First Option Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First Option Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 423120 | Motor Vehicle Supplies and New Parts Merchant Wholesalers | 8 | $3.0M | $374K | 50.0% |
| 541511 | Custom Computer Programming Services | 8 | $2.0M | $250K | 50.0% |
Geographic Distribution
SBA lending activity for First Option Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Kansas (KS) | 16 | $5.0M | 100.0% |
Why Choose First Option Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 16 SBA loans approved, totaling $5.0M in financing
- ✓Industry Expertise: Specialized focus on Motor Vehicle Supplies and New Parts Merchant Wholesalers, Custom Computer Programming Services
- ✓Competitive Terms: Average interest rate of 5.00% with flexible term lengths averaging 60 months
- ✓Loan Range: Loan sizes from $250K to $374K, with an average of $312K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in KS
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 Option Bank SBA lending
What types of businesses does First Option Bank typically finance?
First Option Bank specializes in SBA 7(a) lending to specific industries including motor vehicle supplies and new parts merchant wholesalers, custom computer programming services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First Option Bank's typical SBA loan terms?
First Option Bank's SBA 7(a) loans typically feature an average interest rate of 5.00% and average term length of 60 months (approximately 5 years). Loan sizes range from $250K to $374K, with an average loan size of $312K.
Do I need a business valuation for a First Option Bank SBA loan?
Yes, First Option 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 Option Bank compare to other SBA lenders?
First Option Bank has originated 16 SBA loans totaling $5.0M 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 Option Bank lend in?
First Option Bank provides SBA 7(a) financing with particularly strong presence in KS. 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.
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