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Mechanics and Farmers Bank

Durham, NC 27707

⭐ SBA Preferred Lender
95
Loans Approved
$59.2M
Total Volume
$623K
Avg Loan Size
24
States Served

States Served

ArizonaCaliforniaColoradoFloridaGeorgiaIowaIllinoisIndianaKentuckyMichiganMissouriMississippiNorth CarolinaNew MexicoNevadaNew YorkOhioOklahomaPennsylvaniaSouth CarolinaTennesseeTexasVirginiaWashington

Top Industries Financed

  • Insurance Agencies and Brokerages
  • Snack and Nonalcoholic Beverage Bars
  • General Automotive Repair
  • Pet Care (except Veterinary) Services
  • Limited-Service Restaurants

Quick Summary

Mechanics and Farmers Bank is an SBA-approved lender headquartered in Durham, North Carolina. They are an SBA Preferred Lender, meaning they can approve loans without prior SBA review. Since 2020, they have approved 95 SBA 7(a) loans totaling $59.2M, with an average loan size of $623K. They serve businesses across 24 states.

About Mechanics and Farmers Bank

Mechanics and Farmers Bank is an SBA-approved lender headquartered in Durham, North Carolina. Since 2020, they have approved 95 SBA 7(a) loans totaling $59.2M, with an average loan size of $623K. As an SBA Preferred Lender, they have delegated authority to approve SBA loans without prior SBA review, resulting in faster processing times. They serve businesses across 24 states.

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Helpful SBA Borrower Guides

SBA 7(a) RequirementsDocuments ChecklistHow to Choose a Lender

Frequently Asked Questions

Is Mechanics and Farmers Bank an SBA Preferred Lender?

Yes, Mechanics and Farmers Bank is an SBA Preferred Lender (PLP). This means they have delegated authority from the SBA to approve loans without prior SBA review, resulting in faster approvals — typically 7–10 business days instead of 4–6 weeks.

How many SBA loans has Mechanics and Farmers Bank approved?

According to SBA FOIA public records, Mechanics and Farmers Bank has approved 95 SBA 7(a) loans totaling $59.2M since 2020. Their average loan size is $623K.

What states does Mechanics and Farmers Bank serve?

Mechanics and Farmers Bank serves businesses in 24 states: Arizona, California, Colorado, Florida, Georgia, Iowa, Illinois, Indiana, Kentucky, Michigan, Missouri, Mississippi, North Carolina, New Mexico, Nevada, New York, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Washington.

How do I apply for an SBA loan with Mechanics and Farmers Bank?

To apply for an SBA 7(a) loan with Mechanics and Farmers Bank, contact them directly through the form on this page. Before applying, check your FICO SBSS score (the SBA's pre-screening score) and have your financial statements, business plan, and tax returns ready. Most SBA lenders require 2+ years in business, $100K+ annual revenue, and a personal credit score of 640+.

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