First Southern National Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First Southern National Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 621210 | Offices of Dentists | 2 | $273K | $137K | 5.7% |
| 811111 | General Automotive Repair | 2 | $44K | $22K | 5.7% |
| 321920 | Wood Container and Pallet Manufacturing | 1 | $70K | $70K | 2.9% |
| 238140 | Masonry Contractors | 1 | $100K | $100K | 2.9% |
| 541211 | Offices of Certified Public Accountants | 1 | $206K | $206K | 2.9% |
| 561730 | Landscaping Services | 1 | $82K | $82K | 2.9% |
| 621340 | Offices of Physical, Occupational and Speech Therapists, and Audiologists | 1 | $125K | $125K | 2.9% |
| 524210 | Insurance Agencies and Brokerages | 1 | $20K | $20K | 2.9% |
| 524126 | Direct Property and Casualty Insurance Carriers | 1 | $154K | $154K | 2.9% |
| 812210 | Funeral Homes and Funeral Services | 1 | $1.1M | $1.1M | 2.9% |
Geographic Distribution
SBA lending activity for First Southern National Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Kentucky (KY) | 32 | $5.7M | 91.4% |
| Tennessee (TN) | 3 | $420K | 8.6% |
Why Choose First Southern National Bank?
Based on SBA 7(a) lending track record from 1992-2017
- ✓Proven Track Record: 35 SBA loans approved, totaling $6.1M in financing
- ✓Industry Expertise: Specialized focus on Offices of Dentists, General Automotive Repair, Wood Container and Pallet Manufacturing
- ✓Competitive Terms: Average interest rate of 4.98% with flexible term lengths averaging 115 months
- ✓Loan Range: Loan sizes from $14K to $1.1M, with an average of $174K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in KY, TN
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 Southern National Bank SBA lending
What types of businesses does First Southern National Bank typically finance?
First Southern National Bank specializes in SBA 7(a) lending to specific industries including offices of dentists, general automotive repair, wood container and pallet manufacturing, masonry contractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First Southern National Bank's typical SBA loan terms?
First Southern National Bank's SBA 7(a) loans typically feature an average interest rate of 4.98% and average term length of 115 months (approximately 10 years). Loan sizes range from $14K to $1.1M, with an average loan size of $174K.
Do I need a business valuation for a First Southern National Bank SBA loan?
Yes, First Southern National 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 Southern National Bank compare to other SBA lenders?
First Southern National Bank has originated 35 SBA loans totaling $6.1M since 1992. 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 Southern National Bank lend in?
First Southern National Bank provides SBA 7(a) financing with particularly strong presence in KY, TN. 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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