First State Bank Southwest
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First State Bank Southwest · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 112210 | Hog and Pig Farming | 3 | $600K | $200K | 8.1% |
| 721110 | Hotels (except Casino Hotels) and Motels | 2 | $588K | $294K | 5.4% |
| 484220 | Specialized Freight (except Used Goods) Trucking, Local | 2 | $296K | $148K | 5.4% |
| 621210 | Offices of Dentists | 2 | $185K | $93K | 5.4% |
| 112990 | All Other Animal Production | 2 | $760K | $380K | 5.4% |
| 812112 | Beauty Salons | 2 | $56K | $28K | 5.4% |
| 524210 | Insurance Agencies and Brokerages | 1 | $117K | $117K | 2.7% |
| 311830 | Tortilla Manufacturing | 1 | $70K | $70K | 2.7% |
| 238910 | Site Preparation Contractors | 1 | $935K | $935K | 2.7% |
| 445110 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 1 | $68K | $68K | 2.7% |
Geographic Distribution
SBA lending activity for First State Bank Southwest by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 35 | $7.6M | 94.6% |
| Iowa (IA) | 2 | $2.3M | 5.4% |
Why Choose First State Bank Southwest?
Based on SBA 7(a) lending track record from 1995-2014
- ✓Proven Track Record: 37 SBA loans approved, totaling $9.8M in financing
- ✓Industry Expertise: Specialized focus on Hog and Pig Farming, Hotels (except Casino Hotels) and Motels, Specialized Freight (except Used Goods) Trucking, Local
- ✓Competitive Terms: Average interest rate of 5.40% with flexible term lengths averaging 120 months
- ✓Loan Range: Loan sizes from $24K to $1.9M, with an average of $266K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in MN, IA
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 Southwest SBA lending
What types of businesses does First State Bank Southwest typically finance?
First State Bank Southwest specializes in SBA 7(a) lending to specific industries including hog and pig farming, hotels (except casino hotels) and motels, specialized freight (except used goods) trucking, local, offices of dentists. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First State Bank Southwest's typical SBA loan terms?
First State Bank Southwest's SBA 7(a) loans typically feature an average interest rate of 5.40% and average term length of 120 months (approximately 10 years). Loan sizes range from $24K to $1.9M, with an average loan size of $266K.
Do I need a business valuation for a First State Bank Southwest SBA loan?
Yes, First State Bank Southwest 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 Southwest compare to other SBA lenders?
First State Bank Southwest has originated 37 SBA loans totaling $9.8M since 1995. 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 Southwest lend in?
First State Bank Southwest provides SBA 7(a) financing with particularly strong presence in MN, IA. 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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