First United Bank
SBA 7(a) Lending Profile · FY 2020 analysis
Industry Focus
Top industries served by First United Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 332111 | Iron and Steel Forging | 40 | $12.6M | $315K | 20.0% |
| 722511 | Full-Service Restaurants | 16 | $2.3M | $146K | 8.0% |
| 541211 | Offices of Certified Public Accountants | 16 | $6.5M | $408K | 8.0% |
| 624230 | Emergency and Other Relief Services | 16 | $11.2M | $700K | 8.0% |
| 722513 | Limited-Service Restaurants | 8 | $1.0M | $125K | 4.0% |
| 324121 | Asphalt Paving Mixture and Block Manufacturing | 8 | $4.0M | $500K | 4.0% |
| 451130 | Sewing, Needlework, and Piece Goods Stores | 8 | $704K | $88K | 4.0% |
| 722515 | Snack and Nonalcoholic Beverage Bars | 8 | $4.0M | $500K | 4.0% |
| 238990 | All Other Specialty Trade Contractors | 8 | $3.6M | $450K | 4.0% |
| 115112 | Soil Preparation, Planting, and Cultivating | 8 | $3.5M | $437K | 4.0% |
Geographic Distribution
SBA lending activity for First United Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Texas (TX) | 184 | $57.8M | 92.0% |
| North Dakota (ND) | 16 | $42.0M | 8.0% |
Why Choose First United Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 200 SBA loans approved, totaling $99.8M in financing
- ✓Industry Expertise: Specialized focus on Iron and Steel Forging, Full-Service Restaurants, Offices of Certified Public Accountants
- ✓Competitive Terms: Average interest rate of 7.55% with flexible term lengths averaging 78 months
- ✓Loan Range: Loan sizes from $38K to $5.0M, with an average of $499K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in TX, ND
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 United Bank SBA lending
What types of businesses does First United Bank typically finance?
First United Bank specializes in SBA 7(a) lending to specific industries including iron and steel forging, full-service restaurants, offices of certified public accountants, emergency and other relief services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First United Bank's typical SBA loan terms?
First United Bank's SBA 7(a) loans typically feature an average interest rate of 7.55% and average term length of 78 months (approximately 7 years). Loan sizes range from $38K to $5.0M, with an average loan size of $499K.
Do I need a business valuation for a First United Bank SBA loan?
Yes, First United Bank 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 United Bank compare to other SBA lenders?
First United Bank has originated 200 SBA loans totaling $99.8M 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 United Bank lend in?
First United Bank provides SBA 7(a) financing with particularly strong presence in TX, ND. 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?
Professional valuations are often required for SBA loans over $250,000.
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