First Security Bank - Canby
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First Security Bank - Canby · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 1 | $95K | $95K | 6.3% |
| 812310 | Coin-Operated Laundries and Drycleaners | 1 | $62K | $62K | 6.3% |
| 624410 | Child Care Services | 1 | $6K | $6K | 6.3% |
| 337110 | Wood Kitchen Cabinet and Countertop Manufacturing | 1 | $33K | $33K | 6.3% |
| 811111 | General Automotive Repair | 1 | $50K | $50K | 6.3% |
Geographic Distribution
SBA lending activity for First Security Bank - Canby by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 16 | $1.1M | 100.0% |
Why Choose First Security Bank - Canby?
Based on SBA 7(a) lending track record from 1994-2010
- ✓Proven Track Record: 16 SBA loans approved, totaling $1.1M in financing
- ✓Industry Expertise: Specialized focus on Automotive Body, Paint, and Interior Repair and Maintenance, Coin-Operated Laundries and Drycleaners, Child Care Services
- ✓Competitive Terms: Average interest rate of 5.75% with flexible term lengths averaging 132 months
- ✓Loan Range: Loan sizes from $6K to $171K, with an average of $66K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MN
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 Security Bank - Canby SBA lending
What types of businesses does First Security Bank - Canby typically finance?
First Security Bank - Canby specializes in SBA 7(a) lending to specific industries including automotive body, paint, and interior repair and maintenance, coin-operated laundries and drycleaners, child care services, wood kitchen cabinet and countertop manufacturing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First Security Bank - Canby's typical SBA loan terms?
First Security Bank - Canby's SBA 7(a) loans typically feature an average interest rate of 5.75% and average term length of 132 months (approximately 11 years). Loan sizes range from $6K to $171K, with an average loan size of $66K.
Do I need a business valuation for a First Security Bank - Canby SBA loan?
Yes, First Security Bank - Canby 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 Security Bank - Canby compare to other SBA lenders?
First Security Bank - Canby has originated 16 SBA loans totaling $1.1M since 1994. 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 Security Bank - Canby lend in?
First Security Bank - Canby provides SBA 7(a) financing with particularly strong presence in MN. 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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