First National Bank, Cortez
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First National Bank, Cortez · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 624410 | Child Care Services | 1 | $212K | $212K | 5.3% |
| 722511 | Full-Service Restaurants | 1 | $700K | $700K | 5.3% |
| 611620 | Sports and Recreation Instruction | 1 | $100K | $100K | 5.3% |
| 541512 | Computer Systems Design Services | 1 | $227K | $227K | 5.3% |
| 811111 | General Automotive Repair | 1 | $12K | $12K | 5.3% |
Geographic Distribution
SBA lending activity for First National Bank, Cortez by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Colorado (CO) | 19 | $3.4M | 100.0% |
Why Choose First National Bank, Cortez?
Based on SBA 7(a) lending track record from 1993-2024
- ✓Proven Track Record: 19 SBA loans approved, totaling $3.4M in financing
- ✓Industry Expertise: Specialized focus on Child Care Services, Full-Service Restaurants, Sports and Recreation Instruction
- ✓Competitive Terms: Average interest rate of 6.75% with flexible term lengths averaging 140 months
- ✓Loan Range: Loan sizes from $12K to $925K, with an average of $179K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in CO
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, Cortez SBA lending
What types of businesses does First National Bank, Cortez typically finance?
First National Bank, Cortez specializes in SBA 7(a) lending to specific industries including child care services, full-service restaurants, sports and recreation instruction, computer systems design services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First National Bank, Cortez's typical SBA loan terms?
First National Bank, Cortez's SBA 7(a) loans typically feature an average interest rate of 6.75% and average term length of 140 months (approximately 12 years). Loan sizes range from $12K to $925K, with an average loan size of $179K.
Do I need a business valuation for a First National Bank, Cortez SBA loan?
Yes, First National Bank, Cortez 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, Cortez compare to other SBA lenders?
First National Bank, Cortez has originated 19 SBA loans totaling $3.4M since 1993. 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, Cortez lend in?
First National Bank, Cortez provides SBA 7(a) financing with particularly strong presence in CO. 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?
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