Ballston Spa National Bank
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by Ballston Spa National Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722330 | Mobile Food Services | 8 | $798K | $100K | 16.7% |
| 812310 | Coin-Operated Laundries and Drycleaners | 8 | $1.4M | $177K | 16.7% |
| 238990 | All Other Specialty Trade Contractors | 8 | $800K | $100K | 16.7% |
| 451110 | Sporting Goods Stores | 8 | $520K | $65K | 16.7% |
| 459110 | Other | 8 | $1.2M | $150K | 16.7% |
| 485999 | All Other Transit and Ground Passenger Transportation | 8 | $1.3M | $160K | 16.7% |
Geographic Distribution
SBA lending activity for Ballston Spa National Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New York (NY) | 48 | $6.0M | 100.0% |
Why Choose Ballston Spa National Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 48 SBA loans approved, totaling $6.0M in financing
- ✓Industry Expertise: Specialized focus on Mobile Food Services, Coin-Operated Laundries and Drycleaners, All Other Specialty Trade Contractors
- ✓Competitive Terms: Average interest rate of 4.88% with flexible term lengths averaging 104 months
- ✓Loan Range: Loan sizes from $65K to $177K, with an average of $125K
- ✓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 mobile food services, coin-operated laundries and drycleaners, all other specialty trade contractors, sporting goods stores. 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 4.88% and average term length of 104 months (approximately 9 years). Loan sizes range from $65K to $177K, with an average loan size of $125K.
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 48 SBA loans totaling $6.0M since 2020. 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.
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Explore Industry Reports →Need a Business Valuation?
Professional valuations are often required for SBA loans over $250,000.
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