Bar Harbor Bank & Trust
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by Bar Harbor Bank & Trust
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 561730 | Landscaping Services | 88 | $8.1M | $92K | 6.1% |
| 484110 | General Freight Trucking, Local | 88 | $8.6M | $98K | 6.1% |
| 236115 | New Single-Family Housing Construction (except Operative Builders) | 72 | $12.0M | $166K | 5.0% |
| 811111 | General Automotive Repair | 56 | $7.7M | $138K | 3.9% |
| 238910 | Site Preparation Contractors | 48 | $4.3M | $89K | 3.3% |
| 722511 | Full-Service Restaurants | 48 | $7.1M | $148K | 3.3% |
| 531120 | Lessors of Nonresidential Buildings (except Miniwarehouses) | 48 | $9.9M | $205K | 3.3% |
| 621310 | Offices of Chiropractors | 40 | $1.7M | $41K | 2.8% |
| 113110 | Timber Tract Operations | 40 | $5.7M | $142K | 2.8% |
| 562111 | Solid Waste Collection | 40 | $5.5M | $137K | 2.8% |
Geographic Distribution
SBA lending activity for Bar Harbor Bank & Trust by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New Hampshire (NH) | 880 | $129.0M | 61.1% |
| Maine (ME) | 320 | $41.0M | 22.2% |
| Vermont (VT) | 232 | $33.0M | 16.1% |
| Alaska (AK) | 8 | $200K | 0.6% |
Why Choose Bar Harbor Bank & Trust?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 1,440 SBA loans approved, totaling $203.1M in financing
- ✓Industry Expertise: Specialized focus on Landscaping Services, General Freight Trucking, Local, New Single-Family Housing Construction (except Operative Builders)
- ✓Competitive Terms: Average interest rate of 6.73% with flexible term lengths averaging 91 months
- ✓Loan Range: Loan sizes from $6K to $2.0M, with an average of $141K
- ✓Nationwide Reach: Active lending in 4 states, with strong presence in NH, ME, VT
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 Bar Harbor Bank & Trust SBA lending
What types of businesses does Bar Harbor Bank & Trust typically finance?
Bar Harbor Bank & Trust specializes in SBA 7(a) lending to specific industries including landscaping services, general freight trucking, local, new single-family housing construction (except operative builders), general automotive repair. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Bar Harbor Bank & Trust's typical SBA loan terms?
Bar Harbor Bank & Trust's SBA 7(a) loans typically feature an average interest rate of 6.73% and average term length of 91 months (approximately 8 years). Loan sizes range from $6K to $2.0M, with an average loan size of $141K.
Do I need a business valuation for a Bar Harbor Bank & Trust SBA loan?
Yes, Bar Harbor Bank & Trust 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 Bar Harbor Bank & Trust compare to other SBA lenders?
Bar Harbor Bank & Trust has originated 1,440 SBA loans totaling $203.1M since 2020. 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 Bar Harbor Bank & Trust lend in?
Bar Harbor Bank & Trust provides SBA 7(a) financing with particularly strong presence in NH, ME, VT, AK. 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?
Professional valuations are often required for SBA loans over $250,000.
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