Mid-Central National Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Mid-Central National Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811111 | General Automotive Repair | 2 | $55K | $28K | 20.0% |
| 621310 | Offices of Chiropractors | 1 | $27K | $27K | 10.0% |
Geographic Distribution
SBA lending activity for Mid-Central National Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 10 | $462K | 100.0% |
Why Choose Mid-Central National Bank?
Based on SBA 7(a) lending track record from 1995-2001
- ✓Proven Track Record: 10 SBA loans approved, totaling $462K in financing
- ✓Industry Expertise: Specialized focus on General Automotive Repair, Offices of Chiropractors
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 134 months
- ✓Loan Range: Loan sizes from $20K to $100K, with an average of $46K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in 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 Mid-Central National Bank SBA lending
What types of businesses does Mid-Central National Bank typically finance?
Mid-Central National Bank specializes in SBA 7(a) lending to specific industries including general automotive repair, offices of chiropractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Mid-Central National Bank's typical SBA loan terms?
Mid-Central National Bank's SBA 7(a) loans typically feature an average interest rate of — and average term length of 134 months (approximately 11 years). Loan sizes range from $20K to $100K, with an average loan size of $46K.
Do I need a business valuation for a Mid-Central National Bank SBA loan?
Yes, Mid-Central National 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 Mid-Central National Bank compare to other SBA lenders?
Mid-Central National Bank has originated 10 SBA loans totaling $462K since 1995. 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 Mid-Central National Bank lend in?
Mid-Central National Bank provides SBA 7(a) financing with particularly strong presence in MN. 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.
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