Mechanics and Farmers Bank
Full-service commercial bank offering checking, savings, lending, credit cards, wealth management, business banking, and treasury services. Founded in 1908, it is the second oldest minority-owned bank in the United States and the only North Carolina bank with CDFI designation. Locally led and not controlled by major institutions.
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Data source: SBA 7(a) FOIA loan-level data, covering activity through June 30, 2026 across the trailing 3 years (24 loan records for this lender). Refreshed quarterly from public loan-level records; figures are not supplied or reviewed by the lender.
Mechanics and Farmers Bank ranks #71 of 564 SBA 7(a) lenders nationally by acquisition-loan volume.
Most of Mechanics and Farmers Bank’s 7(a) acquisition lending falls in the $0-$500K range: 19 loans, 79.2% of the portfolio.
| Loan size | Share of loans | Loans | % of portfolio |
|---|---|---|---|
| $0-$500K | 19 | 79.2% | |
| $500K-$1M | 3 | 12.5% | |
| $1M-$2M | 1 | 4.2% | |
| $3M-$4M | 1 | 4.2% |
Industries with highest loan volume
Snack and Nonalcoholic Beverage Bars
3
loans
$253K
avg. amount
General Automotive Repair
2
loans
$387K
avg. amount
Limited-Service Restaurants
2
loans
$330K
avg. amount
Offices of Certified Public Accountants
1
loans
$446K
avg. amount
All Other Support Services
1
loans
$734K
avg. amount
Sign Manufacturing
1
loans
$800K
avg. amount
Gift, Novelty, and Souvenir Retailers
1
loans
$217K
avg. amount
Janitorial Services
1
loans
$194K
avg. amount
Fine Arts Schools
1
loans
$204K
avg. amount
Beauty Salons
1
loans
$299K
avg. amount
10-Year
0.0%
Percentile Ranking
0th percentile
Mechanics and Farmers Bank’s median variable rate is + 3.00%, against a market median of Prime + 1.88%, 113 above market.
This Lender
Market Average
| Loan Size | Avg Rate |
|---|---|
| $0-$500K | Prime + 2.96% |
| $500K-$1M | Prime + 3.00% |
| $1M-$2M | Prime + 2.75% |
| $3M-$4M | Prime + 2.00% |
Mechanics and Farmers Bank has originated 7(a) acquisition loans in 8 states, most actively in North Carolina (7), Florida (5) and Virginia (3). Darker states on the map carry more volume.
| State | Loans | % of Total |
|---|---|---|
| North Carolina | 7 | 29.2% |
| Florida | 5 | 20.8% |
| Virginia | 3 | 12.5% |
| Georgia | 3 | 12.5% |
| Kentucky | 2 | 8.3% |
| South Carolina | 2 | 8.3% |
| Illinois | 1 | 4.2% |
| Tennessee | 1 | 4.2% |
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