Upper Peninsula State Bank
SBA 7(a) Lending Profile · FY 2025 analysis
Industry Focus
Top industries served by Upper Peninsula State Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 16 | $3.4M | $214K | 40.0% |
| 811111 | General Automotive Repair | 8 | $5.2M | $648K | 20.0% |
| 311811 | Retail Bakeries | 8 | $2.3M | $289K | 20.0% |
| 339995 | Burial Casket Manufacturing | 8 | $4.5M | $560K | 20.0% |
Geographic Distribution
SBA lending activity for Upper Peninsula State Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Michigan (MI) | 40 | $15.4M | 100.0% |
Why Choose Upper Peninsula State Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 40 SBA loans approved, totaling $15.4M in financing
- ✓Industry Expertise: Specialized focus on Plumbing, Heating, and Air-Conditioning Contractors, General Automotive Repair, Retail Bakeries
- ✓Competitive Terms: Average interest rate of 6.84% with flexible term lengths averaging 106 months
- ✓Loan Range: Loan sizes from $40K to $648K, with an average of $385K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MI
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 Upper Peninsula State Bank SBA lending
What types of businesses does Upper Peninsula State Bank typically finance?
Upper Peninsula State Bank specializes in SBA 7(a) lending to specific industries including plumbing, heating, and air-conditioning contractors, general automotive repair, retail bakeries, burial casket manufacturing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Upper Peninsula State Bank's typical SBA loan terms?
Upper Peninsula State Bank's SBA 7(a) loans typically feature an average interest rate of 6.84% and average term length of 106 months (approximately 9 years). Loan sizes range from $40K to $648K, with an average loan size of $385K.
Do I need a business valuation for a Upper Peninsula State Bank SBA loan?
Yes, Upper Peninsula State Bank 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 Upper Peninsula State Bank compare to other SBA lenders?
Upper Peninsula State Bank has originated 40 SBA loans totaling $15.4M 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 Upper Peninsula State Bank lend in?
Upper Peninsula State Bank provides SBA 7(a) financing with particularly strong presence in MI. 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.
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Professional valuations are often required for SBA loans over $250,000.
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