Bank of Newington
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Bank of Newington · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 623312 | Assisted Living Facilities for the Elderly | 3 | $2.1M | $696K | 7.7% |
| 812990 | All Other Personal Services | 2 | $966K | $483K | 5.1% |
| 115112 | Soil Preparation, Planting, and Cultivating | 2 | $2.0M | $1.0M | 5.1% |
| 623110 | Nursing Care Facilities (Skilled Nursing Facilities) | 1 | $2.0M | $2.0M | 2.6% |
| 423840 | Industrial Supplies Merchant Wholesalers | 1 | $848K | $848K | 2.6% |
| 541420 | Industrial Design Services | 1 | $453K | $453K | 2.6% |
| 424490 | Other Grocery and Related Products Merchant Wholesalers | 1 | $315K | $315K | 2.6% |
| 562219 | Other Nonhazardous Waste Treatment and Disposal | 1 | $843K | $843K | 2.6% |
| 111998 | All Other Miscellaneous Crop Farming | 1 | $1.9M | $1.9M | 2.6% |
| 812112 | Beauty Salons | 1 | $630K | $630K | 2.6% |
Geographic Distribution
SBA lending activity for Bank of Newington by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Georgia (GA) | 35 | $22.9M | 89.7% |
| Michigan (MI) | 3 | $2.4M | 7.7% |
| South Carolina (SC) | 1 | $453K | 2.6% |
Why Choose Bank of Newington?
Based on SBA 7(a) lending track record from 2001-2025
- ✓Proven Track Record: 39 SBA loans approved, totaling $25.8M in financing
- ✓Industry Expertise: Specialized focus on Assisted Living Facilities for the Elderly, All Other Personal Services, Soil Preparation, Planting, and Cultivating
- ✓Competitive Terms: Average interest rate of 6.56% with flexible term lengths averaging 192 months
- ✓Loan Range: Loan sizes from $150K to $2.0M, with an average of $662K
- ✓Nationwide Reach: Active lending in 3 states, with strong presence in GA, MI, SC
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 Newington SBA lending
What types of businesses does Bank of Newington typically finance?
Bank of Newington specializes in SBA 7(a) lending to specific industries including assisted living facilities for the elderly, all other personal services, soil preparation, planting, and cultivating, nursing care facilities (skilled nursing facilities). They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Bank of Newington's typical SBA loan terms?
Bank of Newington's SBA 7(a) loans typically feature an average interest rate of 6.56% and average term length of 192 months (approximately 16 years). Loan sizes range from $150K to $2.0M, with an average loan size of $662K.
Do I need a business valuation for a Bank of Newington SBA loan?
Yes, Bank of Newington 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 Newington compare to other SBA lenders?
Bank of Newington has originated 39 SBA loans totaling $25.8M since 2001. 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 Newington lend in?
Bank of Newington provides SBA 7(a) financing with particularly strong presence in GA, MI, SC. 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.