Great Lakes Bank, National Association
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Great Lakes Bank, National Association · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811111 | General Automotive Repair | 2 | $318K | $159K | 3.0% |
| 314110 | Carpet and Rug Mills | 1 | $77K | $77K | 1.5% |
| 722410 | Drinking Places (Alcoholic Beverages) | 1 | $100K | $100K | 1.5% |
| 333611 | Turbine and Turbine Generator Set Units Manufacturing | 1 | $225K | $225K | 1.5% |
| 624410 | Child Care Services | 1 | $100K | $100K | 1.5% |
| 441120 | Used Car Dealers | 1 | $63K | $63K | 1.5% |
| 722513 | Limited-Service Restaurants | 1 | $325K | $325K | 1.5% |
| 445110 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 1 | $200K | $200K | 1.5% |
| 621320 | Offices of Optometrists | 1 | $55K | $55K | 1.5% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 1 | $250K | $250K | 1.5% |
Geographic Distribution
SBA lending activity for Great Lakes Bank, National Association by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Illinois (IL) | 65 | $8.3M | 98.5% |
| Indiana (IN) | 1 | $100K | 1.5% |
Why Choose Great Lakes Bank, National Association?
Based on SBA 7(a) lending track record from 1992-2014
- ✓Proven Track Record: 66 SBA loans approved, totaling $8.4M in financing
- ✓Industry Expertise: Specialized focus on General Automotive Repair, Carpet and Rug Mills, Drinking Places (Alcoholic Beverages)
- ✓Competitive Terms: Average interest rate of 7.50% with flexible term lengths averaging 94 months
- ✓Loan Range: Loan sizes from $15K to $1.0M, with an average of $128K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in IL, IN
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 Great Lakes Bank, National Association SBA lending
What types of businesses does Great Lakes Bank, National Association typically finance?
Great Lakes Bank, National Association specializes in SBA 7(a) lending to specific industries including general automotive repair, carpet and rug mills, drinking places (alcoholic beverages), turbine and turbine generator set units manufacturing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Great Lakes Bank, National Association's typical SBA loan terms?
Great Lakes Bank, National Association's SBA 7(a) loans typically feature an average interest rate of 7.50% and average term length of 94 months (approximately 8 years). Loan sizes range from $15K to $1.0M, with an average loan size of $128K.
Do I need a business valuation for a Great Lakes Bank, National Association SBA loan?
Yes, Great Lakes Bank, National Association 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 Great Lakes Bank, National Association compare to other SBA lenders?
Great Lakes Bank, National Association has originated 66 SBA loans totaling $8.4M 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 Great Lakes Bank, National Association lend in?
Great Lakes Bank, National Association provides SBA 7(a) financing with particularly strong presence in IL, IN. 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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