Randall State Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Randall State Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 333415 | Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing | 1 | $80K | $80K | 11.1% |
| 321999 | All Other Miscellaneous Wood Product Manufacturing | 1 | $225K | $225K | 11.1% |
| 812310 | Coin-Operated Laundries and Drycleaners | 1 | $100K | $100K | 11.1% |
| 812112 | Beauty Salons | 1 | $25K | $25K | 11.1% |
| 722515 | Snack and Nonalcoholic Beverage Bars | 1 | $149K | $149K | 11.1% |
| 445110 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 1 | $225K | $225K | 11.1% |
| 811111 | General Automotive Repair | 1 | $35K | $35K | 11.1% |
Geographic Distribution
SBA lending activity for Randall State Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 9 | $1.3M | 100.0% |
Why Choose Randall State Bank?
Based on SBA 7(a) lending track record from 1992-2020
- ✓Proven Track Record: 9 SBA loans approved, totaling $1.3M in financing
- ✓Industry Expertise: Specialized focus on Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing, All Other Miscellaneous Wood Product Manufacturing, Coin-Operated Laundries and Drycleaners
- ✓Competitive Terms: Average interest rate of 5.94% with flexible term lengths averaging 142 months
- ✓Loan Range: Loan sizes from $25K to $406K, with an average of $141K
- ✓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 Randall State Bank SBA lending
What types of businesses does Randall State Bank typically finance?
Randall State Bank specializes in SBA 7(a) lending to specific industries including air-conditioning and warm air heating equipment and commercial and industrial refrigeration equipment manufacturing, all other miscellaneous wood product manufacturing, coin-operated laundries and drycleaners, beauty salons. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Randall State Bank's typical SBA loan terms?
Randall State Bank's SBA 7(a) loans typically feature an average interest rate of 5.94% and average term length of 142 months (approximately 12 years). Loan sizes range from $25K to $406K, with an average loan size of $141K.
Do I need a business valuation for a Randall State Bank SBA loan?
Yes, Randall State 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 Randall State Bank compare to other SBA lenders?
Randall State Bank has originated 9 SBA loans totaling $1.3M since 1992. 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 Randall State Bank lend in?
Randall State 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?
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