Is First National Bank a good SBA lender?

First National Bank has funded 959 SBA loans totaling $213.3M in volume across 22 states, with an average loan size of $222K. The lender's default rate is 931.00%. Whether they are the right fit depends on your deal profile — loan size, industry, geography, and borrower credit. PeerSense matches your specific deal to First National Bank or one of 897+ alternatives based on closing probability + pricing.

What is the average SBA loan size at First National Bank?

The average SBA loan size at First National Bank is $222K, with a range from $4K to $4.0M. This profile suggests they are best suited for borrowers seeking mid-market business acquisitions and equipment financing.

What states does First National Bank lend in?

First National Bank actively lends across 22 states. Their highest-volume state is South Dakota. Other top states include Minnesota, New Mexico, Colorado. Borrower geography matters: a lender's state penetration affects underwriting familiarity, valuation comps, and turnaround speed.

Does First National Bank fund franchise loans?

Yes — First National Bank has funded SBA franchise loans across multiple brands. Their highest-volume franchise concept is SUBWAY SANDWICH SHOP, followed by COAST-TO-COAST STORE, COLD STONE CREAMERY, INC., TRUE VALUE HARDWARE. Lender-franchise familiarity matters: lenders that have closed multiple loans for a brand know the FDD inside-out, which speeds underwriting + reduces re-trade risk.

What industries does First National Bank prefer?

First National Bank's highest-volume SBA industry by NAICS code is Limited-Service Restaurants. Other active sectors: Building Material & Garden, Food & Beverage Stores, Motor Vehicle Dealers. Borrower industry matters: matching your deal to a lender with strong recent volume in your NAICS reduces underwriting friction and improves close-rate odds.

How does PeerSense match deals to First National Bank?

PeerSense matches your specific SBA deal to First National Bank based on five factors: deal size vs lender's average + range, your industry vs lender's NAICS history, your state vs lender's geographic penetration, your franchise brand (if applicable) vs lender's brand history, and your credit + experience profile vs lender's known underwriting box. We don't sell leads — we curate fit. No retainer; lender pays referral fee at closing.

SBA LenderSouth DakotaActiveMid-Market

First National Bank

SBA lender based in South Dakota serving 22 states and 78 industries

Quick Answer

First National Bank has funded 959 SBA loans across 22 states and 78 industries. Their average loan size is $222K. Whether they are the right SBA lender for your deal depends on size, industry, geography, and credit profile — PeerSense matches your deal against First National Bank and 897+ alternatives based on closing probability + pricing.

Geographic Reach

22 States

Regional focus

Industry Coverage

78 Industries

Diverse lending portfolio

Lending Activity

Active

Mid-Market focus

Top Lending States

South Dakota#1

Minnesota#2

New Mexico#3

Colorado#4

Iowa#5

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Industry Focus Areas

Limited-Service Restaurants

NAICS 722

Building Material & Garden

NAICS 444

Food & Beverage Stores

NAICS 445

Motor Vehicle Dealers

Why borrowers choose First National Bank

First National Bank is best suited for borrowers seeking mid-market business acquisitions and franchise build-outs, with an average SBA loan of $222K. The lender's deepest industry experience is in Limited-Service Restaurants, and their highest-volume state is South Dakota. With 959 SBA loans funded across 22 states, they operate as a regional specialist anchored in South Dakota. Their portfolio default rate is 931.00%. If your deal profile aligns with their underwriting box, this lender is worth a quote — PeerSense matches your specific deal against First National Bank and 897+ alternatives.

Recent SBA Activity at First National Bank

Franchise lending: First National Bank has funded SBA loans for multiple franchise concepts, with the highest volume in SUBWAY SANDWICH SHOP, COAST-TO-COAST STORE, and COLD STONE CREAMERY, INC.. Lender-franchise familiarity reduces underwriting friction: brands the lender already knows clear faster and re-trade less.

Industry concentration: The lender's highest-volume SBA industries are Limited-Service Restaurants, Building Material & Garden, and Food & Beverage Stores. Borrowers in these NAICS sectors typically see better terms and faster approvals.

Geographic concentration: Top markets are South Dakota, Minnesota, New Mexico, Colorado, and Iowa. Lenders typically underwrite faster in states where they already have closing comps.

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Compare First National Bank to Similar SBA Lenders

Other SBA lenders headquartered in South Dakota with similar deal-size profiles. Borrowers should always compare 3–5 lenders before committing.

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Wells Fargo Bank National Association

128,156 loans$262K avg55 states

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Citibank, N.A.

9,042 loans$135K avg30 states

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First Bank & Trust

553 loans$386K avg7 states

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Black Hills FCU

355 loans$134K avg4 states

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CorTrust Bank National Association

335 loans$205K avg6 states

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About First National Bank SBA Lending

First National Bank is an SBA lender headquartered in South Dakota. PeerSense tracks this lender's SBA lending activity, including approval trends, geographic coverage, and industry specializations.

First National Bank serves borrowers across 22 states and 78 industry sectors with a regional lending focus. To find out whether First National Bank is a good fit for your specific deal, reach out to PeerSense for a free lender match.

PeerSense maintains detailed performance data on hundreds of SBA lenders to help borrowers and brokers identify the right capital source. Rather than spending weeks researching lenders on your own, book a free call and let our team match you with lenders who have a proven track record in your industry and geography.

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