The Farmers National Bank of Canfield
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by The Farmers National Bank of Canfield
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811490 | Other Personal and Household Goods Repair and Maintenance | 16 | $5.4M | $335K | 15.4% |
| 332999 | All Other Miscellaneous Fabricated Metal Product Manufacturing | 16 | $5.3M | $330K | 15.4% |
| 531190 | Lessors of Other Real Estate Property | 8 | $2.2M | $280K | 7.7% |
| 541614 | Process, Physical Distribution, and Logistics Consulting Services | 8 | $2.8M | $350K | 7.7% |
| 812990 | All Other Personal Services | 8 | $5.0M | $622K | 7.7% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 8 | $2.8M | $350K | 7.7% |
| 484230 | Specialized Freight (except Used Goods) Trucking, Long-Distance | 8 | $2.2M | $275K | 7.7% |
| 238310 | Drywall and Insulation Contractors | 8 | $1.8M | $225K | 7.7% |
| 722511 | Full-Service Restaurants | 8 | $1.2M | $150K | 7.7% |
| 621330 | Offices of Mental Health Practitioners (except Physicians) | 8 | $1.0M | $128K | 7.7% |
Geographic Distribution
SBA lending activity for The Farmers National Bank of Canfield by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Ohio (OH) | 88 | $27.9M | 84.6% |
| Pennsylvania (PA) | 8 | $2.8M | 7.7% |
| Texas (TX) | 8 | $1.8M | 7.7% |
Why Choose The Farmers National Bank of Canfield?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 104 SBA loans approved, totaling $32.5M in financing
- ✓Industry Expertise: Specialized focus on Other Personal and Household Goods Repair and Maintenance, All Other Miscellaneous Fabricated Metal Product Manufacturing, Lessors of Other Real Estate Property
- ✓Competitive Terms: Average interest rate of 6.33% with flexible term lengths averaging 120 months
- ✓Loan Range: Loan sizes from $100K to $622K, with an average of $312K
- ✓Nationwide Reach: Active lending in 3 states, with strong presence in OH, TX, PA
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 The Farmers National Bank of Canfield SBA lending
What types of businesses does The Farmers National Bank of Canfield typically finance?
The Farmers National Bank of Canfield specializes in SBA 7(a) lending to specific industries including other personal and household goods repair and maintenance, all other miscellaneous fabricated metal product manufacturing, lessors of other real estate property, process, physical distribution, and logistics consulting services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are The Farmers National Bank of Canfield's typical SBA loan terms?
The Farmers National Bank of Canfield's SBA 7(a) loans typically feature an average interest rate of 6.33% and average term length of 120 months (approximately 10 years). Loan sizes range from $100K to $622K, with an average loan size of $312K.
Do I need a business valuation for a The Farmers National Bank of Canfield SBA loan?
Yes, The Farmers National Bank of Canfield 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 The Farmers National Bank of Canfield compare to other SBA lenders?
The Farmers National Bank of Canfield has originated 104 SBA loans totaling $32.5M 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 The Farmers National Bank of Canfield lend in?
The Farmers National Bank of Canfield provides SBA 7(a) financing with particularly strong presence in OH, TX, PA. 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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Professional valuations are often required for SBA loans over $250,000.
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