Mitchell Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Mitchell Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 812310 | Coin-Operated Laundries and Drycleaners | 1 | $113K | $113K | 3.8% |
| 493110 | General Warehousing and Storage | 1 | $470K | $470K | 3.8% |
| 445291 | Baked Goods Retailers | 1 | $150K | $150K | 3.8% |
| 445110 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 1 | $685K | $685K | 3.8% |
| 621310 | Offices of Chiropractors | 1 | $37K | $37K | 3.8% |
| 512110 | Motion Picture and Video Production | 1 | $150K | $150K | 3.8% |
Geographic Distribution
SBA lending activity for Mitchell Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Wisconsin (WI) | 26 | $6.1M | 100.0% |
Why Choose Mitchell Bank?
Based on SBA 7(a) lending track record from 1991-2009
- ✓Proven Track Record: 26 SBA loans approved, totaling $6.1M in financing
- ✓Industry Expertise: Specialized focus on Coin-Operated Laundries and Drycleaners, General Warehousing and Storage, Baked Goods Retailers
- ✓Competitive Terms: Average interest rate of 6.01% with flexible term lengths averaging 101 months
- ✓Loan Range: Loan sizes from $37K to $1.2M, with an average of $235K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in WI
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 Mitchell Bank SBA lending
What types of businesses does Mitchell Bank typically finance?
Mitchell Bank specializes in SBA 7(a) lending to specific industries including coin-operated laundries and drycleaners, general warehousing and storage, baked goods retailers, supermarkets and other grocery retailers (except convenience retailers). They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Mitchell Bank's typical SBA loan terms?
Mitchell Bank's SBA 7(a) loans typically feature an average interest rate of 6.01% and average term length of 101 months (approximately 8 years). Loan sizes range from $37K to $1.2M, with an average loan size of $235K.
Do I need a business valuation for a Mitchell Bank SBA loan?
Yes, Mitchell 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 Mitchell Bank compare to other SBA lenders?
Mitchell Bank has originated 26 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 Mitchell Bank lend in?
Mitchell Bank provides SBA 7(a) financing with particularly strong presence in WI. 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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