Farmers State Bank of Canton
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Farmers State Bank of Canton · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 332813 | Electroplating, Plating, Polishing, Anodizing, and Coloring | 2 | $53K | $27K | 16.7% |
| 441110 | New Car Dealers | 1 | $550K | $550K | 8.3% |
| 541921 | Photography Studios, Portrait | 1 | $44K | $44K | 8.3% |
Geographic Distribution
SBA lending activity for Farmers State Bank of Canton by state
| State | Loans | Volume | Share |
|---|---|---|---|
| South Dakota (SD) | 12 | $1.8M | 100.0% |
Why Choose Farmers State Bank of Canton?
Based on SBA 7(a) lending track record from 1992-1998
- ✓Proven Track Record: 12 SBA loans approved, totaling $1.8M in financing
- ✓Industry Expertise: Specialized focus on Electroplating, Plating, Polishing, Anodizing, and Coloring, New Car Dealers, Photography Studios, Portrait
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 153 months
- ✓Loan Range: Loan sizes from $15K to $800K, with an average of $149K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in SD
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 Canton SBA lending
What types of businesses does Farmers State Bank of Canton typically finance?
Farmers State Bank of Canton specializes in SBA 7(a) lending to specific industries including electroplating, plating, polishing, anodizing, and coloring, new car dealers, photography studios, portrait. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Farmers State Bank of Canton's typical SBA loan terms?
Farmers State Bank of Canton's SBA 7(a) loans typically feature an average interest rate of — and average term length of 153 months (approximately 13 years). Loan sizes range from $15K to $800K, with an average loan size of $149K.
Do I need a business valuation for a Farmers State Bank of Canton SBA loan?
Yes, Farmers State Bank of Canton 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 Canton compare to other SBA lenders?
Farmers State Bank of Canton has originated 12 SBA loans totaling $1.8M 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 State Bank of Canton lend in?
Farmers State Bank of Canton provides SBA 7(a) financing with particularly strong presence 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?
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