Merchants Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Merchants Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 423810 | Construction and Mining (except Oil Well) Machinery and Equipment Merchant Wholesalers | 3 | $130K | $43K | 5.7% |
| 621310 | Offices of Chiropractors | 2 | $107K | $54K | 3.8% |
| 339920 | Sporting and Athletic Goods Manufacturing | 2 | $230K | $115K | 3.8% |
| 541940 | Veterinary Services | 2 | $164K | $82K | 3.8% |
| 445110 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 2 | $100K | $50K | 3.8% |
| 624410 | Child Care Services | 2 | $35K | $18K | 3.8% |
| 541410 | Interior Design Services | 2 | $81K | $41K | 3.8% |
| 722410 | Drinking Places (Alcoholic Beverages) | 2 | $323K | $162K | 3.8% |
| 524210 | Insurance Agencies and Brokerages | 2 | $430K | $215K | 3.8% |
| 811310 | Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance | 1 | $240K | $240K | 1.9% |
Geographic Distribution
SBA lending activity for Merchants Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| North Dakota (ND) | 40 | $4.0M | 75.5% |
| Minnesota (MN) | 4 | $1.6M | 7.5% |
| Montana (MT) | 7 | $1.5M | 13.2% |
| Mississippi (MS) | 1 | $70K | 1.9% |
| Iowa (IA) | 1 | $22K | 1.9% |
Why Choose Merchants Bank?
Based on SBA 7(a) lending track record from 1991-2022
- ✓Proven Track Record: 53 SBA loans approved, totaling $7.3M in financing
- ✓Industry Expertise: Specialized focus on Construction and Mining (except Oil Well) Machinery and Equipment Merchant Wholesalers, Offices of Chiropractors, Sporting and Athletic Goods Manufacturing
- ✓Competitive Terms: Average interest rate of 5.84% with flexible term lengths averaging 105 months
- ✓Loan Range: Loan sizes from $5K to $700K, with an average of $138K
- ✓Nationwide Reach: Active lending in 5 states, with strong presence in ND, MT, MN
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 Merchants Bank SBA lending
What types of businesses does Merchants Bank typically finance?
Merchants Bank specializes in SBA 7(a) lending to specific industries including construction and mining (except oil well) machinery and equipment merchant wholesalers, offices of chiropractors, sporting and athletic goods manufacturing, veterinary services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Merchants Bank's typical SBA loan terms?
Merchants Bank's SBA 7(a) loans typically feature an average interest rate of 5.84% and average term length of 105 months (approximately 9 years). Loan sizes range from $5K to $700K, with an average loan size of $138K.
Do I need a business valuation for a Merchants Bank SBA loan?
Yes, Merchants 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 Merchants Bank compare to other SBA lenders?
Merchants Bank has originated 53 SBA loans totaling $7.3M 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 Merchants Bank lend in?
Merchants Bank provides SBA 7(a) financing with particularly strong presence in ND, MT, MN, MS, 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.
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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