First General Bank
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by First General Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 721110 | Hotels (except Casino Hotels) and Motels | 160 | $635.2M | $4.0M | 31.3% |
| 423120 | Motor Vehicle Supplies and New Parts Merchant Wholesalers | 32 | $29.4M | $918K | 6.3% |
| 621610 | Home Health Care Services | 24 | $33.3M | $1.4M | 4.7% |
| 238290 | Other Building Equipment Contractors | 16 | $8.8M | $548K | 3.1% |
| 531120 | Lessors of Nonresidential Buildings (except Miniwarehouses) | 16 | $43.2M | $2.7M | 3.1% |
| 424120 | Stationery and Office Supplies Merchant Wholesalers | 16 | $34.6M | $2.2M | 3.1% |
| 722513 | Limited-Service Restaurants | 16 | $12.0M | $752K | 3.1% |
| 326111 | Unsupported Plastics Bag Manufacturing | 16 | $4.0M | $250K | 3.1% |
| 425120 | Wholesale Trade Agents and Brokers | 16 | $26.9M | $1.7M | 3.1% |
| 488510 | Freight Transportation Arrangement | 8 | $7.2M | $900K | 1.6% |
Geographic Distribution
SBA lending activity for First General Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| California (CA) | 472 | $976.9M | 92.2% |
| Washington (WA) | 16 | $66.4M | 3.1% |
| Georgia (GA) | 8 | $14.0M | 1.6% |
| New Mexico (NM) | 8 | $11.5M | 1.6% |
| Nevada (NV) | 8 | $9.4M | 1.6% |
Why Choose First General Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 512 SBA loans approved, totaling $1.08B in financing
- ✓Industry Expertise: Specialized focus on Hotels (except Casino Hotels) and Motels, Motor Vehicle Supplies and New Parts Merchant Wholesalers, Home Health Care Services
- ✓Competitive Terms: Average interest rate of 5.89% with flexible term lengths averaging 256 months
- ✓Loan Range: Loan sizes from $50K to $5.0M, with an average of $2.1M
- ✓Nationwide Reach: Active lending in 5 states, with strong presence in CA, WA, NV
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 General Bank SBA lending
What types of businesses does First General Bank typically finance?
First General Bank specializes in SBA 7(a) lending to specific industries including hotels (except casino hotels) and motels, motor vehicle supplies and new parts merchant wholesalers, home health care services, other building equipment contractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First General Bank's typical SBA loan terms?
First General Bank's SBA 7(a) loans typically feature an average interest rate of 5.89% and average term length of 256 months (approximately 21 years). Loan sizes range from $50K to $5.0M, with an average loan size of $2.1M.
Do I need a business valuation for a First General Bank SBA loan?
Yes, First General 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 General Bank compare to other SBA lenders?
First General Bank has originated 512 SBA loans totaling $1.08B 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 General Bank lend in?
First General Bank provides SBA 7(a) financing with particularly strong presence in CA, WA, NV, NM, GA. 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.
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