ConnectOne Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by ConnectOne Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722513 | Limited-Service Restaurants | 256 | $162.4M | $634K | 16.1% |
| 722511 | Full-Service Restaurants | 136 | $244.2M | $1.8M | 8.5% |
| 722515 | Snack and Nonalcoholic Beverage Bars | 128 | $83.0M | $649K | 8.0% |
| 812910 | Pet Care (except Veterinary) Services | 72 | $32.0M | $445K | 4.5% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 64 | $31.1M | $485K | 4.0% |
| 713940 | Fitness and Recreational Sports Centers | 64 | $16.5M | $257K | 4.0% |
| 811111 | General Automotive Repair | 56 | $24.5M | $438K | 3.5% |
| 445110 | Supermarkets and Other Grocery (except Convenience) Stores | 48 | $42.9M | $893K | 3.0% |
| 445310 | Beer, Wine, and Liquor Stores | 40 | $20.2M | $506K | 2.5% |
| 621610 | Home Health Care Services | 32 | $7.5M | $235K | 2.0% |
Geographic Distribution
SBA lending activity for ConnectOne Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New York (NY) | 312 | $401.2M | 19.6% |
| New Jersey (NJ) | 368 | $370.0M | 23.1% |
| Florida (FL) | 144 | $86.7M | 9.0% |
| Texas (TX) | 104 | $84.8M | 6.5% |
| North Carolina (NC) | 120 | $62.6M | 7.5% |
| Georgia (GA) | 80 | $56.6M | 5.0% |
| Connecticut (CT) | 24 | $54.5M | 1.5% |
| California (CA) | 56 | $43.0M | 3.5% |
| Pennsylvania (PA) | 56 | $36.1M | 3.5% |
| Tennessee (TN) | 40 | $25.2M | 2.5% |
| Delaware (DE) | 24 | $24.8M | 1.5% |
| Maryland (MD) | 32 | $23.7M | 2.0% |
| Virginia (VA) | 32 | $16.6M | 2.0% |
| Michigan (MI) | 16 | $16.4M | 1.0% |
| Colorado (CO) | 24 | $12.2M | 1.5% |
| Arizona (AZ) | 24 | $11.9M | 1.5% |
| Indiana (IN) | 16 | $10.4M | 1.0% |
| Idaho (ID) | 8 | $7.4M | 0.5% |
| South Carolina (SC) | 8 | $7.1M | 0.5% |
| Ohio (OH) | 16 | $5.1M | 1.0% |
| Alabama (AL) | 16 | $4.5M | 1.0% |
| Illinois (IL) | 16 | $4.5M | 1.0% |
| Louisiana (LA) | 8 | $4.2M | 0.5% |
| Nevada (NV) | 8 | $4.0M | 0.5% |
| Kansas (KS) | 8 | $3.7M | 0.5% |
| Utah (UT) | 8 | $3.2M | 0.5% |
| Washington (WA) | 8 | $2.8M | 0.5% |
| New Mexico (NM) | 8 | $2.5M | 0.5% |
| Wisconsin (WI) | 8 | $1.2M | 0.5% |
Why Choose ConnectOne Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 1,592 SBA loans approved, totaling $1.39B in financing
- ✓Industry Expertise: Specialized focus on Limited-Service Restaurants, Full-Service Restaurants, Snack and Nonalcoholic Beverage Bars
- ✓Competitive Terms: Average interest rate of 9.00% with flexible term lengths averaging 158 months
- ✓Loan Range: Loan sizes from $50K to $5.0M, with an average of $871K
- ✓Nationwide Reach: Active lending in 29 states, with strong presence in NJ, NY, FL
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 ConnectOne Bank SBA lending
What types of businesses does ConnectOne Bank typically finance?
ConnectOne Bank specializes in SBA 7(a) lending to specific industries including limited-service restaurants, full-service restaurants, snack and nonalcoholic beverage bars, pet care (except veterinary) services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are ConnectOne Bank's typical SBA loan terms?
ConnectOne Bank's SBA 7(a) loans typically feature an average interest rate of 9.00% and average term length of 158 months (approximately 13 years). Loan sizes range from $50K to $5.0M, with an average loan size of $871K.
Do I need a business valuation for a ConnectOne Bank SBA loan?
Yes, ConnectOne 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 ConnectOne Bank compare to other SBA lenders?
ConnectOne Bank has originated 1,592 SBA loans totaling $1.39B 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 ConnectOne Bank lend in?
ConnectOne Bank provides SBA 7(a) financing with particularly strong presence in NJ, NY, FL, NC, TX. 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?
Professional valuations are often required for SBA loans over $250,000.
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