Friend Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Friend Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 423330 | Roofing, Siding, and Insulation Material Merchant Wholesalers | 5 | $525K | $105K | 7.5% |
| 541320 | Landscape Architectural Services | 3 | $484K | $161K | 4.5% |
| 722511 | Full-Service Restaurants | 2 | $130K | $65K | 3.0% |
| 238160 | Roofing Contractors | 2 | $508K | $254K | 3.0% |
| 812210 | Funeral Homes and Funeral Services | 2 | $966K | $483K | 3.0% |
| 424910 | Farm Supplies Merchant Wholesalers | 2 | $998K | $499K | 3.0% |
| 561730 | Landscaping Services | 2 | $55K | $28K | 3.0% |
| 561621 | Security Systems Services (except Locksmiths) | 2 | $200K | $100K | 3.0% |
| 332312 | Fabricated Structural Metal Manufacturing | 1 | $100K | $100K | 1.5% |
| 611610 | Fine Arts Schools | 1 | $78K | $78K | 1.5% |
Geographic Distribution
SBA lending activity for Friend Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Alabama (AL) | 65 | $15.4M | 97.0% |
| Florida (FL) | 2 | $787K | 3.0% |
Why Choose Friend Bank?
Based on SBA 7(a) lending track record from 1993-2023
- ✓Proven Track Record: 67 SBA loans approved, totaling $16.2M in financing
- ✓Industry Expertise: Specialized focus on Roofing, Siding, and Insulation Material Merchant Wholesalers, Landscape Architectural Services, Full-Service Restaurants
- ✓Competitive Terms: Average interest rate of 5.89% with flexible term lengths averaging 109 months
- ✓Loan Range: Loan sizes from $15K to $1.6M, with an average of $241K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in AL, FL
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 Friend Bank SBA lending
What types of businesses does Friend Bank typically finance?
Friend Bank specializes in SBA 7(a) lending to specific industries including roofing, siding, and insulation material merchant wholesalers, landscape architectural services, full-service restaurants, roofing contractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Friend Bank's typical SBA loan terms?
Friend Bank's SBA 7(a) loans typically feature an average interest rate of 5.89% and average term length of 109 months (approximately 9 years). Loan sizes range from $15K to $1.6M, with an average loan size of $241K.
Do I need a business valuation for a Friend Bank SBA loan?
Yes, Friend 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 Friend Bank compare to other SBA lenders?
Friend Bank has originated 67 SBA loans totaling $16.2M since 1993. 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 Friend Bank lend in?
Friend Bank provides SBA 7(a) financing with particularly strong presence in AL, FL. 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?
Certified valuations are often required for SBA loans over $250,000.
Get your certified valuation from Fair Market Value.