First State Bank of Purdy
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by First State Bank of Purdy
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 812111 | Barber Shops | 16 | $400K | $25K | 66.7% |
| 488410 | Motor Vehicle Towing | 8 | $6.6M | $829K | 33.3% |
Geographic Distribution
SBA lending activity for First State Bank of Purdy by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Missouri (MO) | 24 | $7.0M | 100.0% |
Why Choose First State Bank of Purdy?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 24 SBA loans approved, totaling $7.0M in financing
- ✓Industry Expertise: Specialized focus on Barber Shops, Motor Vehicle Towing
- ✓Competitive Terms: Average interest rate of 6.83% with flexible term lengths averaging 135 months
- ✓Loan Range: Loan sizes from $25K to $829K, with an average of $293K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MO
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 Purdy SBA lending
What types of businesses does First State Bank of Purdy typically finance?
First State Bank of Purdy specializes in SBA 7(a) lending to specific industries including barber shops, motor vehicle towing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First State Bank of Purdy's typical SBA loan terms?
First State Bank of Purdy's SBA 7(a) loans typically feature an average interest rate of 6.83% and average term length of 135 months (approximately 11 years). Loan sizes range from $25K to $829K, with an average loan size of $293K.
Do I need a business valuation for a First State Bank of Purdy SBA loan?
Yes, First State Bank of Purdy 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 Purdy compare to other SBA lenders?
First State Bank of Purdy has originated 24 SBA loans totaling $7.0M since 2020. 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 Purdy lend in?
First State Bank of Purdy provides SBA 7(a) financing with particularly strong presence in MO. 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?
Professional valuations are often required for SBA loans over $250,000.
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