Mercantile Bank
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by Mercantile Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 323111 | Commercial Gravure Printing | 16 | $5.6M | $350K | 28.6% |
| 722511 | Full-Service Restaurants | 8 | $3.6M | $450K | 14.3% |
| 812112 | Beauty Salons | 8 | $1.0M | $129K | 14.3% |
| 812910 | Pet Care (except Veterinary) Services | 8 | $3.5M | $440K | 14.3% |
| 722515 | Snack and Nonalcoholic Beverage Bars | 8 | $360K | $45K | 14.3% |
| 238290 | Other Building Equipment Contractors | 8 | $10.4M | $1.3M | 14.3% |
Geographic Distribution
SBA lending activity for Mercantile Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Michigan (MI) | 56 | $24.5M | 100.0% |
Why Choose Mercantile Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 56 SBA loans approved, totaling $24.5M in financing
- ✓Industry Expertise: Specialized focus on Commercial Gravure Printing, Full-Service Restaurants, Beauty Salons
- ✓Competitive Terms: Average interest rate of 4.84% with flexible term lengths averaging 115 months
- ✓Loan Range: Loan sizes from $45K to $1.3M, with an average of $438K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MI
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 Mercantile Bank SBA lending
What types of businesses does Mercantile Bank typically finance?
Mercantile Bank specializes in SBA 7(a) lending to specific industries including commercial gravure printing, full-service restaurants, beauty salons, pet care (except veterinary) services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Mercantile Bank's typical SBA loan terms?
Mercantile Bank's SBA 7(a) loans typically feature an average interest rate of 4.84% and average term length of 115 months (approximately 10 years). Loan sizes range from $45K to $1.3M, with an average loan size of $438K.
Do I need a business valuation for a Mercantile Bank SBA loan?
Yes, Mercantile 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 Mercantile Bank compare to other SBA lenders?
Mercantile Bank has originated 56 SBA loans totaling $24.5M 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 Mercantile Bank lend in?
Mercantile Bank provides SBA 7(a) financing with particularly strong presence in MI. 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?
Professional valuations are often required for SBA loans over $250,000.
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