| Georgia (GA) | 32 | $106.3M | 5.6% |
| Louisiana (LA) | 16 | $50.6M | 2.8% |
| Virginia (VA) | 16 | $49.4M | 2.8% |
| Mississippi (MS) | 8 | $40.0M | 1.4% |
| Florida (FL) | 8 | $40.0M | 1.4% |
| Pennsylvania (PA) | 8 | $40.0M | 1.4% |
| Kentucky (KY) | 24 | $34.0M | 4.2% |
| Michigan (MI) | 24 | $33.1M | 4.2% |
| Colorado (CO) | 8 | $30.1M | 1.4% |
| South Carolina (SC) | 8 | $29.1M | 1.4% |
| Missouri (MO) | 8 | $26.6M | 1.4% |
| California (CA) | 8 | $23.0M | 1.4% |
| Alabama (AL) | 16 | $20.8M | 2.8% |
| Idaho (ID) | 8 | $17.6M | 1.4% |
| South Dakota (SD) | 8 | $17.6M | 1.4% |
| Arizona (AZ) | 16 | $12.4M | 2.8% |
| New York (NY) | 8 | $8.8M | 1.4% |
| Wisconsin (WI) | 8 | $200K | 1.4% |
Why Choose Farmers State Bank of Alto Pass, Illinois?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 576 SBA loans approved, totaling $1.29B in financing
- ✓Industry Expertise: Specialized focus on Hotels (except Casino Hotels) and Motels, Veterinary Services, Electrical Contractors
- ✓Competitive Terms: Average interest rate of 5.78% with flexible term lengths averaging 242 months
- ✓Loan Range: Loan sizes from $25K to $5.0M, with an average of $2.2M
- ✓Nationwide Reach: Active lending in 23 states, with strong presence in IL, TN, IN
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 of Alto Pass, Illinois SBA lending
What types of businesses does Farmers State Bank of Alto Pass, Illinois typically finance?
Farmers State Bank of Alto Pass, Illinois specializes in SBA 7(a) lending to specific industries including hotels (except casino hotels) and motels, veterinary services, electrical contractors, full-service restaurants. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Farmers State Bank of Alto Pass, Illinois's typical SBA loan terms?
Farmers State Bank of Alto Pass, Illinois's SBA 7(a) loans typically feature an average interest rate of 5.78% and average term length of 242 months (approximately 20 years). Loan sizes range from $25K to $5.0M, with an average loan size of $2.2M.
Do I need a business valuation for a Farmers State Bank of Alto Pass, Illinois SBA loan?
Yes, Farmers State Bank of Alto Pass, Illinois 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 of Alto Pass, Illinois compare to other SBA lenders?
Farmers State Bank of Alto Pass, Illinois has originated 576 SBA loans totaling $1.29B 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 Farmers State Bank of Alto Pass, Illinois lend in?
Farmers State Bank of Alto Pass, Illinois provides SBA 7(a) financing with particularly strong presence in IL, TN, IN, TX, GA. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
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