Is First Resource Bank a good SBA lender?

First Resource Bank has funded 327 SBA loans totaling $140.1M in volume across 10 states, with an average loan size of $428K. The lender's default rate is 1845.00%. 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 Resource Bank or one of 897+ alternatives based on closing probability + pricing.

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

The average SBA loan size at First Resource Bank is $428K, with a range from $10K to $5.0M. This profile suggests they are best suited for borrowers seeking mid-market business acquisitions and equipment financing.

What states does First Resource Bank lend in?

First Resource Bank actively lends across 10 states. Their highest-volume state is Minnesota. Other top states include Wisconsin, Pennsylvania, New Jersey. Borrower geography matters: a lender's state penetration affects underwriting familiarity, valuation comps, and turnaround speed.

Does First Resource Bank fund franchise loans?

Yes — First Resource Bank has funded SBA franchise loans across multiple brands. Their highest-volume franchise concept is SAMARI SAMS TERIYAKI GRILL, followed by MGM LIQUOR, CULVER'S FROZEN CUSTARD, 1-Tom-Plumber. 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 Resource Bank prefer?

First Resource Bank's highest-volume SBA industry by NAICS code is Limited-Service Restaurants. Other active sectors: Specialty Trade Contractors, Professional/Technical Services, Repair & Maintenance. 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 Resource Bank?

PeerSense matches your specific SBA deal to First Resource 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 LenderMinnesotaActiveMid-Market

First Resource Bank

SBA lender based in Minnesota serving 10 states and 53 industries

Quick Answer

First Resource Bank has funded 327 SBA loans across 10 states and 53 industries. Their average loan size is $428K. Whether they are the right SBA lender for your deal depends on size, industry, geography, and credit profile — PeerSense matches your deal against First Resource Bank and 897+ alternatives based on closing probability + pricing.

Geographic Reach

10 States

Regional focus

Industry Coverage

53 Industries

Diverse lending portfolio

Lending Activity

Active

Mid-Market focus

Top Lending States

Minnesota#1

Wisconsin#2

Pennsylvania#3

New Jersey#4

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Industry Focus Areas

Limited-Service Restaurants

NAICS 722

Specialty Trade Contractors

NAICS 238

Professional/Technical Services

NAICS 541

Repair & Maintenance

NAICS 811

Amusement & Recreation

NAICS 713

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Why borrowers choose First Resource Bank

First Resource Bank is best suited for borrowers seeking mid-market business acquisitions and franchise build-outs, with an average SBA loan of $428K. The lender's deepest industry experience is in Limited-Service Restaurants, and their highest-volume state is Minnesota. With 327 SBA loans funded across 10 states, they operate as a regional specialist anchored in Minnesota. Their portfolio default rate is 1845.00%. If your deal profile aligns with their underwriting box, this lender is worth a quote — PeerSense matches your specific deal against First Resource Bank and 897+ alternatives.

Recent SBA Activity at First Resource Bank

Franchise lending: First Resource Bank has funded SBA loans for multiple franchise concepts, with the highest volume in SAMARI SAMS TERIYAKI GRILL, MGM LIQUOR, and CULVER'S FROZEN CUSTARD. 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, Specialty Trade Contractors, and Professional/Technical Services. Borrowers in these NAICS sectors typically see better terms and faster approvals.

Geographic concentration: Top markets are Minnesota, Wisconsin, Pennsylvania, and New Jersey. Lenders typically underwrite faster in states where they already have closing comps.

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Compare First Resource Bank to Similar SBA Lenders

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

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Frandsen Bank and Trust

874 loans$312K avg5 states

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About First Resource Bank SBA Lending

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

First Resource Bank serves borrowers across 10 states and 53 industry sectors with a regional lending focus. To find out whether First Resource 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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