First Bank of Utica
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First Bank of Utica · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 115112 | Soil Preparation, Planting, and Cultivating | 1 | $150K | $150K | 50.0% |
Geographic Distribution
SBA lending activity for First Bank of Utica by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Nebraska (NE) | 2 | $175K | 100.0% |
Why Choose First Bank of Utica?
Based on SBA 7(a) lending track record from 1991-2015
- ✓Proven Track Record: 2 SBA loans approved, totaling $175K in financing
- ✓Industry Expertise: Specialized focus on Soil Preparation, Planting, and Cultivating
- ✓Competitive Terms: Average interest rate of 5.25% with flexible term lengths averaging 150 months
- ✓Loan Range: Loan sizes from $25K to $150K, with an average of $88K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in NE
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 Utica SBA lending
What types of businesses does First Bank of Utica typically finance?
First Bank of Utica specializes in SBA 7(a) lending to specific industries including soil preparation, planting, and cultivating. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First Bank of Utica's typical SBA loan terms?
First Bank of Utica's SBA 7(a) loans typically feature an average interest rate of 5.25% and average term length of 150 months (approximately 13 years). Loan sizes range from $25K to $150K, with an average loan size of $88K.
Do I need a business valuation for a First Bank of Utica SBA loan?
Yes, First Bank of Utica 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 Utica compare to other SBA lenders?
First Bank of Utica has originated 2 SBA loans totaling $175K since 1991. 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 Utica lend in?
First Bank of Utica provides SBA 7(a) financing with particularly strong presence in NE. 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.
Get your certified valuation from Fair Market Value.