MidAmerica National Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by MidAmerica National Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722410 | Drinking Places (Alcoholic Beverages) | 3 | $311K | $104K | 9.7% |
| 621210 | Offices of Dentists | 2 | $515K | $257K | 6.5% |
| 333415 | Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing | 1 | $384K | $384K | 3.2% |
| 561431 | Private Mail Centers | 1 | $150K | $150K | 3.2% |
| 624410 | Child Care Services | 1 | $425K | $425K | 3.2% |
| 339920 | Sporting and Athletic Goods Manufacturing | 1 | $155K | $155K | 3.2% |
| 722511 | Full-Service Restaurants | 1 | $302K | $302K | 3.2% |
| 484230 | Specialized Freight (except Used Goods) Trucking, Long-Distance | 1 | $125K | $125K | 3.2% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 1 | $22K | $22K | 3.2% |
| 621320 | Offices of Optometrists | 1 | $100K | $100K | 3.2% |
Geographic Distribution
SBA lending activity for MidAmerica National Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Illinois (IL) | 30 | $5.7M | 96.8% |
| Iowa (IA) | 1 | $384K | 3.2% |
Why Choose MidAmerica National Bank?
Based on SBA 7(a) lending track record from 1991-2012
- ✓Proven Track Record: 31 SBA loans approved, totaling $6.1M in financing
- ✓Industry Expertise: Specialized focus on Drinking Places (Alcoholic Beverages), Offices of Dentists, Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing
- ✓Competitive Terms: Average interest rate of 5.81% with flexible term lengths averaging 132 months
- ✓Loan Range: Loan sizes from $22K to $1.1M, with an average of $196K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in IL, 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 MidAmerica National Bank SBA lending
What types of businesses does MidAmerica National Bank typically finance?
MidAmerica National Bank specializes in SBA 7(a) lending to specific industries including drinking places (alcoholic beverages), offices of dentists, air-conditioning and warm air heating equipment and commercial and industrial refrigeration equipment manufacturing, private mail centers. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are MidAmerica National Bank's typical SBA loan terms?
MidAmerica National Bank's SBA 7(a) loans typically feature an average interest rate of 5.81% and average term length of 132 months (approximately 11 years). Loan sizes range from $22K to $1.1M, with an average loan size of $196K.
Do I need a business valuation for a MidAmerica National Bank SBA loan?
Yes, MidAmerica 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 MidAmerica National Bank compare to other SBA lenders?
MidAmerica National Bank has originated 31 SBA loans totaling $6.1M 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 MidAmerica National Bank lend in?
MidAmerica National Bank provides SBA 7(a) financing with particularly strong presence in IL, 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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