Freedom Bank Inc
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by Freedom Bank Inc
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 561790 | Other Services to Buildings and Dwellings | 16 | $3.8M | $236K | 28.6% |
| 611710 | Educational Support Services | 8 | $200K | $25K | 14.3% |
| 524210 | Insurance Agencies and Brokerages | 8 | $600K | $75K | 14.3% |
| 812910 | Pet Care (except Veterinary) Services | 8 | $1.3M | $162K | 14.3% |
| 523920 | Portfolio Management | 8 | $2.0M | $250K | 14.3% |
| 484110 | General Freight Trucking, Local | 8 | $1.6M | $205K | 14.3% |
Geographic Distribution
SBA lending activity for Freedom Bank Inc by state
| State | Loans | Volume | Share |
|---|---|---|---|
| West Virginia (WV) | 56 | $9.5M | 100.0% |
Why Choose Freedom Bank Inc?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 56 SBA loans approved, totaling $9.5M in financing
- ✓Industry Expertise: Specialized focus on Other Services to Buildings and Dwellings, Educational Support Services, Insurance Agencies and Brokerages
- ✓Competitive Terms: Average interest rate of 5.13% with flexible term lengths averaging 124 months
- ✓Loan Range: Loan sizes from $25K to $335K, with an average of $170K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in WV
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 Freedom Bank Inc SBA lending
What types of businesses does Freedom Bank Inc typically finance?
Freedom Bank Inc specializes in SBA 7(a) lending to specific industries including other services to buildings and dwellings, educational support services, insurance agencies and brokerages, pet care (except veterinary) services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Freedom Bank Inc's typical SBA loan terms?
Freedom Bank Inc's SBA 7(a) loans typically feature an average interest rate of 5.13% and average term length of 124 months (approximately 10 years). Loan sizes range from $25K to $335K, with an average loan size of $170K.
Do I need a business valuation for a Freedom Bank Inc SBA loan?
Yes, Freedom Bank Inc 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 Freedom Bank Inc compare to other SBA lenders?
Freedom Bank Inc has originated 56 SBA loans totaling $9.5M 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 Freedom Bank Inc lend in?
Freedom Bank Inc provides SBA 7(a) financing with particularly strong presence in WV. 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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