First Bank & Trust
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by First Bank & Trust
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 713940 | Fitness and Recreational Sports Centers | 64 | $25.9M | $405K | 4.4% |
| 722513 | Limited-Service Restaurants | 64 | $46.6M | $728K | 4.4% |
| 722515 | Snack and Nonalcoholic Beverage Bars | 56 | $43.9M | $783K | 3.8% |
| 812310 | Coin-Operated Laundries and Drycleaners | 56 | $45.0M | $804K | 3.8% |
| 621610 | Home Health Care Services | 48 | $19.7M | $409K | 3.3% |
| 722511 | Full-Service Restaurants | 48 | $18.9M | $394K | 3.3% |
| 812990 | All Other Personal Services | 48 | $19.0M | $396K | 3.3% |
| 811111 | General Automotive Repair | 40 | $29.7M | $742K | 2.7% |
| 458110 | Other | 32 | $5.2M | $161K | 2.2% |
| 321918 | Other Millwork (including Flooring) | 24 | $11.9M | $497K | 1.6% |
Geographic Distribution
SBA lending activity for First Bank & Trust by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 832 | $683.1M | 56.8% |
| South Dakota (SD) | 520 | $349.3M | 35.5% |
| Iowa (IA) | 48 | $52.9M | 3.3% |
| Nebraska (NE) | 40 | $20.7M | 2.7% |
| Wisconsin (WI) | 24 | $11.3M | 1.6% |
Why Choose First Bank & Trust?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 1,464 SBA loans approved, totaling $1.12B in financing
- ✓Industry Expertise: Specialized focus on Fitness and Recreational Sports Centers, Limited-Service Restaurants, Snack and Nonalcoholic Beverage Bars
- ✓Competitive Terms: Average interest rate of 8.68% with flexible term lengths averaging 174 months
- ✓Loan Range: Loan sizes from $15K to $5.0M, with an average of $763K
- ✓Nationwide Reach: Active lending in 5 states, with strong presence in MN, SD, 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 Bank & Trust SBA lending
What types of businesses does First Bank & Trust typically finance?
First Bank & Trust specializes in SBA 7(a) lending to specific industries including fitness and recreational sports centers, limited-service restaurants, snack and nonalcoholic beverage bars, coin-operated laundries and drycleaners. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First Bank & Trust's typical SBA loan terms?
First Bank & Trust's SBA 7(a) loans typically feature an average interest rate of 8.68% and average term length of 174 months (approximately 15 years). Loan sizes range from $15K to $5.0M, with an average loan size of $763K.
Do I need a business valuation for a First Bank & Trust SBA loan?
Yes, First Bank & Trust 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 & Trust compare to other SBA lenders?
First Bank & Trust has originated 1,464 SBA loans totaling $1.12B 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 Bank & Trust lend in?
First Bank & Trust provides SBA 7(a) financing with particularly strong presence in MN, SD, IA, NE, WI. 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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Explore Industry Reports →Need a Business Valuation?
Professional valuations are often required for SBA loans over $250,000.
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