First State Bank of Cando
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First State Bank of Cando · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 1 | $20K | $20K | 7.7% |
| 441110 | New Car Dealers | 1 | $43K | $43K | 7.7% |
| 441120 | Used Car Dealers | 1 | $20K | $20K | 7.7% |
| 811198 | All Other Automotive Repair and Maintenance | 1 | $150K | $150K | 7.7% |
| 713940 | Fitness and Recreational Sports Centers | 1 | $25K | $25K | 7.7% |
Geographic Distribution
SBA lending activity for First State Bank of Cando by state
| State | Loans | Volume | Share |
|---|---|---|---|
| North Dakota (ND) | 13 | $694K | 100.0% |
Why Choose First State Bank of Cando?
Based on SBA 7(a) lending track record from 1996-2011
- ✓Proven Track Record: 13 SBA loans approved, totaling $694K in financing
- ✓Industry Expertise: Specialized focus on Automotive Body, Paint, and Interior Repair and Maintenance, New Car Dealers, Used Car Dealers
- ✓Competitive Terms: Average interest rate of 7.25% with flexible term lengths averaging 151 months
- ✓Loan Range: Loan sizes from $17K to $200K, with an average of $53K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in ND
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 Cando SBA lending
What types of businesses does First State Bank of Cando typically finance?
First State Bank of Cando specializes in SBA 7(a) lending to specific industries including automotive body, paint, and interior repair and maintenance, new car dealers, used car dealers, all other automotive repair and maintenance. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First State Bank of Cando's typical SBA loan terms?
First State Bank of Cando's SBA 7(a) loans typically feature an average interest rate of 7.25% and average term length of 151 months (approximately 13 years). Loan sizes range from $17K to $200K, with an average loan size of $53K.
Do I need a business valuation for a First State Bank of Cando SBA loan?
Yes, First State Bank of Cando 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 Cando compare to other SBA lenders?
First State Bank of Cando has originated 13 SBA loans totaling $694K since 1996. 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 Cando lend in?
First State Bank of Cando provides SBA 7(a) financing with particularly strong presence in ND. 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.
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Explore Industry Reports →Need a Business Valuation?
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