Herring Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Herring Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 721110 | Hotels (except Casino Hotels) and Motels | 5 | $7.9M | $1.6M | 3.4% |
| 621310 | Offices of Chiropractors | 4 | $381K | $95K | 2.7% |
| 811310 | Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance | 3 | $485K | $162K | 2.1% |
| 624410 | Child Care Services | 3 | $250K | $83K | 2.1% |
| 812199 | Other Personal Care Services | 2 | $180K | $90K | 1.4% |
| 811122 | Automotive Glass Replacement Shops | 2 | $180K | $90K | 1.4% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 2 | $130K | $65K | 1.4% |
| 621391 | Offices of Podiatrists | 2 | $375K | $188K | 1.4% |
| 621210 | Offices of Dentists | 2 | $262K | $131K | 1.4% |
| 561439 | Other Business Service Centers (including Copy Shops) | 2 | $700K | $350K | 1.4% |
Geographic Distribution
SBA lending activity for Herring Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Texas (TX) | 125 | $28.5M | 85.6% |
| Oklahoma (OK) | 18 | $2.9M | 12.3% |
| Colorado (CO) | 1 | $636K | 0.7% |
| California (CA) | 1 | $150K | 0.7% |
| Illinois (IL) | 1 | $150K | 0.7% |
Why Choose Herring Bank?
Based on SBA 7(a) lending track record from 1991-2025
- ✓Proven Track Record: 146 SBA loans approved, totaling $32.3M in financing
- ✓Industry Expertise: Specialized focus on Hotels (except Casino Hotels) and Motels, Offices of Chiropractors, Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance
- ✓Competitive Terms: Average interest rate of 6.64% with flexible term lengths averaging 95 months
- ✓Loan Range: Loan sizes from $10K to $2.9M, with an average of $221K
- ✓Nationwide Reach: Active lending in 5 states, with strong presence in TX, OK, CA
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 Herring Bank SBA lending
What types of businesses does Herring Bank typically finance?
Herring Bank specializes in SBA 7(a) lending to specific industries including hotels (except casino hotels) and motels, offices of chiropractors, commercial and industrial machinery and equipment (except automotive and electronic) repair and maintenance, child care services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Herring Bank's typical SBA loan terms?
Herring Bank's SBA 7(a) loans typically feature an average interest rate of 6.64% and average term length of 95 months (approximately 8 years). Loan sizes range from $10K to $2.9M, with an average loan size of $221K.
Do I need a business valuation for a Herring Bank SBA loan?
Yes, Herring 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 Herring Bank compare to other SBA lenders?
Herring Bank has originated 146 SBA loans totaling $32.3M since 1991. 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 Herring Bank lend in?
Herring Bank provides SBA 7(a) financing with particularly strong presence in TX, OK, CA, IL, CO. 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?
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