The First National Bank of Milaca
SBA 7(a) Lending Profile · FY 2025 analysis
Industry Focus
Top industries served by The First National Bank of Milaca
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811111 | General Automotive Repair | 16 | $3.7M | $230K | 14.3% |
| 722330 | Mobile Food Services | 16 | $1.6M | $100K | 14.3% |
| 444140 | Other | 16 | $1.9M | $118K | 14.3% |
| 561730 | Landscaping Services | 16 | $730K | $46K | 14.3% |
| 423450 | Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesal | 16 | $12.7M | $797K | 14.3% |
| 524210 | Insurance Agencies and Brokerages | 8 | $9.8M | $1.2M | 7.1% |
| 722515 | Snack and Nonalcoholic Beverage Bars | 8 | $1.7M | $215K | 7.1% |
| 722513 | Limited-Service Restaurants | 8 | $600K | $75K | 7.1% |
| 238210 | Electrical Contractors | 8 | $2.8M | $350K | 7.1% |
Geographic Distribution
SBA lending activity for The First National Bank of Milaca by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 112 | $35.5M | 100.0% |
Why Choose The First National Bank of Milaca?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 112 SBA loans approved, totaling $35.5M in financing
- ✓Industry Expertise: Specialized focus on General Automotive Repair, Mobile Food Services, Other
- ✓Competitive Terms: Average interest rate of 5.76% with flexible term lengths averaging 101 months
- ✓Loan Range: Loan sizes from $30K to $1.2M, with an average of $317K
- ✓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 Milaca SBA lending
What types of businesses does The First National Bank of Milaca typically finance?
The First National Bank of Milaca specializes in SBA 7(a) lending to specific industries including general automotive repair, mobile food services, other, landscaping services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are The First National Bank of Milaca's typical SBA loan terms?
The First National Bank of Milaca's SBA 7(a) loans typically feature an average interest rate of 5.76% and average term length of 101 months (approximately 8 years). Loan sizes range from $30K to $1.2M, with an average loan size of $317K.
Do I need a business valuation for a The First National Bank of Milaca SBA loan?
Yes, The First National Bank of Milaca 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 Milaca compare to other SBA lenders?
The First National Bank of Milaca has originated 112 SBA loans totaling $35.5M 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 First National Bank of Milaca lend in?
The First National Bank of Milaca 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.
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