First National Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First National Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 236115 | New Single-Family Housing Construction (except Operative Builders) | 56 | $7.6M | $137K | 6.0% |
| 113310 | Logging | 40 | $6.8M | $169K | 4.3% |
| 811111 | General Automotive Repair | 40 | $5.6M | $140K | 4.3% |
| 447110 | Gasoline Stations with Convenience Stores | 40 | $5.2M | $129K | 4.3% |
| 457110 | Other | 32 | $6.5M | $203K | 3.4% |
| 722513 | Limited-Service Restaurants | 32 | $21.3M | $664K | 3.4% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 24 | $3.2M | $135K | 2.6% |
| 722511 | Full-Service Restaurants | 24 | $7.6M | $318K | 2.6% |
| 453998 | All Other Miscellaneous Store Retailers (except Tobacco Stores) | 24 | $3.0M | $127K | 2.6% |
| 424910 | Farm Supplies Merchant Wholesalers | 24 | $6.0M | $250K | 2.6% |
Geographic Distribution
SBA lending activity for First National Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Colorado (CO) | 88 | $96.3M | 9.4% |
| South Dakota (SD) | 336 | $76.9M | 35.9% |
| Iowa (IA) | 112 | $34.6M | 12.0% |
| Minnesota (MN) | 192 | $33.6M | 20.5% |
| Texas (TX) | 16 | $19.0M | 1.7% |
| New Mexico (NM) | 72 | $14.6M | 7.7% |
| Virginia (VA) | 40 | $13.4M | 4.3% |
| Indiana (IN) | 48 | $5.5M | 5.1% |
| Maine (ME) | 16 | $3.2M | 1.7% |
| Illinois (IL) | 16 | $760K | 1.7% |
Why Choose First National Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 936 SBA loans approved, totaling $297.8M in financing
- ✓Industry Expertise: Specialized focus on New Single-Family Housing Construction (except Operative Builders), Logging, General Automotive Repair
- ✓Competitive Terms: Average interest rate of 5.93% with flexible term lengths averaging 124 months
- ✓Loan Range: Loan sizes from $9K to $4.0M, with an average of $318K
- ✓Nationwide Reach: Active lending in 10 states, with strong presence in SD, MN, IA
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 National Bank SBA lending
What types of businesses does First National Bank typically finance?
First National Bank specializes in SBA 7(a) lending to specific industries including new single-family housing construction (except operative builders), logging, general automotive repair, gasoline stations with convenience stores. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First National Bank's typical SBA loan terms?
First National Bank's SBA 7(a) loans typically feature an average interest rate of 5.93% and average term length of 124 months (approximately 10 years). Loan sizes range from $9K to $4.0M, with an average loan size of $318K.
Do I need a business valuation for a First National Bank SBA loan?
Yes, First National 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 National Bank compare to other SBA lenders?
First National Bank has originated 936 SBA loans totaling $297.8M 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 National Bank lend in?
First National Bank provides SBA 7(a) financing with particularly strong presence in SD, MN, IA, CO, NM. 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.
Get your certified valuation from Fair Market Value.