42 North Private Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by 42 North Private Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722410 | Drinking Places (Alcoholic Beverages) | 5 | $462K | $92K | 3.5% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 4 | $790K | $198K | 2.8% |
| 114112 | Shellfish Fishing | 3 | $282K | $94K | 2.1% |
| 811111 | General Automotive Repair | 3 | $221K | $74K | 2.1% |
| 441120 | Used Car Dealers | 3 | $510K | $170K | 2.1% |
| 114111 | Finfish Fishing | 2 | $294K | $147K | 1.4% |
| 561730 | Landscaping Services | 2 | $173K | $87K | 1.4% |
| 811192 | Car Washes | 2 | $170K | $85K | 1.4% |
| 621210 | Offices of Dentists | 2 | $370K | $185K | 1.4% |
| 812310 | Coin-Operated Laundries and Drycleaners | 2 | $452K | $226K | 1.4% |
Geographic Distribution
SBA lending activity for 42 North Private Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Rhode Island (RI) | 127 | $19.8M | 89.4% |
| Massachusetts (MA) | 13 | $2.9M | 9.2% |
| Connecticut (CT) | 2 | $700K | 1.4% |
Why Choose 42 North Private Bank?
Based on SBA 7(a) lending track record from 1991-2004
- ✓Proven Track Record: 142 SBA loans approved, totaling $23.4M in financing
- ✓Industry Expertise: Specialized focus on Drinking Places (Alcoholic Beverages), Automotive Body, Paint, and Interior Repair and Maintenance, Shellfish Fishing
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 154 months
- ✓Loan Range: Loan sizes from $10K to $900K, with an average of $165K
- ✓Nationwide Reach: Active lending in 3 states, with strong presence in RI, MA, CT
Note: Approval and terms are subject to SBA and lender requirements. This profile is based on historical data and does not guarantee future lending decisions.
Frequently Asked Questions
Common questions about 42 North Private Bank SBA lending
What types of businesses does 42 North Private Bank typically finance?
42 North Private Bank specializes in SBA 7(a) lending to specific industries including drinking places (alcoholic beverages), automotive body, paint, and interior repair and maintenance, shellfish fishing, general automotive repair. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are 42 North Private Bank's typical SBA loan terms?
42 North Private Bank's SBA 7(a) loans typically feature an average interest rate of — and average term length of 154 months (approximately 13 years). Loan sizes range from $10K to $900K, with an average loan size of $165K.
Do I need a business valuation for a 42 North Private Bank SBA loan?
Yes, 42 North Private Bank typically requires a professional business valuation for SBA loans over $250,000 or for change-of-ownership transactions. A certified valuation helps establish the purchase price, loan amount, and ensures SBA compliance. The valuation typically costs $5,000-$15,000 depending on business complexity.
How does 42 North Private Bank compare to other SBA lenders?
42 North Private Bank has originated 142 SBA loans totaling $23.4M since 1991. They distinguish themselves through industry specialization and expertise in their focus sectors. Compare their rates and terms with other lenders in our Commercial Lending Directory.
What states does 42 North Private Bank lend in?
42 North Private Bank provides SBA 7(a) financing with particularly strong presence in RI, MA, CT. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
Before applying for SBA financing, research your industry's typical loan sizes, approval rates, and specialized lenders. Understanding industry-specific financing patterns can help you find the right lender and strengthen your application.
Our industry research reports provide comprehensive intelligence for 1,000+ industries including financial benchmarks, growth trends, financing patterns, and which lenders are most active in your sector.
Explore Industry Reports →Need a Business Valuation?
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