Hanover Community Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Hanover Community Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 721110 | Hotels (except Casino Hotels) and Motels | 123 | $338.0M | $2.7M | 18.2% |
| 722511 | Full-Service Restaurants | 35 | $39.9M | $1.1M | 5.2% |
| 722513 | Limited-Service Restaurants | 24 | $18.1M | $753K | 3.5% |
| 713940 | Fitness and Recreational Sports Centers | 19 | $13.4M | $708K | 2.8% |
| 722515 | Snack and Nonalcoholic Beverage Bars | 18 | $8.4M | $469K | 2.7% |
| 445110 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 17 | $21.2M | $1.2M | 2.5% |
| 621610 | Home Health Care Services | 16 | $3.9M | $244K | 2.4% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 13 | $14.2M | $1.1M | 1.9% |
| 561730 | Landscaping Services | 11 | $8.2M | $744K | 1.6% |
| 484110 | General Freight Trucking, Local | 11 | $18.0M | $1.6M | 1.6% |
Geographic Distribution
SBA lending activity for Hanover Community Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New York (NY) | 213 | $257.2M | 31.5% |
| New Jersey (NJ) | 163 | $219.5M | 24.1% |
| Pennsylvania (PA) | 42 | $67.5M | 6.2% |
| Connecticut (CT) | 20 | $38.9M | 3.0% |
| California (CA) | 30 | $34.1M | 4.4% |
| Florida (FL) | 50 | $33.2M | 7.4% |
| Texas (TX) | 31 | $27.8M | 4.6% |
| Maryland (MD) | 11 | $27.1M | 1.6% |
| Virginia (VA) | 8 | $15.4M | 1.2% |
| Georgia (GA) | 9 | $15.1M | 1.3% |
| North Carolina (NC) | 7 | $12.2M | 1.0% |
| Indiana (IN) | 3 | $12.1M | 0.4% |
| Missouri (MO) | 3 | $9.1M | 0.4% |
| Massachusetts (MA) | 10 | $8.3M | 1.5% |
| South Carolina (SC) | 7 | $7.9M | 1.0% |
| Alabama (AL) | 3 | $7.6M | 0.4% |
| Delaware (DE) | 3 | $6.7M | 0.4% |
| Kansas (KS) | 3 | $6.5M | 0.4% |
| Maine (ME) | 2 | $6.2M | 0.3% |
| New Hampshire (NH) | 2 | $6.1M | 0.3% |
| Arkansas (AR) | 3 | $5.8M | 0.4% |
| Montana (MT) | 4 | $5.6M | 0.6% |
| Louisiana (LA) | 4 | $5.6M | 0.6% |
| Ohio (OH) | 6 | $5.3M | 0.9% |
| Colorado (CO) | 6 | $4.7M | 0.9% |
| Illinois (IL) | 6 | $4.3M | 0.9% |
| Utah (UT) | 2 | $4.2M | 0.3% |
| Tennessee (TN) | 4 | $3.8M | 0.6% |
| Wisconsin (WI) | 3 | $2.8M | 0.4% |
| Mississippi (MS) | 1 | $2.6M | 0.1% |
| South Dakota (SD) | 1 | $2.0M | 0.1% |
| Minnesota (MN) | 3 | $2.0M | 0.4% |
| Oklahoma (OK) | 2 | $1.9M | 0.3% |
| Michigan (MI) | 3 | $1.1M | 0.4% |
| Vermont (VT) | 1 | $702K | 0.1% |
| Arizona (AZ) | 2 | $615K | 0.3% |
| Nevada (NV) | 1 | $514K | 0.1% |
| Kentucky (KY) | 1 | $430K | 0.1% |
| Idaho (ID) | 2 | $310K | 0.3% |
| Washington (WA) | 1 | $250K | 0.1% |
| Nebraska (NE) | 1 | $150K | 0.1% |
Why Choose Hanover Community Bank?
Based on SBA 7(a) lending track record from 2015-2025
- ✓Proven Track Record: 677 SBA loans approved, totaling $873.4M in financing
- ✓Industry Expertise: Specialized focus on Hotels (except Casino Hotels) and Motels, Full-Service Restaurants, Limited-Service Restaurants
- ✓Competitive Terms: Average interest rate of 8.73% with flexible term lengths averaging 187 months
- ✓Loan Range: Loan sizes from $14K to $5.0M, with an average of $1.3M
- ✓Nationwide Reach: Active lending in 41 states, with strong presence in NY, NJ, 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 Hanover Community Bank SBA lending
What types of businesses does Hanover Community Bank typically finance?
Hanover Community Bank specializes in SBA 7(a) lending to specific industries including hotels (except casino hotels) and motels, full-service restaurants, limited-service restaurants, fitness and recreational sports centers. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Hanover Community Bank's typical SBA loan terms?
Hanover Community Bank's SBA 7(a) loans typically feature an average interest rate of 8.73% and average term length of 187 months (approximately 16 years). Loan sizes range from $14K to $5.0M, with an average loan size of $1.3M.
Do I need a business valuation for a Hanover Community Bank SBA loan?
Yes, Hanover Community 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 Hanover Community Bank compare to other SBA lenders?
Hanover Community Bank has originated 677 SBA loans totaling $873.4M since 2015. 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 Hanover Community Bank lend in?
Hanover Community Bank provides SBA 7(a) financing with particularly strong presence in NY, NJ, FL, PA, TX. 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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