First National Bank of America
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First National Bank of America · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 541110 | Offices of Lawyers | 2 | $95K | $48K | 12.5% |
| 561439 | Other Business Service Centers (including Copy Shops) | 2 | $150K | $75K | 12.5% |
| 312120 | Breweries | 1 | $100K | $100K | 6.3% |
| 541990 | All Other Professional, Scientific, and Technical Services | 1 | $111K | $111K | 6.3% |
| 722511 | Full-Service Restaurants | 1 | $378K | $378K | 6.3% |
| 621610 | Home Health Care Services | 1 | $125K | $125K | 6.3% |
| 621310 | Offices of Chiropractors | 1 | $50K | $50K | 6.3% |
| 561730 | Landscaping Services | 1 | $300K | $300K | 6.3% |
| 811111 | General Automotive Repair | 1 | $90K | $90K | 6.3% |
| 722515 | Snack and Nonalcoholic Beverage Bars | 1 | $150K | $150K | 6.3% |
Geographic Distribution
SBA lending activity for First National Bank of America by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Michigan (MI) | 16 | $2.9M | 100.0% |
Why Choose First National Bank of America?
Based on SBA 7(a) lending track record from 2005-2016
- ✓Proven Track Record: 16 SBA loans approved, totaling $2.9M in financing
- ✓Industry Expertise: Specialized focus on Offices of Lawyers, Other Business Service Centers (including Copy Shops), Breweries
- ✓Competitive Terms: Average interest rate of 6.13% with flexible term lengths averaging 106 months
- ✓Loan Range: Loan sizes from $45K to $700K, with an average of $180K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MI
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 of America SBA lending
What types of businesses does First National Bank of America typically finance?
First National Bank of America specializes in SBA 7(a) lending to specific industries including offices of lawyers, other business service centers (including copy shops), breweries, all other professional, scientific, and technical services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First National Bank of America's typical SBA loan terms?
First National Bank of America's SBA 7(a) loans typically feature an average interest rate of 6.13% and average term length of 106 months (approximately 9 years). Loan sizes range from $45K to $700K, with an average loan size of $180K.
Do I need a business valuation for a First National Bank of America SBA loan?
Yes, First National Bank of America 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 of America compare to other SBA lenders?
First National Bank of America has originated 16 SBA loans totaling $2.9M since 2005. 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 of America lend in?
First National Bank of America provides SBA 7(a) financing with particularly strong presence in MI. 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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