FirstBank
SBA 7(a) Lending Profile · FY 2021 analysis
Industry Focus
Top industries served by FirstBank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 96 | $65.8M | $685K | 12.8% |
| 722513 | Limited-Service Restaurants | 48 | $22.0M | $457K | 6.4% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 40 | $40.6M | $1.0M | 5.3% |
| 561730 | Landscaping Services | 24 | $21.0M | $874K | 3.2% |
| 721110 | Hotels (except Casino Hotels) and Motels | 24 | $51.8M | $2.2M | 3.2% |
| 238990 | All Other Specialty Trade Contractors | 24 | $10.5M | $436K | 3.2% |
| 541110 | Offices of Lawyers | 24 | $9.9M | $413K | 3.2% |
| 611110 | Elementary and Secondary Schools | 16 | $10.0M | $628K | 2.1% |
| 812990 | All Other Personal Services | 16 | $6.0M | $375K | 2.1% |
| 238210 | Electrical Contractors | 16 | $3.8M | $239K | 2.1% |
Geographic Distribution
SBA lending activity for FirstBank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Colorado (CO) | 216 | $291.3M | 28.7% |
| Georgia (GA) | 360 | $198.7M | 47.9% |
| Alabama (AL) | 112 | $109.5M | 14.9% |
| Arizona (AZ) | 32 | $24.3M | 4.3% |
| North Carolina (NC) | 8 | $7.9M | 1.1% |
| Florida (FL) | 16 | $7.4M | 2.1% |
| Texas (TX) | 8 | $2.0M | 1.1% |
Why Choose FirstBank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 752 SBA loans approved, totaling $641.0M in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Limited-Service Restaurants, Plumbing, Heating, and Air-Conditioning Contractors
- ✓Competitive Terms: Average interest rate of 7.88% with flexible term lengths averaging 132 months
- ✓Loan Range: Loan sizes from $50K to $5.0M, with an average of $852K
- ✓Nationwide Reach: Active lending in 7 states, with strong presence in GA, CO, 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 FirstBank SBA lending
What types of businesses does FirstBank typically finance?
FirstBank specializes in SBA 7(a) lending to specific industries including full-service restaurants, limited-service restaurants, plumbing, heating, and air-conditioning contractors, landscaping services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are FirstBank's typical SBA loan terms?
FirstBank's SBA 7(a) loans typically feature an average interest rate of 7.88% and average term length of 132 months (approximately 11 years). Loan sizes range from $50K to $5.0M, with an average loan size of $852K.
Do I need a business valuation for a FirstBank SBA loan?
Yes, FirstBank 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 FirstBank compare to other SBA lenders?
FirstBank has originated 752 SBA loans totaling $641.0M 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 FirstBank lend in?
FirstBank provides SBA 7(a) financing with particularly strong presence in GA, CO, AL, AZ, FL. 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.
Get your certified valuation from Fair Market Value.