First PREMIER Bank
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by First PREMIER Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 624410 | Child Day Care Services | 16 | $2.8M | $176K | 12.5% |
| 541219 | Other Accounting Services | 16 | $1.3M | $80K | 12.5% |
| 722513 | Limited-Service Restaurants | 8 | $800K | $100K | 6.3% |
| 541613 | Marketing Consulting Services | 8 | $672K | $84K | 6.3% |
| 812112 | Beauty Salons | 8 | $216K | $27K | 6.3% |
| 561730 | Landscaping Services | 8 | $720K | $90K | 6.3% |
| 423310 | Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers | 8 | $960K | $120K | 6.3% |
| 311813 | Frozen Cakes, Pies, and Other Pastries Manufacturing | 8 | $288K | $36K | 6.3% |
| 445132 | Other | 8 | $1.1M | $135K | 6.3% |
| 561312 | Executive Search Services | 8 | $160K | $20K | 6.3% |
Geographic Distribution
SBA lending activity for First PREMIER Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| South Dakota (SD) | 128 | $17.5M | 100.0% |
Why Choose First PREMIER Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 128 SBA loans approved, totaling $17.5M in financing
- ✓Industry Expertise: Specialized focus on Child Day Care Services, Other Accounting Services, Limited-Service Restaurants
- ✓Competitive Terms: Average interest rate of 5.76% with flexible term lengths averaging 77 months
- ✓Loan Range: Loan sizes from $20K to $593K, with an average of $136K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in SD
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 PREMIER Bank SBA lending
What types of businesses does First PREMIER Bank typically finance?
First PREMIER Bank specializes in SBA 7(a) lending to specific industries including child day care services, other accounting services, limited-service restaurants, marketing consulting services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First PREMIER Bank's typical SBA loan terms?
First PREMIER Bank's SBA 7(a) loans typically feature an average interest rate of 5.76% and average term length of 77 months (approximately 6 years). Loan sizes range from $20K to $593K, with an average loan size of $136K.
Do I need a business valuation for a First PREMIER Bank SBA loan?
Yes, First PREMIER 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 PREMIER Bank compare to other SBA lenders?
First PREMIER Bank has originated 128 SBA loans totaling $17.5M 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 PREMIER Bank lend in?
First PREMIER Bank provides SBA 7(a) financing with particularly strong presence in SD. 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.