First Federal Bank
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by First Federal Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722515 | Snack and Nonalcoholic Beverage Bars | 160 | $144.1M | $901K | 18.0% |
| 722513 | Limited-Service Restaurants | 48 | $31.0M | $646K | 5.4% |
| 722511 | Full-Service Restaurants | 40 | $20.5M | $512K | 4.5% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 32 | $13.5M | $422K | 3.6% |
| 713940 | Fitness and Recreational Sports Centers | 32 | $9.9M | $309K | 3.6% |
| 621330 | Offices of Mental Health Practitioners (except Physicians) | 24 | $13.8M | $575K | 2.7% |
| 621111 | Offices of Physicians (except Mental Health Specialists) | 24 | $3.5M | $147K | 2.7% |
| 541940 | Veterinary Services | 24 | $33.9M | $1.4M | 2.7% |
| 113310 | Logging | 16 | $5.6M | $350K | 1.8% |
| 621910 | Ambulance Services | 16 | $24.0M | $1.5M | 1.8% |
Geographic Distribution
SBA lending activity for First Federal Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Florida (FL) | 744 | $512.8M | 83.8% |
| South Carolina (SC) | 96 | $38.1M | 10.8% |
| Georgia (GA) | 40 | $25.9M | 4.5% |
| North Carolina (NC) | 8 | $6.4M | 0.9% |
Why Choose First Federal Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 888 SBA loans approved, totaling $583.3M in financing
- ✓Industry Expertise: Specialized focus on Snack and Nonalcoholic Beverage Bars, Limited-Service Restaurants, Full-Service Restaurants
- ✓Competitive Terms: Average interest rate of 8.19% with flexible term lengths averaging 192 months
- ✓Loan Range: Loan sizes from $42K to $2.5M, with an average of $657K
- ✓Nationwide Reach: Active lending in 4 states, with strong presence in FL, SC, GA
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 Federal Bank SBA lending
What types of businesses does First Federal Bank typically finance?
First Federal Bank specializes in SBA 7(a) lending to specific industries including snack and nonalcoholic beverage bars, limited-service restaurants, full-service restaurants, plumbing, heating, and air-conditioning contractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First Federal Bank's typical SBA loan terms?
First Federal Bank's SBA 7(a) loans typically feature an average interest rate of 8.19% and average term length of 192 months (approximately 16 years). Loan sizes range from $42K to $2.5M, with an average loan size of $657K.
Do I need a business valuation for a First Federal Bank SBA loan?
Yes, First Federal 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 Federal Bank compare to other SBA lenders?
First Federal Bank has originated 888 SBA loans totaling $583.3M 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 Federal Bank lend in?
First Federal Bank provides SBA 7(a) financing with particularly strong presence in FL, SC, GA, 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?
Professional valuations are often required for SBA loans over $250,000.
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