Charles River Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Charles River Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 561730 | Landscaping Services | 9 | $3.8M | $422K | 11.8% |
| 541110 | Offices of Lawyers | 5 | $108K | $22K | 6.6% |
| 332710 | Machine Shops | 3 | $681K | $227K | 3.9% |
| 812112 | Beauty Salons | 2 | $167K | $84K | 2.6% |
| 332312 | Fabricated Structural Metal Manufacturing | 2 | $150K | $75K | 2.6% |
| 621210 | Offices of Dentists | 2 | $200K | $100K | 2.6% |
| 541380 | Testing Laboratories and Services | 2 | $901K | $450K | 2.6% |
| 423320 | Brick, Stone, and Related Construction Material Merchant Wholesalers | 2 | $100K | $50K | 2.6% |
| 423830 | Industrial Machinery and Equipment Merchant Wholesalers | 2 | $150K | $75K | 2.6% |
| 811198 | All Other Automotive Repair and Maintenance | 2 | $150K | $75K | 2.6% |
Geographic Distribution
SBA lending activity for Charles River Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Massachusetts (MA) | 75 | $10.4M | 98.7% |
| Rhode Island (RI) | 1 | $74K | 1.3% |
Why Choose Charles River Bank?
Based on SBA 7(a) lending track record from 2006-2020
- ✓Proven Track Record: 76 SBA loans approved, totaling $10.5M in financing
- ✓Industry Expertise: Specialized focus on Landscaping Services, Offices of Lawyers, Machine Shops
- ✓Competitive Terms: Average interest rate of 5.49% with flexible term lengths averaging 70 months
- ✓Loan Range: Loan sizes from $5K to $1.3M, with an average of $138K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in MA, RI
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 Charles River Bank SBA lending
What types of businesses does Charles River Bank typically finance?
Charles River Bank specializes in SBA 7(a) lending to specific industries including landscaping services, offices of lawyers, machine shops, beauty salons. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Charles River Bank's typical SBA loan terms?
Charles River Bank's SBA 7(a) loans typically feature an average interest rate of 5.49% and average term length of 70 months (approximately 6 years). Loan sizes range from $5K to $1.3M, with an average loan size of $138K.
Do I need a business valuation for a Charles River Bank SBA loan?
Yes, Charles River 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 Charles River Bank compare to other SBA lenders?
Charles River Bank has originated 76 SBA loans totaling $10.5M since 2006. 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 Charles River Bank lend in?
Charles River Bank provides SBA 7(a) financing with particularly strong presence in MA, RI. 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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Explore Industry Reports →Need a Business Valuation?
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