First State Bank of the South, Inc.
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First State Bank of the South, Inc. · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 561621 | Security Systems Services (except Locksmiths) | 2 | $90K | $45K | 8.7% |
| 812310 | Coin-Operated Laundries and Drycleaners | 1 | $150K | $150K | 4.3% |
| 624410 | Child Care Services | 1 | $35K | $35K | 4.3% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 1 | $150K | $150K | 4.3% |
| 713940 | Fitness and Recreational Sports Centers | 1 | $22K | $22K | 4.3% |
| 621320 | Offices of Optometrists | 1 | $130K | $130K | 4.3% |
| 721214 | Recreational and Vacation Camps (except Campgrounds) | 1 | $1.4M | $1.4M | 4.3% |
Geographic Distribution
SBA lending activity for First State Bank of the South, Inc. by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Alabama (AL) | 23 | $4.3M | 100.0% |
Why Choose First State Bank of the South, Inc.?
Based on SBA 7(a) lending track record from 1992-2016
- ✓Proven Track Record: 23 SBA loans approved, totaling $4.3M in financing
- ✓Industry Expertise: Specialized focus on Security Systems Services (except Locksmiths), Coin-Operated Laundries and Drycleaners, Child Care Services
- ✓Competitive Terms: Average interest rate of 5.83% with flexible term lengths averaging 114 months
- ✓Loan Range: Loan sizes from $20K to $1.4M, with an average of $188K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in AL
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 the South, Inc. SBA lending
What types of businesses does First State Bank of the South, Inc. typically finance?
First State Bank of the South, Inc. specializes in SBA 7(a) lending to specific industries including security systems services (except locksmiths), coin-operated laundries and drycleaners, child care services, automotive body, paint, and interior 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 the South, Inc.'s typical SBA loan terms?
First State Bank of the South, Inc.'s SBA 7(a) loans typically feature an average interest rate of 5.83% and average term length of 114 months (approximately 10 years). Loan sizes range from $20K to $1.4M, with an average loan size of $188K.
Do I need a business valuation for a First State Bank of the South, Inc. SBA loan?
Yes, First State Bank of the South, Inc. 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 the South, Inc. compare to other SBA lenders?
First State Bank of the South, Inc. has originated 23 SBA loans totaling $4.3M since 1992. 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 the South, Inc. lend in?
First State Bank of the South, Inc. provides SBA 7(a) financing with particularly strong presence in AL. 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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