Industrial Bank of Korea
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Industrial Bank of Korea · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 812320 | Drycleaning and Laundry Services (except Coin-Operated) | 2 | $320K | $160K | 5.9% |
| 316110 | Leather and Hide Tanning and Finishing | 1 | $200K | $200K | 2.9% |
| 339116 | Dental Laboratories | 1 | $60K | $60K | 2.9% |
| 811111 | General Automotive Repair | 1 | $50K | $50K | 2.9% |
Geographic Distribution
SBA lending activity for Industrial Bank of Korea by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New York (NY) | 31 | $4.6M | 91.2% |
| New Jersey (NJ) | 3 | $470K | 8.8% |
Why Choose Industrial Bank of Korea?
Based on SBA 7(a) lending track record from 1993-2003
- ✓Proven Track Record: 34 SBA loans approved, totaling $5.1M in financing
- ✓Industry Expertise: Specialized focus on Drycleaning and Laundry Services (except Coin-Operated), Leather and Hide Tanning and Finishing, Dental Laboratories
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 57 months
- ✓Loan Range: Loan sizes from $50K to $300K, with an average of $149K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in NY, NJ
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 Industrial Bank of Korea SBA lending
What types of businesses does Industrial Bank of Korea typically finance?
Industrial Bank of Korea specializes in SBA 7(a) lending to specific industries including drycleaning and laundry services (except coin-operated), leather and hide tanning and finishing, dental laboratories, general automotive repair. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Industrial Bank of Korea's typical SBA loan terms?
Industrial Bank of Korea's SBA 7(a) loans typically feature an average interest rate of — and average term length of 57 months (approximately 5 years). Loan sizes range from $50K to $300K, with an average loan size of $149K.
Do I need a business valuation for a Industrial Bank of Korea SBA loan?
Yes, Industrial Bank of Korea 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 Industrial Bank of Korea compare to other SBA lenders?
Industrial Bank of Korea has originated 34 SBA loans totaling $5.1M since 1993. 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 Industrial Bank of Korea lend in?
Industrial Bank of Korea provides SBA 7(a) financing with particularly strong presence in NY, NJ. 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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