The First Western Bank Sturgis
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by The First Western Bank Sturgis · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 812310 | Coin-Operated Laundries and Drycleaners | 1 | $53K | $53K | 12.5% |
| 811111 | General Automotive Repair | 1 | $76K | $76K | 12.5% |
Geographic Distribution
SBA lending activity for The First Western Bank Sturgis by state
| State | Loans | Volume | Share |
|---|---|---|---|
| South Dakota (SD) | 8 | $1.0M | 100.0% |
Why Choose The First Western Bank Sturgis?
Based on SBA 7(a) lending track record from 1991-2005
- ✓Proven Track Record: 8 SBA loans approved, totaling $1.0M in financing
- ✓Industry Expertise: Specialized focus on Coin-Operated Laundries and Drycleaners, General Automotive Repair
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 98 months
- ✓Loan Range: Loan sizes from $14K to $342K, with an average of $129K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in SD
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 Western Bank Sturgis SBA lending
What types of businesses does The First Western Bank Sturgis typically finance?
The First Western Bank Sturgis specializes in SBA 7(a) lending to specific industries including coin-operated laundries and drycleaners, general automotive repair. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are The First Western Bank Sturgis's typical SBA loan terms?
The First Western Bank Sturgis's SBA 7(a) loans typically feature an average interest rate of — and average term length of 98 months (approximately 8 years). Loan sizes range from $14K to $342K, with an average loan size of $129K.
Do I need a business valuation for a The First Western Bank Sturgis SBA loan?
Yes, The First Western Bank Sturgis 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 Western Bank Sturgis compare to other SBA lenders?
The First Western Bank Sturgis has originated 8 SBA loans totaling $1.0M since 1991. 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 Western Bank Sturgis lend in?
The First Western Bank Sturgis provides SBA 7(a) financing with particularly strong presence in SD. 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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