Security State Bank of Hibbing
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Security State Bank of Hibbing
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 332999 | All Other Miscellaneous Fabricated Metal Product Manufacturing | 8 | $16.0M | $2.0M | 100.0% |
Geographic Distribution
SBA lending activity for Security State Bank of Hibbing by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 8 | $16.0M | 100.0% |
Why Choose Security State Bank of Hibbing?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 8 SBA loans approved, totaling $16.0M in financing
- ✓Industry Expertise: Specialized focus on All Other Miscellaneous Fabricated Metal Product Manufacturing
- ✓Competitive Terms: Average interest rate of 4.55% with flexible term lengths averaging 120 months
- ✓Loan Range: Loan sizes from $2.0M to $2.0M, with an average of $2.0M
- ✓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 Security State Bank of Hibbing SBA lending
What types of businesses does Security State Bank of Hibbing typically finance?
Security State Bank of Hibbing specializes in SBA 7(a) lending to specific industries including all other miscellaneous fabricated metal product manufacturing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Security State Bank of Hibbing's typical SBA loan terms?
Security State Bank of Hibbing's SBA 7(a) loans typically feature an average interest rate of 4.55% and average term length of 120 months (approximately 10 years). Loan sizes range from $2.0M to $2.0M, with an average loan size of $2.0M.
Do I need a business valuation for a Security State Bank of Hibbing SBA loan?
Yes, Security State Bank of Hibbing 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 State Bank of Hibbing compare to other SBA lenders?
Security State Bank of Hibbing has originated 8 SBA loans totaling $16.0M since 2020. 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 State Bank of Hibbing lend in?
Security State Bank of Hibbing 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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Explore Industry Reports →Need a Business Valuation?
Professional valuations are often required for SBA loans over $250,000.
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