Houghton State Bank
SBA 7(a) Lending Profile · FY 2020 analysis
Industry Focus
Top industries served by Houghton State Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 325612 | Polish and Other Sanitation Good Manufacturing | 8 | $2.8M | $350K | 33.3% |
| 311811 | Retail Bakeries | 8 | $704K | $88K | 33.3% |
| 455110 | Other | 8 | $544K | $68K | 33.3% |
Geographic Distribution
SBA lending activity for Houghton State Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Iowa (IA) | 24 | $4.0M | 100.0% |
Why Choose Houghton State Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 24 SBA loans approved, totaling $4.0M in financing
- ✓Industry Expertise: Specialized focus on Polish and Other Sanitation Good Manufacturing, Retail Bakeries, Other
- ✓Competitive Terms: Average interest rate of 7.88% with flexible term lengths averaging 105 months
- ✓Loan Range: Loan sizes from $68K to $350K, with an average of $169K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in IA
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 Houghton State Bank SBA lending
What types of businesses does Houghton State Bank typically finance?
Houghton State Bank specializes in SBA 7(a) lending to specific industries including polish and other sanitation good manufacturing, retail bakeries, other. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Houghton State Bank's typical SBA loan terms?
Houghton State Bank's SBA 7(a) loans typically feature an average interest rate of 7.88% and average term length of 105 months (approximately 9 years). Loan sizes range from $68K to $350K, with an average loan size of $169K.
Do I need a business valuation for a Houghton State Bank SBA loan?
Yes, Houghton 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 Houghton State Bank compare to other SBA lenders?
Houghton State Bank has originated 24 SBA loans totaling $4.0M 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 Houghton State Bank lend in?
Houghton State Bank provides SBA 7(a) financing with particularly strong presence in IA. 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.
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Explore Industry Reports →Need a Business Valuation?
Professional valuations are often required for SBA loans over $250,000.
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