First State Bank of Le Center
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First State Bank of Le Center · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 484110 | General Freight Trucking, Local | 3 | $262K | $87K | 15.8% |
| 531120 | Lessors of Nonresidential Buildings (except Miniwarehouses) | 2 | $159K | $79K | 10.5% |
| 541320 | Landscape Architectural Services | 1 | $75K | $75K | 5.3% |
| 562991 | Septic Tank and Related Services | 1 | $100K | $100K | 5.3% |
| 445291 | Baked Goods Retailers | 1 | $25K | $25K | 5.3% |
| 621310 | Offices of Chiropractors | 1 | $120K | $120K | 5.3% |
| 339920 | Sporting and Athletic Goods Manufacturing | 1 | $50K | $50K | 5.3% |
| 311812 | Commercial Bakeries | 1 | $203K | $203K | 5.3% |
| 722511 | Full-Service Restaurants | 1 | $210K | $210K | 5.3% |
Geographic Distribution
SBA lending activity for First State Bank of Le Center by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 17 | $1.5M | 89.5% |
| South Dakota (SD) | 1 | $860K | 5.3% |
| Wyoming (WY) | 1 | $23K | 5.3% |
Why Choose First State Bank of Le Center?
Based on SBA 7(a) lending track record from 1994-2024
- ✓Proven Track Record: 19 SBA loans approved, totaling $2.4M in financing
- ✓Industry Expertise: Specialized focus on General Freight Trucking, Local, Lessors of Nonresidential Buildings (except Miniwarehouses), Landscape Architectural Services
- ✓Competitive Terms: Average interest rate of 7.14% with flexible term lengths averaging 83 months
- ✓Loan Range: Loan sizes from $10K to $860K, with an average of $127K
- ✓Nationwide Reach: Active lending in 3 states, with strong presence in MN, WY, 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 State Bank of Le Center SBA lending
What types of businesses does First State Bank of Le Center typically finance?
First State Bank of Le Center specializes in SBA 7(a) lending to specific industries including general freight trucking, local, lessors of nonresidential buildings (except miniwarehouses), landscape architectural services, septic tank and related services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First State Bank of Le Center's typical SBA loan terms?
First State Bank of Le Center's SBA 7(a) loans typically feature an average interest rate of 7.14% and average term length of 83 months (approximately 7 years). Loan sizes range from $10K to $860K, with an average loan size of $127K.
Do I need a business valuation for a First State Bank of Le Center SBA loan?
Yes, First State Bank of Le Center 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 Le Center compare to other SBA lenders?
First State Bank of Le Center has originated 19 SBA loans totaling $2.4M 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 State Bank of Le Center lend in?
First State Bank of Le Center provides SBA 7(a) financing with particularly strong presence in MN, WY, 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?
Certified valuations are often required for SBA loans over $250,000.
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