First Midwest Insurance Company
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First Midwest Insurance Company · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 532490 | Other Commercial and Industrial Machinery and Equipment Rental and Leasing | 1 | $89K | $89K | 100.0% |
Geographic Distribution
SBA lending activity for First Midwest Insurance Company by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Illinois (IL) | 1 | $89K | 100.0% |
Why Choose First Midwest Insurance Company?
Based on SBA 7(a) lending track record from 2002-2002
- ✓Proven Track Record: 1 SBA loans approved, totaling $89K in financing
- ✓Industry Expertise: Specialized focus on Other Commercial and Industrial Machinery and Equipment Rental and Leasing
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 117 months
- ✓Loan Range: Loan sizes from $89K to $89K, with an average of $89K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in IL
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 Midwest Insurance Company SBA lending
What types of businesses does First Midwest Insurance Company typically finance?
First Midwest Insurance Company specializes in SBA 7(a) lending to specific industries including other commercial and industrial machinery and equipment rental and leasing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First Midwest Insurance Company's typical SBA loan terms?
First Midwest Insurance Company's SBA 7(a) loans typically feature an average interest rate of — and average term length of 117 months (approximately 10 years). Loan sizes range from $89K to $89K, with an average loan size of $89K.
Do I need a business valuation for a First Midwest Insurance Company SBA loan?
Yes, First Midwest Insurance Company 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 Midwest Insurance Company compare to other SBA lenders?
First Midwest Insurance Company has originated 1 SBA loans totaling $89K since 2002. 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 Midwest Insurance Company lend in?
First Midwest Insurance Company provides SBA 7(a) financing with particularly strong presence in IL. 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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