Mechanics and Farmers Bank
NC
SBA-approved lender offering 7 loan programs across 10 industries.
Key Metrics
Interest Rate
9.70%
2.95% over prime
Average Loan
$369K
Per approval
Total Approvals
29
FY 2025
Loan Programs (7)
7a General
Change of Ownership
Existing or more than 2 years old
Loan Funds will Open Business
Preferred Lenders Program
New Business or 2 years or less
Fixed Rates
Industries Served (10)
All Other Specialty Trade ContractorsConvention and Trade Show OrganizersDrycleaning and Laundry Services (except Coin-Operated)Fine Arts SchoolsGeneral Automotive RepairLimited-Service RestaurantsOther Services to Buildings and DwellingsPet Care (except Veterinary) ServicesPostal ServiceSnack and Nonalcoholic Beverage Bars
Additional Details
- Prime Rate
- 6.75%
- Rate Over Prime
- 2.95%
- Effective Rate
- 9.70%
- Fiscal Year
- 2025
- States Served
- NC
- Website
- www.mfbonline.com
Ready to apply with Mechanics and Farmers Bank?
Let Cassian help you prepare your application and connect you with the right loan officer.