First American Bank Corporation
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First American Bank Corporation · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 621111 | Offices of Physicians (except Mental Health Specialists) | 1 | $173K | $173K | 33.3% |
| 541330 | Engineering Services | 1 | $350K | $350K | 33.3% |
Geographic Distribution
SBA lending activity for First American Bank Corporation by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Illinois (IL) | 2 | $593K | 66.7% |
| Iowa (IA) | 1 | $350K | 33.3% |
Why Choose First American Bank Corporation?
Based on SBA 7(a) lending track record from 2003-2004
- ✓Proven Track Record: 3 SBA loans approved, totaling $943K in financing
- ✓Industry Expertise: Specialized focus on Offices of Physicians (except Mental Health Specialists), Engineering Services
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 57 months
- ✓Loan Range: Loan sizes from $173K to $420K, with an average of $314K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in IL, IA
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 Corporation SBA lending
What types of businesses does First American Bank Corporation typically finance?
First American Bank Corporation specializes in SBA 7(a) lending to specific industries including offices of physicians (except mental health specialists), engineering services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First American Bank Corporation's typical SBA loan terms?
First American Bank Corporation's SBA 7(a) loans typically feature an average interest rate of — and average term length of 57 months (approximately 5 years). Loan sizes range from $173K to $420K, with an average loan size of $314K.
Do I need a business valuation for a First American Bank Corporation SBA loan?
Yes, First American Bank Corporation 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 Corporation compare to other SBA lenders?
First American Bank Corporation has originated 3 SBA loans totaling $943K since 2003. 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 Corporation lend in?
First American Bank Corporation provides SBA 7(a) financing with particularly strong presence in IL, IA. 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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