First Carolina Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First Carolina Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 624410 | Child Care Services | 1 | $45K | $45K | 50.0% |
| 611691 | Exam Preparation and Tutoring | 1 | $200K | $200K | 50.0% |
Geographic Distribution
SBA lending activity for First Carolina Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| North Carolina (NC) | 2 | $245K | 100.0% |
Why Choose First Carolina Bank?
Based on SBA 7(a) lending track record from 2007-2007
- ✓Proven Track Record: 2 SBA loans approved, totaling $245K in financing
- ✓Industry Expertise: Specialized focus on Child Care Services, Exam Preparation and Tutoring
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 55 months
- ✓Loan Range: Loan sizes from $45K to $200K, with an average of $123K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in NC
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 Carolina Bank SBA lending
What types of businesses does First Carolina Bank typically finance?
First Carolina Bank specializes in SBA 7(a) lending to specific industries including child care services, exam preparation and tutoring. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First Carolina Bank's typical SBA loan terms?
First Carolina Bank's SBA 7(a) loans typically feature an average interest rate of — and average term length of 55 months (approximately 5 years). Loan sizes range from $45K to $200K, with an average loan size of $123K.
Do I need a business valuation for a First Carolina Bank SBA loan?
Yes, First Carolina 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 Carolina Bank compare to other SBA lenders?
First Carolina Bank has originated 2 SBA loans totaling $245K since 2007. 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 Carolina Bank lend in?
First Carolina Bank provides SBA 7(a) financing with particularly strong presence in NC. 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.