The First National Bank of Groton
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by The First National Bank of Groton · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 713910 | Golf Courses and Country Clubs | 2 | $195K | $98K | 8.3% |
| 722410 | Drinking Places (Alcoholic Beverages) | 1 | $100K | $100K | 4.2% |
| 321920 | Wood Container and Pallet Manufacturing | 1 | $144K | $144K | 4.2% |
| 327991 | Cut Stone and Stone Product Manufacturing | 1 | $208K | $208K | 4.2% |
| 713990 | All Other Amusement and Recreation Industries | 1 | $150K | $150K | 4.2% |
| 541330 | Engineering Services | 1 | $90K | $90K | 4.2% |
| 513210 | Software Publishers | 1 | $425K | $425K | 4.2% |
Geographic Distribution
SBA lending activity for The First National Bank of Groton by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New York (NY) | 24 | $3.7M | 100.0% |
Why Choose The First National Bank of Groton?
Based on SBA 7(a) lending track record from 1992-2005
- ✓Proven Track Record: 24 SBA loans approved, totaling $3.7M in financing
- ✓Industry Expertise: Specialized focus on Golf Courses and Country Clubs, Drinking Places (Alcoholic Beverages), Wood Container and Pallet Manufacturing
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 145 months
- ✓Loan Range: Loan sizes from $46K to $550K, with an average of $155K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in NY
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 Groton SBA lending
What types of businesses does The First National Bank of Groton typically finance?
The First National Bank of Groton specializes in SBA 7(a) lending to specific industries including golf courses and country clubs, drinking places (alcoholic beverages), wood container and pallet manufacturing, cut stone and stone product manufacturing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are The First National Bank of Groton's typical SBA loan terms?
The First National Bank of Groton's SBA 7(a) loans typically feature an average interest rate of — and average term length of 145 months (approximately 12 years). Loan sizes range from $46K to $550K, with an average loan size of $155K.
Do I need a business valuation for a The First National Bank of Groton SBA loan?
Yes, The First National Bank of Groton 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 Groton compare to other SBA lenders?
The First National Bank of Groton has originated 24 SBA loans totaling $3.7M 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 Groton lend in?
The First National Bank of Groton provides SBA 7(a) financing with particularly strong presence in NY. 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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