Florence Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Florence Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 541611 | Administrative Management and General Management Consulting Services | 16 | $600K | $38K | 8.0% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 16 | $4.2M | $263K | 8.0% |
| 812310 | Coin-Operated Laundries and Drycleaners | 16 | $6.1M | $380K | 8.0% |
| 541921 | Photography Studios, Portrait | 16 | $600K | $38K | 8.0% |
| 113310 | Logging | 16 | $1.6M | $102K | 8.0% |
| 812112 | Beauty Salons | 8 | $320K | $40K | 4.0% |
| 561730 | Landscaping Services | 8 | $400K | $50K | 4.0% |
| 812990 | All Other Personal Services | 8 | $400K | $50K | 4.0% |
| 541320 | Landscape Architectural Services | 8 | $780K | $98K | 4.0% |
| 424610 | Plastics Materials and Basic Forms and Shapes Merchant Wholesalers | 8 | $29.6M | $3.7M | 4.0% |
Geographic Distribution
SBA lending activity for Florence Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Massachusetts (MA) | 200 | $55.5M | 100.0% |
Why Choose Florence Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 200 SBA loans approved, totaling $55.5M in financing
- ✓Industry Expertise: Specialized focus on Administrative Management and General Management Consulting Services, Plumbing, Heating, and Air-Conditioning Contractors, Coin-Operated Laundries and Drycleaners
- ✓Competitive Terms: Average interest rate of 7.14% with flexible term lengths averaging 105 months
- ✓Loan Range: Loan sizes from $25K to $3.7M, with an average of $277K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MA
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 Florence Bank SBA lending
What types of businesses does Florence Bank typically finance?
Florence Bank specializes in SBA 7(a) lending to specific industries including administrative management and general management consulting services, plumbing, heating, and air-conditioning contractors, coin-operated laundries and drycleaners, photography studios, portrait. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Florence Bank's typical SBA loan terms?
Florence Bank's SBA 7(a) loans typically feature an average interest rate of 7.14% and average term length of 105 months (approximately 9 years). Loan sizes range from $25K to $3.7M, with an average loan size of $277K.
Do I need a business valuation for a Florence Bank SBA loan?
Yes, Florence 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 Florence Bank compare to other SBA lenders?
Florence Bank has originated 200 SBA loans totaling $55.5M 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 Florence Bank lend in?
Florence Bank provides SBA 7(a) financing with particularly strong presence in MA. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
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