Heritage Bank Inc
SBA 7(a) Lending Profile · FY 2021 analysis
Industry Focus
Top industries served by Heritage Bank Inc
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 272 | $186.3M | $685K | 6.0% |
| 722513 | Limited-Service Restaurants | 168 | $73.8M | $439K | 3.7% |
| 541990 | All Other Professional, Scientific, and Technical Services | 168 | $25.8M | $154K | 3.7% |
| 484121 | General Freight Trucking, Long Distance, Truckload | 160 | $65.9M | $412K | 3.5% |
| 621210 | Offices of Dentists | 120 | $56.0M | $467K | 2.6% |
| 811111 | General Automotive Repair | 104 | $30.6M | $295K | 2.3% |
| 621111 | Offices of Physicians (except Mental Health Specialists) | 96 | $19.9M | $207K | 2.1% |
| 236118 | Residential Remodelers | 72 | $33.3M | $463K | 1.6% |
| 236115 | New Single-Family Housing Construction (except Operative Builders) | 72 | $10.8M | $149K | 1.6% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 64 | $50.4M | $787K | 1.4% |
Geographic Distribution
SBA lending activity for Heritage Bank Inc by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Texas (TX) | 352 | $186.6M | 7.7% |
| California (CA) | 528 | $183.4M | 11.6% |
| Florida (FL) | 472 | $176.4M | 10.3% |
| Kentucky (KY) | 176 | $139.0M | 3.9% |
| Pennsylvania (PA) | 224 | $111.5M | 4.9% |
| New York (NY) | 360 | $109.4M | 7.9% |
| Ohio (OH) | 232 | $104.6M | 5.1% |
| Illinois (IL) | 224 | $87.1M | 4.9% |
| New Jersey (NJ) | 160 | $78.4M | 3.5% |
| Georgia (GA) | 152 | $74.4M | 3.3% |
| Colorado (CO) | 120 | $66.0M | 2.6% |
| North Carolina (NC) | 152 | $63.6M | 3.3% |
| Utah (UT) | 88 | $62.4M | 1.9% |
| Maryland (MD) | 120 | $57.4M | 2.6% |
| Missouri (MO) | 72 | $39.1M | 1.6% |
| Michigan (MI) | 80 | $38.5M | 1.8% |
| Virginia (VA) | 88 | $37.9M | 1.9% |
| Arizona (AZ) | 80 | $34.9M | 1.8% |
| South Dakota (SD) | 32 | $34.9M | 0.7% |
| Tennessee (TN) | 48 | $30.6M | 1.1% |
| Washington (WA) | 112 | $28.1M | 2.5% |
| Indiana (IN) | 32 | $27.1M | 0.7% |
| South Carolina (SC) | 64 | $23.4M | 1.4% |
| Louisiana (LA) | 56 | $21.6M | 1.2% |
| New Mexico (NM) | 16 | $20.6M | 0.4% |
| Nevada (NV) | 64 | $18.3M | 1.4% |
| Oregon (OR) | 72 | $17.8M | 1.6% |
| Idaho (ID) | 8 | $15.9M | 0.2% |
| Mississippi (MS) | 24 | $15.4M | 0.5% |
| Oklahoma (OK) | 48 | $13.8M | 1.1% |
| Iowa (IA) | 40 | $13.5M | 0.9% |
| Rhode Island (RI) | 24 | $7.9M | 0.5% |
| Kansas (KS) | 32 | $6.4M | 0.7% |
| Massachusetts (MA) | 40 | $6.0M | 0.9% |
| Alabama (AL) | 32 | $4.8M | 0.7% |
| Minnesota (MN) | 24 | $3.0M | 0.5% |
| Wisconsin (WI) | 16 | $2.4M | 0.4% |
| Maine (ME) | 16 | $2.4M | 0.4% |
| Montana (MT) | 8 | $1.2M | 0.2% |
| Connecticut (CT) | 8 | $1.2M | 0.2% |
| District of Columbia (DC) | 8 | $1.2M | 0.2% |
| Wyoming (WY) | 8 | $1.2M | 0.2% |
| North Dakota (ND) | 8 | $1.2M | 0.2% |
| New Hampshire (NH) | 8 | $1.2M | 0.2% |
| Delaware (DE) | 8 | $1.2M | 0.2% |
| West Virginia (WV) | 8 | $1.2M | 0.2% |
| Arkansas (AR) | 8 | $904K | 0.2% |
| Hawaii (HI) | 8 | $856K | 0.2% |
| Nebraska (NE) | 8 | $200K | 0.2% |
Why Choose Heritage Bank Inc?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 4,568 SBA loans approved, totaling $1.98B in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Limited-Service Restaurants, All Other Professional, Scientific, and Technical Services
- ✓Competitive Terms: Average interest rate of 11.43% with flexible term lengths averaging 132 months
- ✓Loan Range: Loan sizes from $25K to $5.0M, with an average of $433K
- ✓Nationwide Reach: Active lending in 49 states, with strong presence in CA, FL, NY
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 Heritage Bank Inc SBA lending
What types of businesses does Heritage Bank Inc typically finance?
Heritage Bank Inc specializes in SBA 7(a) lending to specific industries including full-service restaurants, limited-service restaurants, all other professional, scientific, and technical services, general freight trucking, long distance, truckload. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Heritage Bank Inc's typical SBA loan terms?
Heritage Bank Inc's SBA 7(a) loans typically feature an average interest rate of 11.43% and average term length of 132 months (approximately 11 years). Loan sizes range from $25K to $5.0M, with an average loan size of $433K.
Do I need a business valuation for a Heritage Bank Inc SBA loan?
Yes, Heritage 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 Heritage Bank Inc compare to other SBA lenders?
Heritage Bank Inc has originated 4,568 SBA loans totaling $1.98B 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 Heritage Bank Inc lend in?
Heritage Bank Inc provides SBA 7(a) financing with particularly strong presence in CA, FL, NY, TX, OH. 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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