First FarmBank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First FarmBank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 311225 | Fats and Oils Refining and Blending | 2 | $1.1M | $538K | 100.0% |
Geographic Distribution
SBA lending activity for First FarmBank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Colorado (CO) | 2 | $1.1M | 100.0% |
Why Choose First FarmBank?
Based on SBA 7(a) lending track record from 2017-2017
- ✓Proven Track Record: 2 SBA loans approved, totaling $1.1M in financing
- ✓Industry Expertise: Specialized focus on Fats and Oils Refining and Blending
- ✓Competitive Terms: Average interest rate of 5.99% with flexible term lengths averaging 92 months
- ✓Loan Range: Loan sizes from $300K to $775K, with an average of $538K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in CO
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 FarmBank SBA lending
What types of businesses does First FarmBank typically finance?
First FarmBank specializes in SBA 7(a) lending to specific industries including fats and oils refining and blending. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First FarmBank's typical SBA loan terms?
First FarmBank's SBA 7(a) loans typically feature an average interest rate of 5.99% and average term length of 92 months (approximately 8 years). Loan sizes range from $300K to $775K, with an average loan size of $538K.
Do I need a business valuation for a First FarmBank SBA loan?
Yes, First FarmBank 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 FarmBank compare to other SBA lenders?
First FarmBank has originated 2 SBA loans totaling $1.1M since 2017. 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 FarmBank lend in?
First FarmBank provides SBA 7(a) financing with particularly strong presence in CO. 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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