Honor Bank
SBA 7(a) Lending Profile · FY 2025 analysis
Industry Focus
Top industries served by Honor Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 459110 | Other | 16 | $5.2M | $325K | 9.5% |
| 541213 | Tax Preparation Services | 16 | $4.6M | $288K | 9.5% |
| 532284 | Other | 16 | $10.0M | $625K | 9.5% |
| 722511 | Full-Service Restaurants | 16 | $8.6M | $537K | 9.5% |
| 523930 | Investment Advice | 8 | $1.2M | $150K | 4.8% |
| 213112 | Support Activities for Oil and Gas Operations | 8 | $400K | $50K | 4.8% |
| 531210 | Offices of Real Estate Agents and Brokers | 8 | $600K | $75K | 4.8% |
| 517919 | All Other Telecommunications | 8 | $160K | $20K | 4.8% |
| 445210 | Meat Markets | 8 | $13.9M | $1.7M | 4.8% |
| 541519 | Other Computer Related Services | 8 | $4.0M | $500K | 4.8% |
Geographic Distribution
SBA lending activity for Honor Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Michigan (MI) | 168 | $73.6M | 100.0% |
Why Choose Honor Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 168 SBA loans approved, totaling $73.6M in financing
- ✓Industry Expertise: Specialized focus on Other, Tax Preparation Services, Other
- ✓Competitive Terms: Average interest rate of 5.84% with flexible term lengths averaging 111 months
- ✓Loan Range: Loan sizes from $20K to $1.7M, with an average of $438K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MI
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 Honor Bank SBA lending
What types of businesses does Honor Bank typically finance?
Honor Bank specializes in SBA 7(a) lending to specific industries including other, tax preparation services, other, full-service restaurants. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Honor Bank's typical SBA loan terms?
Honor Bank's SBA 7(a) loans typically feature an average interest rate of 5.84% and average term length of 111 months (approximately 9 years). Loan sizes range from $20K to $1.7M, with an average loan size of $438K.
Do I need a business valuation for a Honor Bank SBA loan?
Yes, Honor 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 Honor Bank compare to other SBA lenders?
Honor Bank has originated 168 SBA loans totaling $73.6M 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 Honor Bank lend in?
Honor Bank provides SBA 7(a) financing with particularly strong presence in MI. 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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