Welcome State Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Welcome State Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 311119 | Other Animal Food Manufacturing | 6 | $910K | $152K | 9.4% |
| 111150 | Corn Farming | 6 | $492K | $82K | 9.4% |
| 112210 | Hog and Pig Farming | 5 | $502K | $100K | 7.8% |
| 238910 | Site Preparation Contractors | 3 | $348K | $116K | 4.7% |
| 621111 | Offices of Physicians (except Mental Health Specialists) | 3 | $500K | $167K | 4.7% |
| 111110 | Soybean Farming | 2 | $91K | $46K | 3.1% |
| 561730 | Landscaping Services | 2 | $81K | $41K | 3.1% |
| 238350 | Finish Carpentry Contractors | 2 | $109K | $55K | 3.1% |
| 333415 | Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing | 2 | $306K | $153K | 3.1% |
| 524210 | Insurance Agencies and Brokerages | 2 | $122K | $61K | 3.1% |
Geographic Distribution
SBA lending activity for Welcome State Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 63 | $7.0M | 98.4% |
| Texas (TX) | 1 | $80K | 1.6% |
Why Choose Welcome State Bank?
Based on SBA 7(a) lending track record from 1994-2024
- ✓Proven Track Record: 64 SBA loans approved, totaling $7.1M in financing
- ✓Industry Expertise: Specialized focus on Other Animal Food Manufacturing, Corn Farming, Hog and Pig Farming
- ✓Competitive Terms: Average interest rate of 5.66% with flexible term lengths averaging 109 months
- ✓Loan Range: Loan sizes from $4K to $500K, with an average of $111K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in MN, TX
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 Welcome State Bank SBA lending
What types of businesses does Welcome State Bank typically finance?
Welcome State Bank specializes in SBA 7(a) lending to specific industries including other animal food manufacturing, corn farming, hog and pig farming, site preparation contractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Welcome State Bank's typical SBA loan terms?
Welcome State Bank's SBA 7(a) loans typically feature an average interest rate of 5.66% and average term length of 109 months (approximately 9 years). Loan sizes range from $4K to $500K, with an average loan size of $111K.
Do I need a business valuation for a Welcome State Bank SBA loan?
Yes, Welcome 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 Welcome State Bank compare to other SBA lenders?
Welcome State Bank has originated 64 SBA loans totaling $7.1M since 1994. 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 Welcome State Bank lend in?
Welcome State Bank provides SBA 7(a) financing with particularly strong presence in MN, TX. 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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