Summit National Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Summit National Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 238210 | Electrical Contractors and Other Wiring Installation Contractors | 1 | $250K | $250K | 9.1% |
| 722511 | Full-Service Restaurants | 1 | $79K | $79K | 9.1% |
Geographic Distribution
SBA lending activity for Summit National Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Idaho (ID) | 2 | $897K | 18.2% |
| Wyoming (WY) | 8 | $834K | 72.7% |
| North Dakota (ND) | 1 | $70K | 9.1% |
Why Choose Summit National Bank?
Based on SBA 7(a) lending track record from 1991-2015
- ✓Proven Track Record: 11 SBA loans approved, totaling $1.8M in financing
- ✓Industry Expertise: Specialized focus on Electrical Contractors and Other Wiring Installation Contractors, Full-Service Restaurants
- ✓Competitive Terms: Average interest rate of 5.97% with flexible term lengths averaging 175 months
- ✓Loan Range: Loan sizes from $33K to $709K, with an average of $164K
- ✓Nationwide Reach: Active lending in 3 states, with strong presence in WY, ID, ND
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 Summit National Bank SBA lending
What types of businesses does Summit National Bank typically finance?
Summit National Bank specializes in SBA 7(a) lending to specific industries including electrical contractors and other wiring installation contractors, full-service restaurants. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Summit National Bank's typical SBA loan terms?
Summit National Bank's SBA 7(a) loans typically feature an average interest rate of 5.97% and average term length of 175 months (approximately 15 years). Loan sizes range from $33K to $709K, with an average loan size of $164K.
Do I need a business valuation for a Summit National Bank SBA loan?
Yes, Summit National Bank 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 Summit National Bank compare to other SBA lenders?
Summit National Bank has originated 11 SBA loans totaling $1.8M 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 Summit National Bank lend in?
Summit National Bank provides SBA 7(a) financing with particularly strong presence in WY, ID, ND. 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.
Get your certified valuation from Fair Market Value.