First State Bank of Bloomington
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First State Bank of Bloomington · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 541110 | Offices of Lawyers | 1 | $110K | $110K | 100.0% |
Geographic Distribution
SBA lending activity for First State Bank of Bloomington by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Illinois (IL) | 1 | $110K | 100.0% |
Why Choose First State Bank of Bloomington?
Based on SBA 7(a) lending track record from 2007-2007
- ✓Proven Track Record: 1 SBA loans approved, totaling $110K in financing
- ✓Industry Expertise: Specialized focus on Offices of Lawyers
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 36 months
- ✓Loan Range: Loan sizes from $110K to $110K, with an average of $110K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in IL
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 State Bank of Bloomington SBA lending
What types of businesses does First State Bank of Bloomington typically finance?
First State Bank of Bloomington specializes in SBA 7(a) lending to specific industries including offices of lawyers. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First State Bank of Bloomington's typical SBA loan terms?
First State Bank of Bloomington's SBA 7(a) loans typically feature an average interest rate of — and average term length of 36 months (approximately 3 years). Loan sizes range from $110K to $110K, with an average loan size of $110K.
Do I need a business valuation for a First State Bank of Bloomington SBA loan?
Yes, First State Bank of Bloomington 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 State Bank of Bloomington compare to other SBA lenders?
First State Bank of Bloomington has originated 1 SBA loans totaling $110K since 2007. 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 State Bank of Bloomington lend in?
First State Bank of Bloomington provides SBA 7(a) financing with particularly strong presence in IL. 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.
Get your certified valuation from Fair Market Value.