Devon Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Devon Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 624410 | Child Care Services | 4 | $7.9M | $2.0M | 6.3% |
| 722513 | Limited-Service Restaurants | 3 | $1.1M | $358K | 4.7% |
| 812112 | Beauty Salons | 1 | $150K | $150K | 1.6% |
| 484121 | General Freight Trucking, Long-Distance, Truckload | 1 | $204K | $204K | 1.6% |
| 621330 | Offices of Mental Health Practitioners (except Physicians) | 1 | $50K | $50K | 1.6% |
| 722330 | Mobile Food Services | 1 | $180K | $180K | 1.6% |
| 312140 | Distilleries | 1 | $150K | $150K | 1.6% |
| 621399 | Offices of All Other Miscellaneous Health Practitioners | 1 | $1.0M | $1.0M | 1.6% |
| 722511 | Full-Service Restaurants | 1 | $180K | $180K | 1.6% |
| 524210 | Insurance Agencies and Brokerages | 1 | $280K | $280K | 1.6% |
Geographic Distribution
SBA lending activity for Devon Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Illinois (IL) | 64 | $20.9M | 100.0% |
Why Choose Devon Bank?
Based on SBA 7(a) lending track record from 1991-2025
- ✓Proven Track Record: 64 SBA loans approved, totaling $20.9M in financing
- ✓Industry Expertise: Specialized focus on Child Care Services, Limited-Service Restaurants, Beauty Salons
- ✓Competitive Terms: Average interest rate of 6.96% with flexible term lengths averaging 106 months
- ✓Loan Range: Loan sizes from $25K to $3.3M, with an average of $327K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in IL
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 Devon Bank SBA lending
What types of businesses does Devon Bank typically finance?
Devon Bank specializes in SBA 7(a) lending to specific industries including child care services, limited-service restaurants, beauty salons, general freight trucking, long-distance, truckload. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Devon Bank's typical SBA loan terms?
Devon Bank's SBA 7(a) loans typically feature an average interest rate of 6.96% and average term length of 106 months (approximately 9 years). Loan sizes range from $25K to $3.3M, with an average loan size of $327K.
Do I need a business valuation for a Devon Bank SBA loan?
Yes, Devon 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 Devon Bank compare to other SBA lenders?
Devon Bank has originated 64 SBA loans totaling $20.9M 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 Devon Bank lend in?
Devon Bank provides SBA 7(a) financing with particularly strong presence in IL. 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.
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