Home State Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Home State Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 621310 | Offices of Chiropractors | 9 | $771K | $86K | 6.3% |
| 811111 | General Automotive Repair | 6 | $1.0M | $167K | 4.2% |
| 722511 | Full-Service Restaurants | 5 | $866K | $173K | 3.5% |
| 713950 | Bowling Centers | 3 | $666K | $222K | 2.1% |
| 541110 | Offices of Lawyers | 3 | $68K | $23K | 2.1% |
| 237310 | Highway, Street, and Bridge Construction | 3 | $3.1M | $1.0M | 2.1% |
| 722513 | Limited-Service Restaurants | 3 | $521K | $174K | 2.1% |
| 238210 | Electrical Contractors and Other Wiring Installation Contractors | 3 | $550K | $183K | 2.1% |
| 541990 | All Other Professional, Scientific, and Technical Services | 2 | $700K | $350K | 1.4% |
| 624120 | Services for the Elderly and Persons with Disabilities | 2 | $132K | $66K | 1.4% |
Geographic Distribution
SBA lending activity for Home State Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Iowa (IA) | 37 | $16.6M | 25.7% |
| Minnesota (MN) | 82 | $13.3M | 56.9% |
| Texas (TX) | 9 | $1.7M | 6.3% |
| Illinois (IL) | 13 | $1.2M | 9.0% |
| Nebraska (NE) | 1 | $500K | 0.7% |
| Wisconsin (WI) | 2 | $160K | 1.4% |
Why Choose Home State Bank?
Based on SBA 7(a) lending track record from 1991-2022
- ✓Proven Track Record: 144 SBA loans approved, totaling $33.4M in financing
- ✓Industry Expertise: Specialized focus on Offices of Chiropractors, General Automotive Repair, Full-Service Restaurants
- ✓Competitive Terms: Average interest rate of 6.02% with flexible term lengths averaging 105 months
- ✓Loan Range: Loan sizes from $5K to $3.3M, with an average of $232K
- ✓Nationwide Reach: Active lending in 6 states, with strong presence in MN, IA, IL
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 Home State Bank SBA lending
What types of businesses does Home State Bank typically finance?
Home State Bank specializes in SBA 7(a) lending to specific industries including offices of chiropractors, general automotive repair, full-service restaurants, bowling centers. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Home State Bank's typical SBA loan terms?
Home State Bank's SBA 7(a) loans typically feature an average interest rate of 6.02% and average term length of 105 months (approximately 9 years). Loan sizes range from $5K to $3.3M, with an average loan size of $232K.
Do I need a business valuation for a Home State Bank SBA loan?
Yes, Home State 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 Home State Bank compare to other SBA lenders?
Home State Bank has originated 144 SBA loans totaling $33.4M 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 Home State Bank lend in?
Home State Bank provides SBA 7(a) financing with particularly strong presence in MN, IA, IL, TX, WI. 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.