EastBank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by EastBank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 445110 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 6 | $537K | $90K | 15.4% |
| 561612 | Security Guards and Patrol Services | 2 | $250K | $125K | 5.1% |
| 238990 | All Other Specialty Trade Contractors | 1 | $1.0M | $1.0M | 2.6% |
| 812310 | Coin-Operated Laundries and Drycleaners | 1 | $65K | $65K | 2.6% |
| 423920 | Toy and Hobby Goods and Supplies Merchant Wholesalers | 1 | $77K | $77K | 2.6% |
| 236118 | Residential Remodelers | 1 | $50K | $50K | 2.6% |
| 236220 | Commercial and Institutional Building Construction | 1 | $100K | $100K | 2.6% |
| 722320 | Caterers | 1 | $28K | $28K | 2.6% |
| 713940 | Fitness and Recreational Sports Centers | 1 | $65K | $65K | 2.6% |
| 524298 | All Other Insurance Related Activities | 1 | $75K | $75K | 2.6% |
Geographic Distribution
SBA lending activity for EastBank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 39 | $4.7M | 100.0% |
Why Choose EastBank?
Based on SBA 7(a) lending track record from 1996-2007
- ✓Proven Track Record: 39 SBA loans approved, totaling $4.7M in financing
- ✓Industry Expertise: Specialized focus on Supermarkets and Other Grocery Retailers (except Convenience Retailers), Security Guards and Patrol Services, All Other Specialty Trade Contractors
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 62 months
- ✓Loan Range: Loan sizes from $28K to $1.0M, with an average of $122K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MN
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 EastBank SBA lending
What types of businesses does EastBank typically finance?
EastBank specializes in SBA 7(a) lending to specific industries including supermarkets and other grocery retailers (except convenience retailers), security guards and patrol services, all other specialty trade contractors, coin-operated laundries and drycleaners. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are EastBank's typical SBA loan terms?
EastBank's SBA 7(a) loans typically feature an average interest rate of — and average term length of 62 months (approximately 5 years). Loan sizes range from $28K to $1.0M, with an average loan size of $122K.
Do I need a business valuation for a EastBank SBA loan?
Yes, EastBank 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 EastBank compare to other SBA lenders?
EastBank has originated 39 SBA loans totaling $4.7M since 1996. 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 EastBank lend in?
EastBank provides SBA 7(a) financing with particularly strong presence in MN. 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?
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