Richton Bank & Trust Company
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Richton Bank & Trust Company · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 112320 | Broilers and Other Meat Type Chicken Production | 3 | $2.8M | $928K | 37.5% |
| 811310 | Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance | 1 | $49K | $49K | 12.5% |
| 621210 | Offices of Dentists | 1 | $200K | $200K | 12.5% |
Geographic Distribution
SBA lending activity for Richton Bank & Trust Company by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Mississippi (MS) | 8 | $3.2M | 100.0% |
Why Choose Richton Bank & Trust Company?
Based on SBA 7(a) lending track record from 1993-2010
- ✓Proven Track Record: 8 SBA loans approved, totaling $3.2M in financing
- ✓Industry Expertise: Specialized focus on Broilers and Other Meat Type Chicken Production, Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance, Offices of Dentists
- ✓Competitive Terms: Average interest rate of 6.00% with flexible term lengths averaging 104 months
- ✓Loan Range: Loan sizes from $36K to $1.2M, with an average of $405K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MS
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 Richton Bank & Trust Company SBA lending
What types of businesses does Richton Bank & Trust Company typically finance?
Richton Bank & Trust Company specializes in SBA 7(a) lending to specific industries including broilers and other meat type chicken production, commercial and industrial machinery and equipment (except automotive and electronic) repair and maintenance, offices of dentists. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Richton Bank & Trust Company's typical SBA loan terms?
Richton Bank & Trust Company's SBA 7(a) loans typically feature an average interest rate of 6.00% and average term length of 104 months (approximately 9 years). Loan sizes range from $36K to $1.2M, with an average loan size of $405K.
Do I need a business valuation for a Richton Bank & Trust Company SBA loan?
Yes, Richton Bank & Trust Company 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 Richton Bank & Trust Company compare to other SBA lenders?
Richton Bank & Trust Company has originated 8 SBA loans totaling $3.2M since 1993. 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 Richton Bank & Trust Company lend in?
Richton Bank & Trust Company provides SBA 7(a) financing with particularly strong presence in MS. 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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