State Bank of New Richland
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by State Bank of New Richland · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 112210 | Hog and Pig Farming | 2 | $1.7M | $850K | 40.0% |
Geographic Distribution
SBA lending activity for State Bank of New Richland by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 5 | $2.0M | 100.0% |
Why Choose State Bank of New Richland?
Based on SBA 7(a) lending track record from 1993-2011
- ✓Proven Track Record: 5 SBA loans approved, totaling $2.0M in financing
- ✓Industry Expertise: Specialized focus on Hog and Pig Farming
- ✓Competitive Terms: Average interest rate of 5.38% with flexible term lengths averaging 119 months
- ✓Loan Range: Loan sizes from $15K to $1.2M, with an average of $398K
- ✓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 State Bank of New Richland SBA lending
What types of businesses does State Bank of New Richland typically finance?
State Bank of New Richland specializes in SBA 7(a) lending to specific industries including hog and pig farming. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are State Bank of New Richland's typical SBA loan terms?
State Bank of New Richland's SBA 7(a) loans typically feature an average interest rate of 5.38% and average term length of 119 months (approximately 10 years). Loan sizes range from $15K to $1.2M, with an average loan size of $398K.
Do I need a business valuation for a State Bank of New Richland SBA loan?
Yes, State Bank of New Richland 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 New Richland compare to other SBA lenders?
State Bank of New Richland has originated 5 SBA loans totaling $2.0M 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 State Bank of New Richland lend in?
State Bank of New Richland 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.
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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