Bank47
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Bank47 · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 812310 | Coin-Operated Laundries and Drycleaners | 1 | $90K | $90K | 20.0% |
| 332311 | Prefabricated Metal Building and Component Manufacturing | 1 | $420K | $420K | 20.0% |
Geographic Distribution
SBA lending activity for Bank47 by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Alabama (AL) | 5 | $710K | 100.0% |
Why Choose Bank47?
Based on SBA 7(a) lending track record from 1994-2004
- ✓Proven Track Record: 5 SBA loans approved, totaling $710K in financing
- ✓Industry Expertise: Specialized focus on Coin-Operated Laundries and Drycleaners, Prefabricated Metal Building and Component Manufacturing
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 116 months
- ✓Loan Range: Loan sizes from $25K to $420K, with an average of $142K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in AL
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 Bank47 SBA lending
What types of businesses does Bank47 typically finance?
Bank47 specializes in SBA 7(a) lending to specific industries including coin-operated laundries and drycleaners, prefabricated metal building and component manufacturing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Bank47's typical SBA loan terms?
Bank47's SBA 7(a) loans typically feature an average interest rate of — and average term length of 116 months (approximately 10 years). Loan sizes range from $25K to $420K, with an average loan size of $142K.
Do I need a business valuation for a Bank47 SBA loan?
Yes, Bank47 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 Bank47 compare to other SBA lenders?
Bank47 has originated 5 SBA loans totaling $710K 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 Bank47 lend in?
Bank47 provides SBA 7(a) financing with particularly strong presence in AL. 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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