The First National Bank of Waterloo
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by The First National Bank of Waterloo
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 812199 | Other Personal Care Services | 24 | $3.8M | $160K | 8.3% |
| 561730 | Landscaping Services | 24 | $2.5M | $105K | 8.3% |
| 722515 | Snack and Nonalcoholic Beverage Bars | 16 | $2.6M | $165K | 5.6% |
| 112920 | Horse and Other Equine Production | 16 | $400K | $25K | 5.6% |
| 448190 | Other Clothing Stores | 16 | $1.8M | $110K | 5.6% |
| 236118 | Residential Remodelers | 16 | $400K | $25K | 5.6% |
| 621310 | Offices of Chiropractors | 16 | $400K | $25K | 5.6% |
| 423990 | Other Miscellaneous Durable Goods Merchant Wholesalers | 16 | $480K | $30K | 5.6% |
| 812310 | Coin-Operated Laundries and Drycleaners | 8 | $200K | $25K | 2.8% |
| 531190 | Lessors of Other Real Estate Property | 8 | $200K | $25K | 2.8% |
Geographic Distribution
SBA lending activity for The First National Bank of Waterloo by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Illinois (IL) | 240 | $18.8M | 83.3% |
| Missouri (MO) | 48 | $5.0M | 16.7% |
Why Choose The First National Bank of Waterloo?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 288 SBA loans approved, totaling $23.9M in financing
- ✓Industry Expertise: Specialized focus on Other Personal Care Services, Landscaping Services, Snack and Nonalcoholic Beverage Bars
- ✓Competitive Terms: Average interest rate of 5.98% with flexible term lengths averaging 88 months
- ✓Loan Range: Loan sizes from $15K to $338K, with an average of $83K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in IL, MO
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 Waterloo SBA lending
What types of businesses does The First National Bank of Waterloo typically finance?
The First National Bank of Waterloo specializes in SBA 7(a) lending to specific industries including other personal care services, landscaping services, snack and nonalcoholic beverage bars, horse and other equine production. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are The First National Bank of Waterloo's typical SBA loan terms?
The First National Bank of Waterloo's SBA 7(a) loans typically feature an average interest rate of 5.98% and average term length of 88 months (approximately 7 years). Loan sizes range from $15K to $338K, with an average loan size of $83K.
Do I need a business valuation for a The First National Bank of Waterloo SBA loan?
Yes, The First National Bank of Waterloo 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 Waterloo compare to other SBA lenders?
The First National Bank of Waterloo has originated 288 SBA loans totaling $23.9M 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 Waterloo lend in?
The First National Bank of Waterloo provides SBA 7(a) financing with particularly strong presence in IL, MO. 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?
Professional valuations are often required for SBA loans over $250,000.
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