Peoples State Bank of Munising
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by Peoples State Bank of Munising
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 721110 | Hotels (except Casino Hotels) and Motels | 8 | $40.0M | $5.0M | 100.0% |
Geographic Distribution
SBA lending activity for Peoples State Bank of Munising by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Michigan (MI) | 8 | $40.0M | 100.0% |
Why Choose Peoples State Bank of Munising?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 8 SBA loans approved, totaling $40.0M in financing
- ✓Industry Expertise: Specialized focus on Hotels (except Casino Hotels) and Motels
- ✓Competitive Terms: Average interest rate of 6.50% with flexible term lengths averaging 300 months
- ✓Loan Range: Loan sizes from $5.0M to $5.0M, with an average of $5.0M
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MI
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 Peoples State Bank of Munising SBA lending
What types of businesses does Peoples State Bank of Munising typically finance?
Peoples State Bank of Munising specializes in SBA 7(a) lending to specific industries including hotels (except casino hotels) and motels. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Peoples State Bank of Munising's typical SBA loan terms?
Peoples State Bank of Munising's SBA 7(a) loans typically feature an average interest rate of 6.50% and average term length of 300 months (approximately 25 years). Loan sizes range from $5.0M to $5.0M, with an average loan size of $5.0M.
Do I need a business valuation for a Peoples State Bank of Munising SBA loan?
Yes, Peoples State Bank of Munising 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 Peoples State Bank of Munising compare to other SBA lenders?
Peoples State Bank of Munising has originated 8 SBA loans totaling $40.0M 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 Peoples State Bank of Munising lend in?
Peoples State Bank of Munising provides SBA 7(a) financing with particularly strong presence in MI. 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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Professional valuations are often required for SBA loans over $250,000.
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