First State Bank of Porter
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First State Bank of Porter · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811111 | General Automotive Repair | 4 | $840K | $210K | 7.0% |
| 812310 | Coin-Operated Laundries and Drycleaners | 2 | $320K | $160K | 3.5% |
| 532412 | Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing | 2 | $440K | $220K | 3.5% |
| 713120 | Amusement Arcades | 2 | $87K | $43K | 3.5% |
| 561730 | Landscaping Services | 2 | $111K | $56K | 3.5% |
| 711320 | Promoters of Performing Arts, Sports, and Similar Events without Facilities | 1 | $10K | $10K | 1.8% |
| 722511 | Full-Service Restaurants | 1 | $250K | $250K | 1.8% |
| 621420 | Outpatient Mental Health and Substance Abuse Centers | 1 | $305K | $305K | 1.8% |
| 485310 | Taxi and Ridesharing Services | 1 | $30K | $30K | 1.8% |
| 713910 | Golf Courses and Country Clubs | 1 | $750K | $750K | 1.8% |
Geographic Distribution
SBA lending activity for First State Bank of Porter by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Indiana (IN) | 57 | $8.2M | 100.0% |
Why Choose First State Bank of Porter?
Based on SBA 7(a) lending track record from 1991-2022
- ✓Proven Track Record: 57 SBA loans approved, totaling $8.2M in financing
- ✓Industry Expertise: Specialized focus on General Automotive Repair, Coin-Operated Laundries and Drycleaners, Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing
- ✓Competitive Terms: Average interest rate of 5.92% with flexible term lengths averaging 105 months
- ✓Loan Range: Loan sizes from $10K to $750K, with an average of $144K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in IN
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 Porter SBA lending
What types of businesses does First State Bank of Porter typically finance?
First State Bank of Porter specializes in SBA 7(a) lending to specific industries including general automotive repair, coin-operated laundries and drycleaners, construction, mining, and forestry machinery and equipment rental and leasing, amusement arcades. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First State Bank of Porter's typical SBA loan terms?
First State Bank of Porter's SBA 7(a) loans typically feature an average interest rate of 5.92% and average term length of 105 months (approximately 9 years). Loan sizes range from $10K to $750K, with an average loan size of $144K.
Do I need a business valuation for a First State Bank of Porter SBA loan?
Yes, First State Bank of Porter 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 Porter compare to other SBA lenders?
First State Bank of Porter has originated 57 SBA loans totaling $8.2M since 1991. 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 Porter lend in?
First State Bank of Porter provides SBA 7(a) financing with particularly strong presence in IN. 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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