First Farmers & Merchants State Bank of Grand Meadow
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First Farmers & Merchants State Bank of Grand Meadow · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 311611 | Animal (except Poultry) Slaughtering | 2 | $92K | $46K | 14.3% |
| 561730 | Landscaping Services | 1 | $23K | $23K | 7.1% |
| 441120 | Used Car Dealers | 1 | $27K | $27K | 7.1% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 1 | $40K | $40K | 7.1% |
| 112120 | Dairy Cattle and Milk Production | 1 | $3.9M | $3.9M | 7.1% |
| 445110 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 1 | $144K | $144K | 7.1% |
| 711212 | Racetracks | 1 | $1.8M | $1.8M | 7.1% |
Geographic Distribution
SBA lending activity for First Farmers & Merchants State Bank of Grand Meadow by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 14 | $6.5M | 100.0% |
Why Choose First Farmers & Merchants State Bank of Grand Meadow?
Based on SBA 7(a) lending track record from 1995-2017
- ✓Proven Track Record: 14 SBA loans approved, totaling $6.5M in financing
- ✓Industry Expertise: Specialized focus on Animal (except Poultry) Slaughtering, Landscaping Services, Used Car Dealers
- ✓Competitive Terms: Average interest rate of 5.55% with flexible term lengths averaging 112 months
- ✓Loan Range: Loan sizes from $23K to $3.9M, with an average of $464K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MN
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 Farmers & Merchants State Bank of Grand Meadow SBA lending
What types of businesses does First Farmers & Merchants State Bank of Grand Meadow typically finance?
First Farmers & Merchants State Bank of Grand Meadow specializes in SBA 7(a) lending to specific industries including animal (except poultry) slaughtering, landscaping services, used car dealers, automotive body, paint, and interior repair and maintenance. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First Farmers & Merchants State Bank of Grand Meadow's typical SBA loan terms?
First Farmers & Merchants State Bank of Grand Meadow's SBA 7(a) loans typically feature an average interest rate of 5.55% and average term length of 112 months (approximately 9 years). Loan sizes range from $23K to $3.9M, with an average loan size of $464K.
Do I need a business valuation for a First Farmers & Merchants State Bank of Grand Meadow SBA loan?
Yes, First Farmers & Merchants State Bank of Grand Meadow 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 Farmers & Merchants State Bank of Grand Meadow compare to other SBA lenders?
First Farmers & Merchants State Bank of Grand Meadow has originated 14 SBA loans totaling $6.5M since 1995. 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 Farmers & Merchants State Bank of Grand Meadow lend in?
First Farmers & Merchants State Bank of Grand Meadow provides SBA 7(a) financing with particularly strong presence in MN. 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.
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Certified valuations are often required for SBA loans over $250,000.
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