Chemical Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Chemical Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722410 | Drinking Places (Alcoholic Beverages) | 3 | $232K | $77K | 16.7% |
| 721110 | Hotels (except Casino Hotels) and Motels | 1 | $71K | $71K | 5.6% |
| 811192 | Car Washes | 1 | $330K | $330K | 5.6% |
| 561510 | Travel Agencies | 1 | $25K | $25K | 5.6% |
| 621310 | Offices of Chiropractors | 1 | $45K | $45K | 5.6% |
| 611110 | Elementary and Secondary Schools | 1 | $375K | $375K | 5.6% |
| 238110 | Poured Concrete Foundation and Structure Contractors | 1 | $190K | $190K | 5.6% |
Geographic Distribution
SBA lending activity for Chemical Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Michigan (MI) | 18 | $4.0M | 100.0% |
Why Choose Chemical Bank?
Based on SBA 7(a) lending track record from 1992-2008
- ✓Proven Track Record: 18 SBA loans approved, totaling $4.0M in financing
- ✓Industry Expertise: Specialized focus on Drinking Places (Alcoholic Beverages), Hotels (except Casino Hotels) and Motels, Car Washes
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 103 months
- ✓Loan Range: Loan sizes from $20K to $700K, with an average of $220K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MI
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 Chemical Bank SBA lending
What types of businesses does Chemical Bank typically finance?
Chemical Bank specializes in SBA 7(a) lending to specific industries including drinking places (alcoholic beverages), hotels (except casino hotels) and motels, car washes, travel agencies. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Chemical Bank's typical SBA loan terms?
Chemical Bank's SBA 7(a) loans typically feature an average interest rate of — and average term length of 103 months (approximately 9 years). Loan sizes range from $20K to $700K, with an average loan size of $220K.
Do I need a business valuation for a Chemical Bank SBA loan?
Yes, Chemical 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 Chemical Bank compare to other SBA lenders?
Chemical Bank has originated 18 SBA loans totaling $4.0M 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 Chemical Bank lend in?
Chemical Bank provides SBA 7(a) financing with particularly strong presence in MI. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
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