First American Bank of Larimore
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First American Bank of Larimore · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|
Geographic Distribution
SBA lending activity for First American Bank of Larimore by state
| State | Loans | Volume | Share |
|---|---|---|---|
| North Dakota (ND) | 1 | $20K | 100.0% |
Why Choose First American Bank of Larimore?
Based on SBA 7(a) lending track record from 1993-1993
- ✓Proven Track Record: 1 SBA loans approved, totaling $20K in financing
- ✓Industry Expertise: Specialized focus on
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 84 months
- ✓Loan Range: Loan sizes from $20K to $20K, with an average of $20K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in ND
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 of Larimore SBA lending
What types of businesses does First American Bank of Larimore typically finance?
First American Bank of Larimore specializes in SBA 7(a) lending to specific industries including . They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First American Bank of Larimore's typical SBA loan terms?
First American Bank of Larimore's SBA 7(a) loans typically feature an average interest rate of — and average term length of 84 months (approximately 7 years). Loan sizes range from $20K to $20K, with an average loan size of $20K.
Do I need a business valuation for a First American Bank of Larimore SBA loan?
Yes, First American Bank of Larimore 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 of Larimore compare to other SBA lenders?
First American Bank of Larimore has originated 1 SBA loans totaling $20K since 1993. 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 of Larimore lend in?
First American Bank of Larimore provides SBA 7(a) financing with particularly strong presence in ND. 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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