The First National Bank of Bagley
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by The First National Bank of Bagley · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811111 | General Automotive Repair | 2 | $149K | $74K | 7.7% |
| 811192 | Car Washes | 1 | $94K | $94K | 3.8% |
| 722410 | Drinking Places (Alcoholic Beverages) | 1 | $23K | $23K | 3.8% |
| 541512 | Computer Systems Design Services | 1 | $55K | $55K | 3.8% |
Geographic Distribution
SBA lending activity for The First National Bank of Bagley by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 26 | $2.9M | 100.0% |
Why Choose The First National Bank of Bagley?
Based on SBA 7(a) lending track record from 1992-2001
- ✓Proven Track Record: 26 SBA loans approved, totaling $2.9M in financing
- ✓Industry Expertise: Specialized focus on General Automotive Repair, Car Washes, Drinking Places (Alcoholic Beverages)
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 122 months
- ✓Loan Range: Loan sizes from $16K to $550K, with an average of $112K
- ✓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 The First National Bank of Bagley SBA lending
What types of businesses does The First National Bank of Bagley typically finance?
The First National Bank of Bagley specializes in SBA 7(a) lending to specific industries including general automotive repair, car washes, drinking places (alcoholic beverages), computer systems design services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are The First National Bank of Bagley's typical SBA loan terms?
The First National Bank of Bagley's SBA 7(a) loans typically feature an average interest rate of — and average term length of 122 months (approximately 10 years). Loan sizes range from $16K to $550K, with an average loan size of $112K.
Do I need a business valuation for a The First National Bank of Bagley SBA loan?
Yes, The First National Bank of Bagley 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 National Bank of Bagley compare to other SBA lenders?
The First National Bank of Bagley has originated 26 SBA loans totaling $2.9M since 1992. 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 National Bank of Bagley lend in?
The First National Bank of Bagley 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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