Friend Bank
SBA 7(a) Lending Profile · FY 2020 analysis
Industry Focus
Top industries served by Friend Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 423330 | Roofing, Siding, and Insulation Material Merchant Wholesalers | 40 | $4.2M | $105K | 23.8% |
| 722511 | Full-Service Restaurants | 16 | $1.0M | $65K | 9.5% |
| 451120 | Hobby, Toy, and Game Stores | 16 | $1.6M | $100K | 9.5% |
| 238160 | Roofing Contractors | 16 | $4.1M | $254K | 9.5% |
| 561730 | Landscaping Services | 16 | $440K | $28K | 9.5% |
| 541110 | Offices of Lawyers | 8 | $800K | $100K | 4.8% |
| 457110 | Other | 8 | $3.2M | $401K | 4.8% |
| 713940 | Fitness and Recreational Sports Centers | 8 | $960K | $120K | 4.8% |
| 332311 | Prefabricated Metal Building and Component Manufacturing | 8 | $1.3M | $158K | 4.8% |
| 444190 | Other Building Material Dealers | 8 | $6.0M | $748K | 4.8% |
Geographic Distribution
SBA lending activity for Friend Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Alabama (AL) | 160 | $22.9M | 95.2% |
| Florida (FL) | 8 | $6.0M | 4.8% |
Why Choose Friend Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 168 SBA loans approved, totaling $28.9M in financing
- ✓Industry Expertise: Specialized focus on Roofing, Siding, and Insulation Material Merchant Wholesalers, Full-Service Restaurants, Hobby, Toy, and Game Stores
- ✓Competitive Terms: Average interest rate of 5.89% with flexible term lengths averaging 88 months
- ✓Loan Range: Loan sizes from $25K to $748K, with an average of $172K
- ✓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, full-service restaurants, hobby, toy, and game stores, 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 88 months (approximately 7 years). Loan sizes range from $25K to $748K, with an average loan size of $172K.
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 168 SBA loans totaling $28.9M 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 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?
Professional valuations are often required for SBA loans over $250,000.
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