Bank of Richmondville
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Bank of Richmondville · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 339920 | Sporting and Athletic Goods Manufacturing | 1 | $117K | $117K | 14.3% |
Geographic Distribution
SBA lending activity for Bank of Richmondville by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New York (NY) | 7 | $829K | 100.0% |
Why Choose Bank of Richmondville?
Based on SBA 7(a) lending track record from 1994-2004
- ✓Proven Track Record: 7 SBA loans approved, totaling $829K in financing
- ✓Industry Expertise: Specialized focus on Sporting and Athletic Goods Manufacturing
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 120 months
- ✓Loan Range: Loan sizes from $30K to $385K, with an average of $118K
- ✓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 Bank of Richmondville SBA lending
What types of businesses does Bank of Richmondville typically finance?
Bank of Richmondville specializes in SBA 7(a) lending to specific industries including sporting and athletic goods manufacturing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Bank of Richmondville's typical SBA loan terms?
Bank of Richmondville's SBA 7(a) loans typically feature an average interest rate of — and average term length of 120 months (approximately 10 years). Loan sizes range from $30K to $385K, with an average loan size of $118K.
Do I need a business valuation for a Bank of Richmondville SBA loan?
Yes, Bank of Richmondville 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 Richmondville compare to other SBA lenders?
Bank of Richmondville has originated 7 SBA loans totaling $829K 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 Richmondville lend in?
Bank of Richmondville 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.
Get your certified valuation from Fair Market Value.