Vermillion State Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Vermillion State Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 561730 | Landscaping Services | 6 | $370K | $62K | 9.4% |
| 713950 | Bowling Centers | 2 | $1.4M | $697K | 3.1% |
| 722511 | Full-Service Restaurants | 2 | $1.1M | $565K | 3.1% |
| 624410 | Child Care Services | 2 | $210K | $105K | 3.1% |
| 713940 | Fitness and Recreational Sports Centers | 2 | $322K | $161K | 3.1% |
| 323111 | Commercial Printing (except Screen and Books) | 1 | $85K | $85K | 1.6% |
| 541511 | Custom Computer Programming Services | 1 | $75K | $75K | 1.6% |
| 611410 | Business and Secretarial Schools | 1 | $100K | $100K | 1.6% |
| 611620 | Sports and Recreation Instruction | 1 | $320K | $320K | 1.6% |
| 713110 | Amusement and Theme Parks | 1 | $351K | $351K | 1.6% |
Geographic Distribution
SBA lending activity for Vermillion State Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 62 | $13.5M | 96.9% |
| New York (NY) | 1 | $150K | 1.6% |
| Iowa (IA) | 1 | $75K | 1.6% |
Why Choose Vermillion State Bank?
Based on SBA 7(a) lending track record from 1991-2016
- ✓Proven Track Record: 64 SBA loans approved, totaling $13.7M in financing
- ✓Industry Expertise: Specialized focus on Landscaping Services, Bowling Centers, Full-Service Restaurants
- ✓Competitive Terms: Average interest rate of 5.95% with flexible term lengths averaging 107 months
- ✓Loan Range: Loan sizes from $15K to $2.0M, with an average of $214K
- ✓Nationwide Reach: Active lending in 3 states, with strong presence in MN, NY, IA
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 Vermillion State Bank SBA lending
What types of businesses does Vermillion State Bank typically finance?
Vermillion State Bank specializes in SBA 7(a) lending to specific industries including landscaping services, bowling centers, full-service restaurants, child care services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Vermillion State Bank's typical SBA loan terms?
Vermillion State Bank's SBA 7(a) loans typically feature an average interest rate of 5.95% and average term length of 107 months (approximately 9 years). Loan sizes range from $15K to $2.0M, with an average loan size of $214K.
Do I need a business valuation for a Vermillion State Bank SBA loan?
Yes, Vermillion 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 Vermillion State Bank compare to other SBA lenders?
Vermillion State Bank has originated 64 SBA loans totaling $13.7M 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 Vermillion State Bank lend in?
Vermillion State Bank provides SBA 7(a) financing with particularly strong presence in MN, NY, IA. 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.
Get your certified valuation from Fair Market Value.