Ballston Spa National Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Ballston Spa National Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 621340 | Offices of Physical, Occupational and Speech Therapists, and Audiologists | 4 | $370K | $93K | 3.1% |
| 811111 | General Automotive Repair | 4 | $403K | $101K | 3.1% |
| 238210 | Electrical Contractors and Other Wiring Installation Contractors | 4 | $147K | $37K | 3.1% |
| 812320 | Drycleaning and Laundry Services (except Coin-Operated) | 4 | $325K | $81K | 3.1% |
| 485410 | School and Employee Bus Transportation | 3 | $450K | $150K | 2.3% |
| 561730 | Landscaping Services | 3 | $286K | $95K | 2.3% |
| 621210 | Offices of Dentists | 3 | $496K | $165K | 2.3% |
| 441222 | Boat Dealers | 3 | $395K | $132K | 2.3% |
| 722330 | Mobile Food Services | 2 | $200K | $100K | 1.6% |
| 339950 | Sign Manufacturing | 2 | $66K | $33K | 1.6% |
Geographic Distribution
SBA lending activity for Ballston Spa National Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New York (NY) | 129 | $11.6M | 100.0% |
Why Choose Ballston Spa National Bank?
Based on SBA 7(a) lending track record from 1991-2022
- ✓Proven Track Record: 129 SBA loans approved, totaling $11.6M in financing
- ✓Industry Expertise: Specialized focus on Offices of Physical, Occupational and Speech Therapists, and Audiologists, General Automotive Repair, Electrical Contractors and Other Wiring Installation Contractors
- ✓Competitive Terms: Average interest rate of 5.76% with flexible term lengths averaging 78 months
- ✓Loan Range: Loan sizes from $6K to $390K, with an average of $90K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in NY
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 Ballston Spa National Bank SBA lending
What types of businesses does Ballston Spa National Bank typically finance?
Ballston Spa National Bank specializes in SBA 7(a) lending to specific industries including offices of physical, occupational and speech therapists, and audiologists, general automotive repair, electrical contractors and other wiring installation contractors, drycleaning and laundry services (except coin-operated). They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Ballston Spa National Bank's typical SBA loan terms?
Ballston Spa National Bank's SBA 7(a) loans typically feature an average interest rate of 5.76% and average term length of 78 months (approximately 7 years). Loan sizes range from $6K to $390K, with an average loan size of $90K.
Do I need a business valuation for a Ballston Spa National Bank SBA loan?
Yes, Ballston Spa National 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 Ballston Spa National Bank compare to other SBA lenders?
Ballston Spa National Bank has originated 129 SBA loans totaling $11.6M 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 Ballston Spa National Bank lend in?
Ballston Spa National Bank provides SBA 7(a) financing with particularly strong presence in NY. 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?
Certified valuations are often required for SBA loans over $250,000.
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