Berean Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Berean Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 812210 | Funeral Homes and Funeral Services | 2 | $106K | $53K | 40.0% |
| 488999 | All Other Support Activities for Transportation | 1 | $100K | $100K | 20.0% |
| 812112 | Beauty Salons | 1 | $102K | $102K | 20.0% |
Geographic Distribution
SBA lending activity for Berean Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Pennsylvania (PA) | 5 | $342K | 100.0% |
Why Choose Berean Bank?
Based on SBA 7(a) lending track record from 2001-2006
- ✓Proven Track Record: 5 SBA loans approved, totaling $342K in financing
- ✓Industry Expertise: Specialized focus on Funeral Homes and Funeral Services, All Other Support Activities for Transportation, Beauty Salons
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 141 months
- ✓Loan Range: Loan sizes from $20K to $102K, with an average of $68K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in PA
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 Berean Bank SBA lending
What types of businesses does Berean Bank typically finance?
Berean Bank specializes in SBA 7(a) lending to specific industries including funeral homes and funeral services, all other support activities for transportation, beauty salons. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Berean Bank's typical SBA loan terms?
Berean Bank's SBA 7(a) loans typically feature an average interest rate of — and average term length of 141 months (approximately 12 years). Loan sizes range from $20K to $102K, with an average loan size of $68K.
Do I need a business valuation for a Berean Bank SBA loan?
Yes, Berean Bank 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 Berean Bank compare to other SBA lenders?
Berean Bank has originated 5 SBA loans totaling $342K since 2001. 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 Berean Bank lend in?
Berean Bank provides SBA 7(a) financing with particularly strong presence in PA. 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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