Peoples State Bank of Velva
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Peoples State Bank of Velva · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 1 | $523K | $523K | 14.3% |
| 333511 | Industrial Mold Manufacturing | 1 | $486K | $486K | 14.3% |
| 713950 | Bowling Centers | 1 | $65K | $65K | 14.3% |
Geographic Distribution
SBA lending activity for Peoples State Bank of Velva by state
| State | Loans | Volume | Share |
|---|---|---|---|
| North Dakota (ND) | 7 | $1.5M | 100.0% |
Why Choose Peoples State Bank of Velva?
Based on SBA 7(a) lending track record from 1998-2014
- ✓Proven Track Record: 7 SBA loans approved, totaling $1.5M in financing
- ✓Industry Expertise: Specialized focus on Automotive Body, Paint, and Interior Repair and Maintenance, Industrial Mold Manufacturing, Bowling Centers
- ✓Competitive Terms: Average interest rate of 5.88% with flexible term lengths averaging 129 months
- ✓Loan Range: Loan sizes from $6K to $523K, with an average of $221K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in ND
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 Velva SBA lending
What types of businesses does Peoples State Bank of Velva typically finance?
Peoples State Bank of Velva specializes in SBA 7(a) lending to specific industries including automotive body, paint, and interior repair and maintenance, industrial mold manufacturing, bowling centers. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Peoples State Bank of Velva's typical SBA loan terms?
Peoples State Bank of Velva's SBA 7(a) loans typically feature an average interest rate of 5.88% and average term length of 129 months (approximately 11 years). Loan sizes range from $6K to $523K, with an average loan size of $221K.
Do I need a business valuation for a Peoples State Bank of Velva SBA loan?
Yes, Peoples State Bank of Velva 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 Velva compare to other SBA lenders?
Peoples State Bank of Velva has originated 7 SBA loans totaling $1.5M since 1998. 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 Velva lend in?
Peoples State Bank of Velva provides SBA 7(a) financing with particularly strong presence in ND. 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.
Get your certified valuation from Fair Market Value.