bankHometown
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by bankHometown · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 238990 | All Other Specialty Trade Contractors | 6 | $510K | $85K | 3.3% |
| 811310 | Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance | 6 | $648K | $108K | 3.3% |
| 484110 | General Freight Trucking, Local | 5 | $352K | $70K | 2.7% |
| 541330 | Engineering Services | 5 | $375K | $75K | 2.7% |
| 561730 | Landscaping Services | 5 | $462K | $92K | 2.7% |
| 722511 | Full-Service Restaurants | 5 | $1.6M | $329K | 2.7% |
| 811111 | General Automotive Repair | 4 | $957K | $239K | 2.2% |
| 713940 | Fitness and Recreational Sports Centers | 4 | $570K | $143K | 2.2% |
| 812112 | Beauty Salons | 3 | $349K | $116K | 1.6% |
| 332710 | Machine Shops | 3 | $410K | $137K | 1.6% |
Geographic Distribution
SBA lending activity for bankHometown by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Massachusetts (MA) | 167 | $24.4M | 91.8% |
| Connecticut (CT) | 10 | $1.6M | 5.5% |
| Rhode Island (RI) | 2 | $580K | 1.1% |
| Nebraska (NE) | 3 | $327K | 1.6% |
Why Choose bankHometown?
Based on SBA 7(a) lending track record from 1991-2024
- ✓Proven Track Record: 182 SBA loans approved, totaling $26.9M in financing
- ✓Industry Expertise: Specialized focus on All Other Specialty Trade Contractors, Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance, General Freight Trucking, Local
- ✓Competitive Terms: Average interest rate of 5.43% with flexible term lengths averaging 92 months
- ✓Loan Range: Loan sizes from $5K to $1.3M, with an average of $148K
- ✓Nationwide Reach: Active lending in 4 states, with strong presence in MA, CT, NE
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 bankHometown SBA lending
What types of businesses does bankHometown typically finance?
bankHometown specializes in SBA 7(a) lending to specific industries including all other specialty trade contractors, commercial and industrial machinery and equipment (except automotive and electronic) repair and maintenance, general freight trucking, local, engineering services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are bankHometown's typical SBA loan terms?
bankHometown's SBA 7(a) loans typically feature an average interest rate of 5.43% and average term length of 92 months (approximately 8 years). Loan sizes range from $5K to $1.3M, with an average loan size of $148K.
Do I need a business valuation for a bankHometown SBA loan?
Yes, bankHometown 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 bankHometown compare to other SBA lenders?
bankHometown has originated 182 SBA loans totaling $26.9M since 1991. 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 bankHometown lend in?
bankHometown provides SBA 7(a) financing with particularly strong presence in MA, CT, NE, RI. 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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