First Bank of Cleveland
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First Bank of Cleveland · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 561730 | Landscaping Services | 2 | $121K | $60K | 14.3% |
| 621210 | Offices of Dentists | 1 | $300K | $300K | 7.1% |
| 325510 | Paint and Coating Manufacturing | 1 | $95K | $95K | 7.1% |
| 213112 | Support Activities for Oil and Gas Operations | 1 | $60K | $60K | 7.1% |
| 811111 | General Automotive Repair | 1 | $36K | $36K | 7.1% |
Geographic Distribution
SBA lending activity for First Bank of Cleveland by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Oklahoma (OK) | 14 | $1.1M | 100.0% |
Why Choose First Bank of Cleveland?
Based on SBA 7(a) lending track record from 1993-1999
- ✓Proven Track Record: 14 SBA loans approved, totaling $1.1M in financing
- ✓Industry Expertise: Specialized focus on Landscaping Services, Offices of Dentists, Paint and Coating Manufacturing
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 69 months
- ✓Loan Range: Loan sizes from $21K to $300K, with an average of $75K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in OK
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 Bank of Cleveland SBA lending
What types of businesses does First Bank of Cleveland typically finance?
First Bank of Cleveland specializes in SBA 7(a) lending to specific industries including landscaping services, offices of dentists, paint and coating manufacturing, support activities for oil and gas operations. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First Bank of Cleveland's typical SBA loan terms?
First Bank of Cleveland's SBA 7(a) loans typically feature an average interest rate of — and average term length of 69 months (approximately 6 years). Loan sizes range from $21K to $300K, with an average loan size of $75K.
Do I need a business valuation for a First Bank of Cleveland SBA loan?
Yes, First Bank of Cleveland 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 Bank of Cleveland compare to other SBA lenders?
First Bank of Cleveland has originated 14 SBA loans totaling $1.1M 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 Bank of Cleveland lend in?
First Bank of Cleveland provides SBA 7(a) financing with particularly strong presence in OK. 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?
Certified valuations are often required for SBA loans over $250,000.
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