Rushford State Bank Incorporated
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Rushford State Bank Incorporated · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 484121 | General Freight Trucking, Long-Distance, Truckload | 1 | $18K | $18K | 33.3% |
Geographic Distribution
SBA lending activity for Rushford State Bank Incorporated by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 3 | $174K | 100.0% |
Why Choose Rushford State Bank Incorporated?
Based on SBA 7(a) lending track record from 1997-2013
- ✓Proven Track Record: 3 SBA loans approved, totaling $174K in financing
- ✓Industry Expertise: Specialized focus on General Freight Trucking, Long-Distance, Truckload
- ✓Competitive Terms: Average interest rate of 9.75% with flexible term lengths averaging 132 months
- ✓Loan Range: Loan sizes from $18K to $86K, with an average of $58K
- ✓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 Rushford State Bank Incorporated SBA lending
What types of businesses does Rushford State Bank Incorporated typically finance?
Rushford State Bank Incorporated specializes in SBA 7(a) lending to specific industries including general freight trucking, long-distance, truckload. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Rushford State Bank Incorporated's typical SBA loan terms?
Rushford State Bank Incorporated's SBA 7(a) loans typically feature an average interest rate of 9.75% and average term length of 132 months (approximately 11 years). Loan sizes range from $18K to $86K, with an average loan size of $58K.
Do I need a business valuation for a Rushford State Bank Incorporated SBA loan?
Yes, Rushford State Bank Incorporated 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 Rushford State Bank Incorporated compare to other SBA lenders?
Rushford State Bank Incorporated has originated 3 SBA loans totaling $174K since 1997. 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 Rushford State Bank Incorporated lend in?
Rushford State Bank Incorporated 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.
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