The First Farmers National Bank of Waurika
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by The First Farmers National Bank of Waurika · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 1 | $30K | $30K | 20.0% |
| 811192 | Car Washes | 1 | $86K | $86K | 20.0% |
| 811310 | Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance | 1 | $57K | $57K | 20.0% |
Geographic Distribution
SBA lending activity for The First Farmers National Bank of Waurika by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Oklahoma (OK) | 5 | $248K | 100.0% |
Why Choose The First Farmers National Bank of Waurika?
Based on SBA 7(a) lending track record from 1991-1999
- ✓Proven Track Record: 5 SBA loans approved, totaling $248K in financing
- ✓Industry Expertise: Specialized focus on Automotive Body, Paint, and Interior Repair and Maintenance, Car Washes, Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 118 months
- ✓Loan Range: Loan sizes from $30K to $86K, with an average of $50K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in OK
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 First Farmers National Bank of Waurika SBA lending
What types of businesses does The First Farmers National Bank of Waurika typically finance?
The First Farmers National Bank of Waurika specializes in SBA 7(a) lending to specific industries including automotive body, paint, and interior repair and maintenance, car washes, commercial and industrial machinery and equipment (except automotive and electronic) repair and maintenance. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are The First Farmers National Bank of Waurika's typical SBA loan terms?
The First Farmers National Bank of Waurika's SBA 7(a) loans typically feature an average interest rate of — and average term length of 118 months (approximately 10 years). Loan sizes range from $30K to $86K, with an average loan size of $50K.
Do I need a business valuation for a The First Farmers National Bank of Waurika SBA loan?
Yes, The First Farmers National Bank of Waurika 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 First Farmers National Bank of Waurika compare to other SBA lenders?
The First Farmers National Bank of Waurika has originated 5 SBA loans totaling $248K 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 The First Farmers National Bank of Waurika lend in?
The First Farmers National Bank of Waurika provides SBA 7(a) financing with particularly strong presence in OK. 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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