First Minnetonka City Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First Minnetonka City Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 311423 | Dried and Dehydrated Food Manufacturing | 1 | $75K | $75K | 50.0% |
Geographic Distribution
SBA lending activity for First Minnetonka City Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 2 | $140K | 100.0% |
Why Choose First Minnetonka City Bank?
Based on SBA 7(a) lending track record from 2002-2003
- ✓Proven Track Record: 2 SBA loans approved, totaling $140K in financing
- ✓Industry Expertise: Specialized focus on Dried and Dehydrated Food Manufacturing
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 46 months
- ✓Loan Range: Loan sizes from $65K to $75K, with an average of $70K
- ✓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 Minnetonka City Bank SBA lending
What types of businesses does First Minnetonka City Bank typically finance?
First Minnetonka City Bank specializes in SBA 7(a) lending to specific industries including dried and dehydrated food manufacturing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First Minnetonka City Bank's typical SBA loan terms?
First Minnetonka City Bank's SBA 7(a) loans typically feature an average interest rate of — and average term length of 46 months (approximately 4 years). Loan sizes range from $65K to $75K, with an average loan size of $70K.
Do I need a business valuation for a First Minnetonka City Bank SBA loan?
Yes, First Minnetonka City 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 Minnetonka City Bank compare to other SBA lenders?
First Minnetonka City Bank has originated 2 SBA loans totaling $140K 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 Minnetonka City Bank lend in?
First Minnetonka City Bank 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.
Explore Industry Reports →Need a Business Valuation?
Certified valuations are often required for SBA loans over $250,000.
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