Sturgis Bank & Trust Company
SBA 7(a) Lending Profile · FY 2024 analysis
Industry Focus
Top industries served by Sturgis Bank & Trust Company
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 8 | $9.2M | $1.1M | 12.5% |
| 722511 | Full-Service Restaurants | 8 | $800K | $100K | 12.5% |
| 611110 | Elementary and Secondary Schools | 8 | $2.0M | $250K | 12.5% |
| 323111 | Commercial Gravure Printing | 8 | $7.0M | $880K | 12.5% |
| 238130 | Framing Contractors | 8 | $39.6M | $4.9M | 12.5% |
| 812199 | Other Personal Care Services | 8 | $2.4M | $305K | 12.5% |
| 444130 | Hardware Stores | 8 | $5.9M | $734K | 12.5% |
| 623110 | Nursing Care Facilities | 8 | $18.8M | $2.4M | 12.5% |
Geographic Distribution
SBA lending activity for Sturgis Bank & Trust Company by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Michigan (MI) | 64 | $85.7M | 100.0% |
Why Choose Sturgis Bank & Trust Company?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 64 SBA loans approved, totaling $85.7M in financing
- ✓Industry Expertise: Specialized focus on Automotive Body, Paint, and Interior Repair and Maintenance, Full-Service Restaurants, Elementary and Secondary Schools
- ✓Competitive Terms: Average interest rate of 6.31% with flexible term lengths averaging 149 months
- ✓Loan Range: Loan sizes from $100K to $4.9M, with an average of $1.3M
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MI
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 Sturgis Bank & Trust Company SBA lending
What types of businesses does Sturgis Bank & Trust Company typically finance?
Sturgis Bank & Trust Company specializes in SBA 7(a) lending to specific industries including automotive body, paint, and interior repair and maintenance, full-service restaurants, elementary and secondary schools, commercial gravure printing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Sturgis Bank & Trust Company's typical SBA loan terms?
Sturgis Bank & Trust Company's SBA 7(a) loans typically feature an average interest rate of 6.31% and average term length of 149 months (approximately 12 years). Loan sizes range from $100K to $4.9M, with an average loan size of $1.3M.
Do I need a business valuation for a Sturgis Bank & Trust Company SBA loan?
Yes, Sturgis Bank & Trust Company 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 Sturgis Bank & Trust Company compare to other SBA lenders?
Sturgis Bank & Trust Company has originated 64 SBA loans totaling $85.7M 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 Sturgis Bank & Trust Company lend in?
Sturgis Bank & Trust Company provides SBA 7(a) financing with particularly strong presence in MI. 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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