Hedrick Savings Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Hedrick Savings Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 2 | $200K | $100K | 2.0% |
| 812310 | Coin-Operated Laundries and Drycleaners | 2 | $238K | $119K | 2.0% |
| 484121 | General Freight Trucking, Long-Distance, Truckload | 2 | $169K | $85K | 2.0% |
| 811111 | General Automotive Repair | 2 | $63K | $31K | 2.0% |
| 811192 | Car Washes | 2 | $120K | $60K | 2.0% |
| 722410 | Drinking Places (Alcoholic Beverages) | 1 | $40K | $40K | 1.0% |
| 339950 | Sign Manufacturing | 1 | $276K | $276K | 1.0% |
| 488510 | Freight Transportation Arrangement | 1 | $250K | $250K | 1.0% |
| 561740 | Carpet and Upholstery Cleaning Services | 1 | $52K | $52K | 1.0% |
| 812112 | Beauty Salons | 1 | $32K | $32K | 1.0% |
Geographic Distribution
SBA lending activity for Hedrick Savings Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Iowa (IA) | 97 | $7.5M | 99.0% |
| Oklahoma (OK) | 1 | $25K | 1.0% |
Why Choose Hedrick Savings Bank?
Based on SBA 7(a) lending track record from 1991-2008
- ✓Proven Track Record: 98 SBA loans approved, totaling $7.5M in financing
- ✓Industry Expertise: Specialized focus on Automotive Body, Paint, and Interior Repair and Maintenance, Coin-Operated Laundries and Drycleaners, General Freight Trucking, Long-Distance, Truckload
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 93 months
- ✓Loan Range: Loan sizes from $5K to $339K, with an average of $77K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in IA, OK
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 Hedrick Savings Bank SBA lending
What types of businesses does Hedrick Savings Bank typically finance?
Hedrick Savings Bank specializes in SBA 7(a) lending to specific industries including automotive body, paint, and interior repair and maintenance, coin-operated laundries and drycleaners, general freight trucking, long-distance, truckload, general automotive repair. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Hedrick Savings Bank's typical SBA loan terms?
Hedrick Savings Bank's SBA 7(a) loans typically feature an average interest rate of — and average term length of 93 months (approximately 8 years). Loan sizes range from $5K to $339K, with an average loan size of $77K.
Do I need a business valuation for a Hedrick Savings Bank SBA loan?
Yes, Hedrick Savings 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 Hedrick Savings Bank compare to other SBA lenders?
Hedrick Savings Bank has originated 98 SBA loans totaling $7.5M since 1991. 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 Hedrick Savings Bank lend in?
Hedrick Savings Bank provides SBA 7(a) financing with particularly strong presence in IA, OK. 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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