The First State Bank of Red Wing
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by The First State Bank of Red Wing
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 8 | $7.9M | $994K | 100.0% |
Geographic Distribution
SBA lending activity for The First State Bank of Red Wing by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 8 | $7.9M | 100.0% |
Why Choose The First State Bank of Red Wing?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 8 SBA loans approved, totaling $7.9M in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants
- ✓Competitive Terms: Average interest rate of 4.75% with flexible term lengths averaging 243 months
- ✓Loan Range: Loan sizes from $994K to $994K, with an average of $994K
- ✓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 State Bank of Red Wing SBA lending
What types of businesses does The First State Bank of Red Wing typically finance?
The First State Bank of Red Wing specializes in SBA 7(a) lending to specific industries including full-service restaurants. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are The First State Bank of Red Wing's typical SBA loan terms?
The First State Bank of Red Wing's SBA 7(a) loans typically feature an average interest rate of 4.75% and average term length of 243 months (approximately 20 years). Loan sizes range from $994K to $994K, with an average loan size of $994K.
Do I need a business valuation for a The First State Bank of Red Wing SBA loan?
Yes, The First State Bank of Red Wing 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 State Bank of Red Wing compare to other SBA lenders?
The First State Bank of Red Wing has originated 8 SBA loans totaling $7.9M 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 State Bank of Red Wing lend in?
The First State Bank of Red Wing 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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Explore Industry Reports →Need a Business Valuation?
Professional valuations are often required for SBA loans over $250,000.
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