Security First National Bank of Hugo
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Security First National Bank of Hugo · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 621210 | Offices of Dentists | 3 | $519K | $173K | 5.1% |
| 721191 | Bed-and-Breakfast Inns | 3 | $403K | $134K | 5.1% |
| 812320 | Drycleaning and Laundry Services (except Coin-Operated) | 2 | $263K | $131K | 3.4% |
| 336212 | Truck Trailer Manufacturing | 1 | $20K | $20K | 1.7% |
| 112320 | Broilers and Other Meat Type Chicken Production | 1 | $100K | $100K | 1.7% |
| 721310 | Rooming and Boarding Houses, Dormitories, and Workers' Camps | 1 | $26K | $26K | 1.7% |
| 721214 | Recreational and Vacation Camps (except Campgrounds) | 1 | $270K | $270K | 1.7% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 1 | $230K | $230K | 1.7% |
| 541940 | Veterinary Services | 1 | $88K | $88K | 1.7% |
| 113310 | Logging | 1 | $1.6M | $1.6M | 1.7% |
Geographic Distribution
SBA lending activity for Security First National Bank of Hugo by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Oklahoma (OK) | 58 | $8.5M | 98.3% |
| Texas (TX) | 1 | $52K | 1.7% |
Why Choose Security First National Bank of Hugo?
Based on SBA 7(a) lending track record from 1991-2013
- ✓Proven Track Record: 59 SBA loans approved, totaling $8.6M in financing
- ✓Industry Expertise: Specialized focus on Offices of Dentists, Bed-and-Breakfast Inns, Drycleaning and Laundry Services (except Coin-Operated)
- ✓Competitive Terms: Average interest rate of 6.00% with flexible term lengths averaging 118 months
- ✓Loan Range: Loan sizes from $11K to $1.6M, with an average of $145K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in OK, TX
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 Security First National Bank of Hugo SBA lending
What types of businesses does Security First National Bank of Hugo typically finance?
Security First National Bank of Hugo specializes in SBA 7(a) lending to specific industries including offices of dentists, bed-and-breakfast inns, drycleaning and laundry services (except coin-operated), truck trailer manufacturing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Security First National Bank of Hugo's typical SBA loan terms?
Security First National Bank of Hugo's SBA 7(a) loans typically feature an average interest rate of 6.00% and average term length of 118 months (approximately 10 years). Loan sizes range from $11K to $1.6M, with an average loan size of $145K.
Do I need a business valuation for a Security First National Bank of Hugo SBA loan?
Yes, Security First National Bank of Hugo 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 Security First National Bank of Hugo compare to other SBA lenders?
Security First National Bank of Hugo has originated 59 SBA loans totaling $8.6M since 1991. 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 Security First National Bank of Hugo lend in?
Security First National Bank of Hugo provides SBA 7(a) financing with particularly strong presence in OK, TX. 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.
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