Burke & Herbert Bank & Trust Company
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Burke & Herbert Bank & Trust Company · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 441120 | Used Car Dealers | 2 | $210K | $105K | 7.1% |
| 722410 | Drinking Places (Alcoholic Beverages) | 1 | $100K | $100K | 3.6% |
| 238990 | All Other Specialty Trade Contractors | 1 | $371K | $371K | 3.6% |
| 624410 | Child Care Services | 1 | $400K | $400K | 3.6% |
| 221310 | Water Supply and Irrigation Systems | 1 | $200K | $200K | 3.6% |
| 621210 | Offices of Dentists | 1 | $155K | $155K | 3.6% |
| 111419 | Other Food Crops Grown Under Cover | 1 | $268K | $268K | 3.6% |
| 621340 | Offices of Physical, Occupational and Speech Therapists, and Audiologists | 1 | $349K | $349K | 3.6% |
| 711310 | Promoters of Performing Arts, Sports, and Similar Events with Facilities | 1 | $745K | $745K | 3.6% |
| 335999 | All Other Miscellaneous Electrical Equipment and Component Manufacturing | 1 | $50K | $50K | 3.6% |
Geographic Distribution
SBA lending activity for Burke & Herbert Bank & Trust Company by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Virginia (VA) | 13 | $2.2M | 46.4% |
| Kentucky (KY) | 2 | $1.1M | 7.1% |
| Maryland (MD) | 7 | $854K | 25.0% |
| West Virginia (WV) | 5 | $382K | 17.9% |
| Delaware (DE) | 1 | $349K | 3.6% |
Why Choose Burke & Herbert Bank & Trust Company?
Based on SBA 7(a) lending track record from 1992-2024
- ✓Proven Track Record: 28 SBA loans approved, totaling $4.9M in financing
- ✓Industry Expertise: Specialized focus on Used Car Dealers, Drinking Places (Alcoholic Beverages), All Other Specialty Trade Contractors
- ✓Competitive Terms: Average interest rate of 7.23% with flexible term lengths averaging 105 months
- ✓Loan Range: Loan sizes from $10K to $745K, with an average of $174K
- ✓Nationwide Reach: Active lending in 5 states, with strong presence in VA, MD, WV
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 Burke & Herbert Bank & Trust Company SBA lending
What types of businesses does Burke & Herbert Bank & Trust Company typically finance?
Burke & Herbert Bank & Trust Company specializes in SBA 7(a) lending to specific industries including used car dealers, drinking places (alcoholic beverages), all other specialty trade contractors, child care services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Burke & Herbert Bank & Trust Company's typical SBA loan terms?
Burke & Herbert Bank & Trust Company's SBA 7(a) loans typically feature an average interest rate of 7.23% and average term length of 105 months (approximately 9 years). Loan sizes range from $10K to $745K, with an average loan size of $174K.
Do I need a business valuation for a Burke & Herbert Bank & Trust Company SBA loan?
Yes, Burke & Herbert Bank & Trust Company 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 Burke & Herbert Bank & Trust Company compare to other SBA lenders?
Burke & Herbert Bank & Trust Company has originated 28 SBA loans totaling $4.9M since 1992. 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 Burke & Herbert Bank & Trust Company lend in?
Burke & Herbert Bank & Trust Company provides SBA 7(a) financing with particularly strong presence in VA, MD, WV, KY, DE. 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.
Get your certified valuation from Fair Market Value.