Bank of Springfield
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Bank of Springfield · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 621310 | Offices of Chiropractors | 16 | $2.7M | $170K | 4.5% |
| 561730 | Landscaping Services | 14 | $1.8M | $127K | 3.9% |
| 722511 | Full-Service Restaurants | 11 | $4.0M | $366K | 3.1% |
| 812990 | All Other Personal Services | 10 | $2.0M | $198K | 2.8% |
| 484121 | General Freight Trucking, Long-Distance, Truckload | 9 | $3.4M | $374K | 2.5% |
| 238990 | All Other Specialty Trade Contractors | 8 | $1.9M | $232K | 2.2% |
| 722513 | Limited-Service Restaurants | 7 | $1.3M | $191K | 2.0% |
| 812112 | Beauty Salons | 7 | $467K | $67K | 2.0% |
| 238910 | Site Preparation Contractors | 7 | $1.6M | $227K | 2.0% |
| 812199 | Other Personal Care Services | 6 | $922K | $154K | 1.7% |
Geographic Distribution
SBA lending activity for Bank of Springfield by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Illinois (IL) | 282 | $63.2M | 78.8% |
| Missouri (MO) | 53 | $28.3M | 14.8% |
| Ohio (OH) | 1 | $3.6M | 0.3% |
| Alaska (AK) | 1 | $2.8M | 0.3% |
| Arizona (AZ) | 3 | $1.8M | 0.8% |
| Iowa (IA) | 2 | $1.3M | 0.6% |
| South Carolina (SC) | 2 | $1.2M | 0.6% |
| Colorado (CO) | 3 | $615K | 0.8% |
| Mississippi (MS) | 1 | $560K | 0.3% |
| New York (NY) | 2 | $555K | 0.6% |
| Kansas (KS) | 2 | $550K | 0.6% |
| Florida (FL) | 1 | $331K | 0.3% |
| Tennessee (TN) | 1 | $301K | 0.3% |
| Texas (TX) | 2 | $267K | 0.6% |
| Alabama (AL) | 1 | $185K | 0.3% |
| Virginia (VA) | 1 | $92K | 0.3% |
Why Choose Bank of Springfield?
Based on SBA 7(a) lending track record from 1996-2025
- ✓Proven Track Record: 358 SBA loans approved, totaling $105.8M in financing
- ✓Industry Expertise: Specialized focus on Offices of Chiropractors, Landscaping Services, Full-Service Restaurants
- ✓Competitive Terms: Average interest rate of 6.61% with flexible term lengths averaging 100 months
- ✓Loan Range: Loan sizes from $5K to $3.6M, with an average of $295K
- ✓Nationwide Reach: Active lending in 16 states, with strong presence in IL, MO, CO
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 Springfield SBA lending
What types of businesses does Bank of Springfield typically finance?
Bank of Springfield specializes in SBA 7(a) lending to specific industries including offices of chiropractors, landscaping services, full-service restaurants, all other personal services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Bank of Springfield's typical SBA loan terms?
Bank of Springfield's SBA 7(a) loans typically feature an average interest rate of 6.61% and average term length of 100 months (approximately 8 years). Loan sizes range from $5K to $3.6M, with an average loan size of $295K.
Do I need a business valuation for a Bank of Springfield SBA loan?
Yes, Bank of Springfield 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 Springfield compare to other SBA lenders?
Bank of Springfield has originated 358 SBA loans totaling $105.8M since 1996. 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 Springfield lend in?
Bank of Springfield provides SBA 7(a) financing with particularly strong presence in IL, MO, CO, AZ, KS. 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.
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