Vergas State Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Vergas State Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 337214 | Office Furniture (except Wood) Manufacturing | 1 | $150K | $150K | 50.0% |
Geographic Distribution
SBA lending activity for Vergas State Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 2 | $287K | 100.0% |
Why Choose Vergas State Bank?
Based on SBA 7(a) lending track record from 2002-2002
- ✓Proven Track Record: 2 SBA loans approved, totaling $287K in financing
- ✓Industry Expertise: Specialized focus on Office Furniture (except Wood) Manufacturing
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 180 months
- ✓Loan Range: Loan sizes from $137K to $150K, with an average of $143K
- ✓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 Vergas State Bank SBA lending
What types of businesses does Vergas State Bank typically finance?
Vergas State Bank specializes in SBA 7(a) lending to specific industries including office furniture (except wood) manufacturing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Vergas State Bank's typical SBA loan terms?
Vergas State Bank's SBA 7(a) loans typically feature an average interest rate of — and average term length of 180 months (approximately 15 years). Loan sizes range from $137K to $150K, with an average loan size of $143K.
Do I need a business valuation for a Vergas State Bank SBA loan?
Yes, Vergas 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 Vergas State Bank compare to other SBA lenders?
Vergas State Bank has originated 2 SBA loans totaling $287K since 2002. 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 Vergas State Bank lend in?
Vergas State Bank 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.
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?
Certified valuations are often required for SBA loans over $250,000.
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