New Market Bank
SBA 7(a) Lending Profile · FY 2020 analysis
Industry Focus
Top industries served by New Market Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 812930 | Parking Lots and Garages | 16 | $1.2M | $73K | 25.0% |
| 722320 | Caterers | 8 | $4.5M | $557K | 12.5% |
| 561110 | Office Administrative Services | 8 | $200K | $25K | 12.5% |
| 484121 | General Freight Trucking, Long Distance, Truckload | 8 | $896K | $112K | 12.5% |
| 337110 | Wood Kitchen Cabinet and Countertop Manufacturing | 8 | $200K | $25K | 12.5% |
| 332710 | Machine Shops | 8 | $2.7M | $337K | 12.5% |
| 446110 | Pharmacies and Drug Stores | 8 | $2.2M | $275K | 12.5% |
Geographic Distribution
SBA lending activity for New Market Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 64 | $11.8M | 100.0% |
Why Choose New Market Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 64 SBA loans approved, totaling $11.8M in financing
- ✓Industry Expertise: Specialized focus on Parking Lots and Garages, Caterers, Office Administrative Services
- ✓Competitive Terms: Average interest rate of 6.00% with flexible term lengths averaging 62 months
- ✓Loan Range: Loan sizes from $25K to $557K, with an average of $185K
- ✓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 New Market Bank SBA lending
What types of businesses does New Market Bank typically finance?
New Market Bank specializes in SBA 7(a) lending to specific industries including parking lots and garages, caterers, office administrative services, general freight trucking, long distance, truckload. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are New Market Bank's typical SBA loan terms?
New Market Bank's SBA 7(a) loans typically feature an average interest rate of 6.00% and average term length of 62 months (approximately 5 years). Loan sizes range from $25K to $557K, with an average loan size of $185K.
Do I need a business valuation for a New Market Bank SBA loan?
Yes, New Market 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 New Market Bank compare to other SBA lenders?
New Market Bank has originated 64 SBA loans totaling $11.8M 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 New Market Bank lend in?
New Market 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.
Explore Industry Reports →Need a Business Valuation?
Professional valuations are often required for SBA loans over $250,000.
Get your certified valuation from Fair Market Value.