First Bank
SBA 7(a) Lending Profile · FY 2021 analysis
Industry Focus
Top industries served by First Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 280 | $361.5M | $1.3M | 4.7% |
| 561730 | Landscaping Services | 184 | $117.2M | $637K | 3.1% |
| 624410 | Child Day Care Services | 152 | $142.6M | $938K | 2.6% |
| 722513 | Limited-Service Restaurants | 144 | $92.0M | $639K | 2.4% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 136 | $88.8M | $653K | 2.3% |
| 238990 | All Other Specialty Trade Contractors | 136 | $90.8M | $668K | 2.3% |
| 236118 | Residential Remodelers | 128 | $96.6M | $754K | 2.2% |
| 524210 | Insurance Agencies and Brokerages | 128 | $105.1M | $821K | 2.2% |
| 713940 | Fitness and Recreational Sports Centers | 120 | $86.0M | $717K | 2.0% |
| 811111 | General Automotive Repair | 88 | $72.3M | $822K | 1.5% |
Geographic Distribution
SBA lending activity for First Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| North Carolina (NC) | 1,384 | $1.10B | 23.3% |
| California (CA) | 1,064 | $1.06B | 17.9% |
| New Jersey (NJ) | 552 | $469.4M | 9.3% |
| South Carolina (SC) | 304 | $310.4M | 5.1% |
| Florida (FL) | 528 | $288.4M | 8.9% |
| New York (NY) | 240 | $235.5M | 4.0% |
| Pennsylvania (PA) | 192 | $213.0M | 3.2% |
| Texas (TX) | 168 | $195.7M | 2.8% |
| Georgia (GA) | 200 | $193.1M | 3.4% |
| Arizona (AZ) | 112 | $115.9M | 1.9% |
| Colorado (CO) | 136 | $111.9M | 2.3% |
| Ohio (OH) | 80 | $96.0M | 1.3% |
| Washington (WA) | 88 | $85.9M | 1.5% |
| Nevada (NV) | 48 | $85.7M | 0.8% |
| Iowa (IA) | 168 | $83.0M | 2.8% |
| Wisconsin (WI) | 32 | $67.7M | 0.5% |
| Connecticut (CT) | 80 | $59.7M | 1.3% |
| Massachusetts (MA) | 64 | $49.0M | 1.1% |
| Tennessee (TN) | 40 | $46.8M | 0.7% |
| Oregon (OR) | 32 | $45.7M | 0.5% |
| Virginia (VA) | 104 | $41.1M | 1.7% |
| Illinois (IL) | 32 | $39.5M | 0.5% |
| Michigan (MI) | 40 | $39.2M | 0.7% |
| Utah (UT) | 40 | $35.4M | 0.7% |
| Maryland (MD) | 32 | $32.8M | 0.5% |
| Arkansas (AR) | 24 | $22.5M | 0.4% |
| New Hampshire (NH) | 8 | $21.4M | 0.1% |
| District of Columbia (DC) | 8 | $17.6M | 0.1% |
| Hawaii (HI) | 8 | $16.9M | 0.1% |
| Missouri (MO) | 16 | $15.1M | 0.3% |
| Alabama (AL) | 8 | $14.9M | 0.1% |
| Indiana (IN) | 16 | $14.1M | 0.3% |
| Minnesota (MN) | 8 | $12.8M | 0.1% |
| Louisiana (LA) | 24 | $12.2M | 0.4% |
| New Mexico (NM) | 8 | $9.5M | 0.1% |
| Maine (ME) | 8 | $8.3M | 0.1% |
| Kansas (KS) | 8 | $6.7M | 0.1% |
| Kentucky (KY) | 8 | $6.5M | 0.1% |
| Oklahoma (OK) | 16 | $6.1M | 0.3% |
| Vermont (VT) | 8 | $4.9M | 0.1% |
| Mississippi (MS) | 8 | $2.9M | 0.1% |
| Rhode Island (RI) | 8 | $1.8M | 0.1% |
Why Choose First Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 5,952 SBA loans approved, totaling $5.30B in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Landscaping Services, Child Day Care Services
- ✓Competitive Terms: Average interest rate of 7.74% with flexible term lengths averaging 166 months
- ✓Loan Range: Loan sizes from $25K to $5.0M, with an average of $890K
- ✓Nationwide Reach: Active lending in 42 states, with strong presence in NC, CA, NJ
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 SBA lending
What types of businesses does First Bank typically finance?
First Bank specializes in SBA 7(a) lending to specific industries including full-service restaurants, landscaping services, child day care services, limited-service restaurants. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First Bank's typical SBA loan terms?
First Bank's SBA 7(a) loans typically feature an average interest rate of 7.74% and average term length of 166 months (approximately 14 years). Loan sizes range from $25K to $5.0M, with an average loan size of $890K.
Do I need a business valuation for a First Bank SBA loan?
Yes, First Bank 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 compare to other SBA lenders?
First Bank has originated 5,952 SBA loans totaling $5.30B 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 lend in?
First Bank provides SBA 7(a) financing with particularly strong presence in NC, CA, NJ, FL, SC. 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?
Professional valuations are often required for SBA loans over $250,000.
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