Bangor Savings Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Bangor Savings Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 272 | $55.4M | $204K | 9.6% |
| 722513 | Limited-Service Restaurants | 128 | $19.1M | $149K | 4.5% |
| 713940 | Fitness and Recreational Sports Centers | 80 | $14.7M | $184K | 2.8% |
| 722410 | Drinking Places (Alcoholic Beverages) | 80 | $10.4M | $130K | 2.8% |
| 238310 | Drywall and Insulation Contractors | 56 | $5.4M | $97K | 2.0% |
| 445110 | Supermarkets and Other Grocery (except Convenience) Stores | 56 | $11.9M | $213K | 2.0% |
| 312120 | Breweries | 56 | $15.0M | $269K | 2.0% |
| 624410 | Child Day Care Services | 56 | $8.9M | $159K | 2.0% |
| 812112 | Beauty Salons | 48 | $9.6M | $200K | 1.7% |
| 561730 | Landscaping Services | 48 | $10.2M | $213K | 1.7% |
Geographic Distribution
SBA lending activity for Bangor Savings Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Maine (ME) | 2,280 | $378.6M | 80.1% |
| New Hampshire (NH) | 496 | $118.3M | 17.4% |
| Massachusetts (MA) | 48 | $10.5M | 1.7% |
| Connecticut (CT) | 24 | $3.6M | 0.8% |
Why Choose Bangor Savings Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 2,848 SBA loans approved, totaling $510.9M in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Limited-Service Restaurants, Fitness and Recreational Sports Centers
- ✓Competitive Terms: Average interest rate of 7.23% with flexible term lengths averaging 111 months
- ✓Loan Range: Loan sizes from $10K to $1.8M, with an average of $179K
- ✓Nationwide Reach: Active lending in 4 states, with strong presence in ME, NH, MA
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 Bangor Savings Bank SBA lending
What types of businesses does Bangor Savings Bank typically finance?
Bangor Savings Bank specializes in SBA 7(a) lending to specific industries including full-service restaurants, limited-service restaurants, fitness and recreational sports centers, drinking places (alcoholic beverages). They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Bangor Savings Bank's typical SBA loan terms?
Bangor Savings Bank's SBA 7(a) loans typically feature an average interest rate of 7.23% and average term length of 111 months (approximately 9 years). Loan sizes range from $10K to $1.8M, with an average loan size of $179K.
Do I need a business valuation for a Bangor Savings Bank SBA loan?
Yes, Bangor Savings 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 Bangor Savings Bank compare to other SBA lenders?
Bangor Savings Bank has originated 2,848 SBA loans totaling $510.9M 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 Bangor Savings Bank lend in?
Bangor Savings Bank provides SBA 7(a) financing with particularly strong presence in ME, NH, 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?
Professional valuations are often required for SBA loans over $250,000.
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