First American Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First American Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 424410 | General Line Grocery Merchant Wholesalers | 56 | $58.4M | $1.0M | 3.1% |
| 238330 | Flooring Contractors | 48 | $25.2M | $526K | 2.6% |
| 238210 | Electrical Contractors | 48 | $19.6M | $408K | 2.6% |
| 237310 | Highway, Street, and Bridge Construction | 48 | $30.4M | $634K | 2.6% |
| 339950 | Sign Manufacturing | 48 | $41.5M | $864K | 2.6% |
| 236118 | Residential Remodelers | 40 | $69.7M | $1.7M | 2.2% |
| 621111 | Offices of Physicians (except Mental Health Specialists) | 40 | $6.0M | $150K | 2.2% |
| 423810 | Construction and Mining (except Oil Well) Machinery and Equipment Merc | 40 | $29.4M | $736K | 2.2% |
| 423920 | Toy and Hobby Goods and Supplies Merchant Wholesalers | 40 | $31.2M | $780K | 2.2% |
| 333249 | Other Industrial Machinery Manufacturing | 32 | $14.2M | $444K | 1.8% |
Geographic Distribution
SBA lending activity for First American Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Illinois (IL) | 944 | $805.1M | 51.8% |
| Florida (FL) | 320 | $206.0M | 17.5% |
| Wisconsin (WI) | 208 | $155.3M | 11.4% |
| New Mexico (NM) | 224 | $86.6M | 12.3% |
| New York (NY) | 24 | $50.9M | 1.3% |
| Michigan (MI) | 8 | $40.0M | 0.4% |
| Texas (TX) | 40 | $36.6M | 2.2% |
| Missouri (MO) | 24 | $22.9M | 1.3% |
| Ohio (OH) | 8 | $15.2M | 0.4% |
| Indiana (IN) | 16 | $13.4M | 0.9% |
| Arizona (AZ) | 8 | $4.0M | 0.4% |
Why Choose First American Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 1,824 SBA loans approved, totaling $1.44B in financing
- ✓Industry Expertise: Specialized focus on General Line Grocery Merchant Wholesalers, Flooring Contractors, Electrical Contractors
- ✓Competitive Terms: Average interest rate of 6.56% with flexible term lengths averaging 102 months
- ✓Loan Range: Loan sizes from $25K to $5.0M, with an average of $787K
- ✓Nationwide Reach: Active lending in 11 states, with strong presence in IL, FL, NM
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 First American Bank SBA lending
What types of businesses does First American Bank typically finance?
First American Bank specializes in SBA 7(a) lending to specific industries including general line grocery merchant wholesalers, flooring contractors, electrical contractors, highway, street, and bridge construction. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First American Bank's typical SBA loan terms?
First American Bank's SBA 7(a) loans typically feature an average interest rate of 6.56% and average term length of 102 months (approximately 9 years). Loan sizes range from $25K to $5.0M, with an average loan size of $787K.
Do I need a business valuation for a First American Bank SBA loan?
Yes, First American 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 First American Bank compare to other SBA lenders?
First American Bank has originated 1,824 SBA loans totaling $1.44B 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 First American Bank lend in?
First American Bank provides SBA 7(a) financing with particularly strong presence in IL, FL, NM, WI, TX. 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?
Professional valuations are often required for SBA loans over $250,000.
Get your certified valuation from Fair Market Value.