First Palmetto Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First Palmetto Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811192 | Car Washes | 1 | $450K | $450K | 10.0% |
| 713940 | Fitness and Recreational Sports Centers | 1 | $40K | $40K | 10.0% |
| 621310 | Offices of Chiropractors | 1 | $28K | $28K | 10.0% |
Geographic Distribution
SBA lending activity for First Palmetto Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| South Carolina (SC) | 10 | $1.1M | 100.0% |
Why Choose First Palmetto Bank?
Based on SBA 7(a) lending track record from 1995-2000
- ✓Proven Track Record: 10 SBA loans approved, totaling $1.1M in financing
- ✓Industry Expertise: Specialized focus on Car Washes, Fitness and Recreational Sports Centers, Offices of Chiropractors
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 114 months
- ✓Loan Range: Loan sizes from $26K to $450K, with an average of $113K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in SC
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 Palmetto Bank SBA lending
What types of businesses does First Palmetto Bank typically finance?
First Palmetto Bank specializes in SBA 7(a) lending to specific industries including car washes, fitness and recreational sports centers, offices of chiropractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First Palmetto Bank's typical SBA loan terms?
First Palmetto Bank's SBA 7(a) loans typically feature an average interest rate of — and average term length of 114 months (approximately 10 years). Loan sizes range from $26K to $450K, with an average loan size of $113K.
Do I need a business valuation for a First Palmetto Bank SBA loan?
Yes, First Palmetto 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 Palmetto Bank compare to other SBA lenders?
First Palmetto Bank has originated 10 SBA loans totaling $1.1M since 1995. 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 Palmetto Bank lend in?
First Palmetto Bank provides SBA 7(a) financing with particularly strong presence in SC. 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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