European American Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by European American Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 541110 | Offices of Lawyers | 4 | $375K | $94K | 4.4% |
| 621111 | Offices of Physicians (except Mental Health Specialists) | 3 | $275K | $92K | 3.3% |
| 812112 | Beauty Salons | 2 | $358K | $179K | 2.2% |
| 812320 | Drycleaning and Laundry Services (except Coin-Operated) | 2 | $128K | $64K | 2.2% |
| 811111 | General Automotive Repair | 2 | $175K | $88K | 2.2% |
| 334512 | Automatic Environmental Control Manufacturing for Residential, Commercial, and Appliance Use | 1 | $25K | $25K | 1.1% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 1 | $85K | $85K | 1.1% |
| 611410 | Business and Secretarial Schools | 1 | $25K | $25K | 1.1% |
| 541940 | Veterinary Services | 1 | $75K | $75K | 1.1% |
| 713940 | Fitness and Recreational Sports Centers | 1 | $140K | $140K | 1.1% |
Geographic Distribution
SBA lending activity for European American Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New York (NY) | 86 | $8.0M | 94.5% |
| Connecticut (CT) | 5 | $750K | 5.5% |
Why Choose European American Bank?
Based on SBA 7(a) lending track record from 1992-2003
- ✓Proven Track Record: 91 SBA loans approved, totaling $8.8M in financing
- ✓Industry Expertise: Specialized focus on Offices of Lawyers, Offices of Physicians (except Mental Health Specialists), Beauty Salons
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 63 months
- ✓Loan Range: Loan sizes from $10K to $480K, with an average of $96K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in NY, CT
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 European American Bank SBA lending
What types of businesses does European American Bank typically finance?
European American Bank specializes in SBA 7(a) lending to specific industries including offices of lawyers, offices of physicians (except mental health specialists), beauty salons, drycleaning and laundry services (except coin-operated). They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are European American Bank's typical SBA loan terms?
European American Bank's SBA 7(a) loans typically feature an average interest rate of — and average term length of 63 months (approximately 5 years). Loan sizes range from $10K to $480K, with an average loan size of $96K.
Do I need a business valuation for a European American Bank SBA loan?
Yes, European American 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 European American Bank compare to other SBA lenders?
European American Bank has originated 91 SBA loans totaling $8.8M 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 European American Bank lend in?
European American Bank provides SBA 7(a) financing with particularly strong presence in NY, CT. 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.
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