State Bank of Fairmont
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by State Bank of Fairmont · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811192 | Car Washes | 1 | $63K | $63K | 12.5% |
| 713950 | Bowling Centers | 1 | $409K | $409K | 12.5% |
| 621310 | Offices of Chiropractors | 1 | $150K | $150K | 12.5% |
Geographic Distribution
SBA lending activity for State Bank of Fairmont by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 7 | $737K | 87.5% |
| Nebraska (NE) | 1 | $63K | 12.5% |
Why Choose State Bank of Fairmont?
Based on SBA 7(a) lending track record from 1992-2001
- ✓Proven Track Record: 8 SBA loans approved, totaling $800K in financing
- ✓Industry Expertise: Specialized focus on Car Washes, Bowling Centers, Offices of Chiropractors
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 108 months
- ✓Loan Range: Loan sizes from $23K to $409K, with an average of $100K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in MN, NE
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 State Bank of Fairmont SBA lending
What types of businesses does State Bank of Fairmont typically finance?
State Bank of Fairmont specializes in SBA 7(a) lending to specific industries including car washes, bowling centers, offices of chiropractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are State Bank of Fairmont's typical SBA loan terms?
State Bank of Fairmont's SBA 7(a) loans typically feature an average interest rate of — and average term length of 108 months (approximately 9 years). Loan sizes range from $23K to $409K, with an average loan size of $100K.
Do I need a business valuation for a State Bank of Fairmont SBA loan?
Yes, State Bank of Fairmont 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 State Bank of Fairmont compare to other SBA lenders?
State Bank of Fairmont has originated 8 SBA loans totaling $800K 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 State Bank of Fairmont lend in?
State Bank of Fairmont provides SBA 7(a) financing with particularly strong presence in MN, NE. 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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