Cathay Bank
SBA 7(a) Lending Profile · FY 2021 analysis
Industry Focus
Top industries served by Cathay Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 104 | $76.5M | $735K | 11.9% |
| 445310 | Beer, Wine, and Liquor Stores | 72 | $43.0M | $598K | 8.3% |
| 445131 | Other | 64 | $37.1M | $580K | 7.3% |
| 441120 | Used Car Dealers | 48 | $62.0M | $1.3M | 5.5% |
| 721110 | Hotels (except Casino Hotels) and Motels | 48 | $148.5M | $3.1M | 5.5% |
| 445110 | Supermarkets and Other Grocery (except Convenience) Stores | 48 | $41.0M | $855K | 5.5% |
| 424990 | Other Miscellaneous Nondurable Goods Merchant Wholesalers | 32 | $68.6M | $2.1M | 3.7% |
| 812310 | Coin-Operated Laundries and Drycleaners | 32 | $30.5M | $953K | 3.7% |
| 621399 | Offices of All Other Miscellaneous Health Practitioners | 24 | $13.6M | $566K | 2.8% |
| 423920 | Toy and Hobby Goods and Supplies Merchant Wholesalers | 24 | $18.6M | $777K | 2.8% |
Geographic Distribution
SBA lending activity for Cathay Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| California (CA) | 648 | $681.3M | 74.3% |
| Washington (WA) | 88 | $91.8M | 10.1% |
| New York (NY) | 32 | $39.7M | 3.7% |
| Arizona (AZ) | 8 | $31.7M | 0.9% |
| Ohio (OH) | 16 | $15.6M | 1.8% |
| New Jersey (NJ) | 8 | $13.5M | 0.9% |
| Massachusetts (MA) | 16 | $12.3M | 1.8% |
| Pennsylvania (PA) | 8 | $8.0M | 0.9% |
| Nevada (NV) | 16 | $7.9M | 1.8% |
| Texas (TX) | 16 | $4.8M | 1.8% |
| Maryland (MD) | 8 | $4.0M | 0.9% |
| Illinois (IL) | 8 | $2.7M | 0.9% |
Why Choose Cathay Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 872 SBA loans approved, totaling $913.3M in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Beer, Wine, and Liquor Stores, Other
- ✓Competitive Terms: Average interest rate of 6.32% with flexible term lengths averaging 221 months
- ✓Loan Range: Loan sizes from $100K to $4.6M, with an average of $1.0M
- ✓Nationwide Reach: Active lending in 12 states, with strong presence in CA, WA, NY
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 Cathay Bank SBA lending
What types of businesses does Cathay Bank typically finance?
Cathay Bank specializes in SBA 7(a) lending to specific industries including full-service restaurants, beer, wine, and liquor stores, other, used car dealers. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Cathay Bank's typical SBA loan terms?
Cathay Bank's SBA 7(a) loans typically feature an average interest rate of 6.32% and average term length of 221 months (approximately 18 years). Loan sizes range from $100K to $4.6M, with an average loan size of $1.0M.
Do I need a business valuation for a Cathay Bank SBA loan?
Yes, Cathay 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 Cathay Bank compare to other SBA lenders?
Cathay Bank has originated 872 SBA loans totaling $913.3M 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 Cathay Bank lend in?
Cathay Bank provides SBA 7(a) financing with particularly strong presence in CA, WA, NY, NV, 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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