Bank of New England
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Bank of New England · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 441120 | Used Car Dealers | 3 | $143K | $48K | 4.3% |
| 713940 | Fitness and Recreational Sports Centers | 3 | $695K | $232K | 4.3% |
| 812112 | Beauty Salons | 2 | $246K | $123K | 2.9% |
| 721211 | RV (Recreational Vehicle) Parks and Campgrounds | 1 | $210K | $210K | 1.4% |
| 812990 | All Other Personal Services | 1 | $75K | $75K | 1.4% |
| 322211 | Corrugated and Solid Fiber Box Manufacturing | 1 | $65K | $65K | 1.4% |
| 621210 | Offices of Dentists | 1 | $150K | $150K | 1.4% |
| 713910 | Golf Courses and Country Clubs | 1 | $150K | $150K | 1.4% |
| 445291 | Baked Goods Retailers | 1 | $82K | $82K | 1.4% |
| 531390 | Other Activities Related to Real Estate | 1 | $32K | $32K | 1.4% |
Geographic Distribution
SBA lending activity for Bank of New England by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New Hampshire (NH) | 59 | $8.5M | 84.3% |
| Massachusetts (MA) | 11 | $5.4M | 15.7% |
Why Choose Bank of New England?
Based on SBA 7(a) lending track record from 1994-2014
- ✓Proven Track Record: 70 SBA loans approved, totaling $14.0M in financing
- ✓Industry Expertise: Specialized focus on Used Car Dealers, Fitness and Recreational Sports Centers, Beauty Salons
- ✓Competitive Terms: Average interest rate of 5.75% with flexible term lengths averaging 99 months
- ✓Loan Range: Loan sizes from $15K to $4.3M, with an average of $199K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in 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 Bank of New England SBA lending
What types of businesses does Bank of New England typically finance?
Bank of New England specializes in SBA 7(a) lending to specific industries including used car dealers, fitness and recreational sports centers, beauty salons, rv (recreational vehicle) parks and campgrounds. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Bank of New England's typical SBA loan terms?
Bank of New England's SBA 7(a) loans typically feature an average interest rate of 5.75% and average term length of 99 months (approximately 8 years). Loan sizes range from $15K to $4.3M, with an average loan size of $199K.
Do I need a business valuation for a Bank of New England SBA loan?
Yes, Bank of New England 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 Bank of New England compare to other SBA lenders?
Bank of New England has originated 70 SBA loans totaling $14.0M since 1994. 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 Bank of New England lend in?
Bank of New England provides SBA 7(a) financing with particularly strong presence in NH, MA. 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.
Get your certified valuation from Fair Market Value.