Compass Bank for Savings
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Compass Bank for Savings · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 488390 | Other Support Activities for Water Transportation | 1 | $100K | $100K | 2.8% |
| 339992 | Musical Instrument Manufacturing | 1 | $32K | $32K | 2.8% |
| 313210 | Broadwoven Fabric Mills | 1 | $50K | $50K | 2.8% |
| 812310 | Coin-Operated Laundries and Drycleaners | 1 | $45K | $45K | 2.8% |
| 332710 | Machine Shops | 1 | $11K | $11K | 2.8% |
| 811122 | Automotive Glass Replacement Shops | 1 | $40K | $40K | 2.8% |
| 713950 | Bowling Centers | 1 | $100K | $100K | 2.8% |
| 488320 | Marine Cargo Handling | 1 | $80K | $80K | 2.8% |
| 337110 | Wood Kitchen Cabinet and Countertop Manufacturing | 1 | $100K | $100K | 2.8% |
| 621310 | Offices of Chiropractors | 1 | $81K | $81K | 2.8% |
Geographic Distribution
SBA lending activity for Compass Bank for Savings by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Massachusetts (MA) | 35 | $2.6M | 97.2% |
| Rhode Island (RI) | 1 | $32K | 2.8% |
Why Choose Compass Bank for Savings?
Based on SBA 7(a) lending track record from 1991-2004
- ✓Proven Track Record: 36 SBA loans approved, totaling $2.6M in financing
- ✓Industry Expertise: Specialized focus on Other Support Activities for Water Transportation, Musical Instrument Manufacturing, Broadwoven Fabric Mills
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 90 months
- ✓Loan Range: Loan sizes from $11K to $270K, with an average of $72K
- ✓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 Compass Bank for Savings SBA lending
What types of businesses does Compass Bank for Savings typically finance?
Compass Bank for Savings specializes in SBA 7(a) lending to specific industries including other support activities for water transportation, musical instrument manufacturing, broadwoven fabric mills, coin-operated laundries and drycleaners. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Compass Bank for Savings's typical SBA loan terms?
Compass Bank for Savings's SBA 7(a) loans typically feature an average interest rate of — and average term length of 90 months (approximately 8 years). Loan sizes range from $11K to $270K, with an average loan size of $72K.
Do I need a business valuation for a Compass Bank for Savings SBA loan?
Yes, Compass Bank for Savings 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 Compass Bank for Savings compare to other SBA lenders?
Compass Bank for Savings has originated 36 SBA loans totaling $2.6M since 1991. 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 Compass Bank for Savings lend in?
Compass Bank for Savings 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.
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.
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