Cape Ann Savings Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Cape Ann Savings Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722513 | Limited-Service Restaurants | 24 | $1.7M | $70K | 23.1% |
| 722330 | Mobile Food Services | 16 | $648K | $41K | 15.4% |
| 423910 | Sporting and Recreational Goods and Supplies Merchant Wholesalers | 8 | $1.2M | $150K | 7.7% |
| 621320 | Offices of Optometrists | 8 | $800K | $100K | 7.7% |
| 561730 | Landscaping Services | 8 | $920K | $115K | 7.7% |
| 445291 | Baked Goods Stores | 8 | $1.1M | $135K | 7.7% |
| 311811 | Retail Bakeries | 8 | $280K | $35K | 7.7% |
| 811111 | General Automotive Repair | 8 | $1.2M | $144K | 7.7% |
| 459120 | Other | 8 | $1.1M | $135K | 7.7% |
| 812111 | Barber Shops | 8 | $800K | $100K | 7.7% |
Geographic Distribution
SBA lending activity for Cape Ann Savings Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Massachusetts (MA) | 104 | $9.6M | 100.0% |
Why Choose Cape Ann Savings Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 104 SBA loans approved, totaling $9.6M in financing
- ✓Industry Expertise: Specialized focus on Limited-Service Restaurants, Mobile Food Services, Sporting and Recreational Goods and Supplies Merchant Wholesalers
- ✓Competitive Terms: Average interest rate of 7.13% with flexible term lengths averaging 83 months
- ✓Loan Range: Loan sizes from $16K to $150K, with an average of $93K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MA
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 Cape Ann Savings Bank SBA lending
What types of businesses does Cape Ann Savings Bank typically finance?
Cape Ann Savings Bank specializes in SBA 7(a) lending to specific industries including limited-service restaurants, mobile food services, sporting and recreational goods and supplies merchant wholesalers, offices of optometrists. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Cape Ann Savings Bank's typical SBA loan terms?
Cape Ann Savings Bank's SBA 7(a) loans typically feature an average interest rate of 7.13% and average term length of 83 months (approximately 7 years). Loan sizes range from $16K to $150K, with an average loan size of $93K.
Do I need a business valuation for a Cape Ann Savings Bank SBA loan?
Yes, Cape Ann Savings 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 Cape Ann Savings Bank compare to other SBA lenders?
Cape Ann Savings Bank has originated 104 SBA loans totaling $9.6M 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 Cape Ann Savings Bank lend in?
Cape Ann Savings Bank provides SBA 7(a) financing with particularly strong presence in MA. 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.
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