Gate City Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Gate City Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 1 | $135K | $135K | 25.0% |
| 332322 | Sheet Metal Work Manufacturing | 1 | $125K | $125K | 25.0% |
Geographic Distribution
SBA lending activity for Gate City Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| North Dakota (ND) | 4 | $484K | 100.0% |
Why Choose Gate City Bank?
Based on SBA 7(a) lending track record from 2009-2017
- ✓Proven Track Record: 4 SBA loans approved, totaling $484K in financing
- ✓Industry Expertise: Specialized focus on Plumbing, Heating, and Air-Conditioning Contractors, Sheet Metal Work Manufacturing
- ✓Competitive Terms: Average interest rate of 5.90% with flexible term lengths averaging 105 months
- ✓Loan Range: Loan sizes from $60K to $164K, with an average of $121K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in 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 Gate City Bank SBA lending
What types of businesses does Gate City Bank typically finance?
Gate City Bank specializes in SBA 7(a) lending to specific industries including plumbing, heating, and air-conditioning contractors, sheet metal work manufacturing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Gate City Bank's typical SBA loan terms?
Gate City Bank's SBA 7(a) loans typically feature an average interest rate of 5.90% and average term length of 105 months (approximately 9 years). Loan sizes range from $60K to $164K, with an average loan size of $121K.
Do I need a business valuation for a Gate City Bank SBA loan?
Yes, Gate City 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 Gate City Bank compare to other SBA lenders?
Gate City Bank has originated 4 SBA loans totaling $484K since 2009. 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 Gate City Bank lend in?
Gate City Bank provides SBA 7(a) financing with particularly strong presence in 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?
Certified valuations are often required for SBA loans over $250,000.
Get your certified valuation from Fair Market Value.