Ion Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Ion Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 711510 | Independent Artists, Writers, and Performers | 24 | $3.4M | $141K | 10.7% |
| 621399 | Offices of All Other Miscellaneous Health Practitioners | 16 | $7.9M | $495K | 7.1% |
| 238130 | Framing Contractors | 8 | $13.3M | $1.7M | 3.6% |
| 336612 | Boat Building | 8 | $720K | $90K | 3.6% |
| 532289 | Other | 8 | $3.2M | $405K | 3.6% |
| 445320 | Other | 8 | $2.5M | $315K | 3.6% |
| 238320 | Painting and Wall Covering Contractors | 8 | $800K | $100K | 3.6% |
| 459510 | Other | 8 | $1.7M | $218K | 3.6% |
| 444130 | Hardware Stores | 8 | $1.6M | $200K | 3.6% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 8 | $11.1M | $1.4M | 3.6% |
Geographic Distribution
SBA lending activity for Ion Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Connecticut (CT) | 224 | $153.0M | 100.0% |
Why Choose Ion Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 224 SBA loans approved, totaling $153.0M in financing
- ✓Industry Expertise: Specialized focus on Independent Artists, Writers, and Performers, Offices of All Other Miscellaneous Health Practitioners, Framing Contractors
- ✓Competitive Terms: Average interest rate of 8.05% with flexible term lengths averaging 162 months
- ✓Loan Range: Loan sizes from $15K to $4.3M, with an average of $683K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in CT
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 Ion Bank SBA lending
What types of businesses does Ion Bank typically finance?
Ion Bank specializes in SBA 7(a) lending to specific industries including independent artists, writers, and performers, offices of all other miscellaneous health practitioners, framing contractors, boat building. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Ion Bank's typical SBA loan terms?
Ion Bank's SBA 7(a) loans typically feature an average interest rate of 8.05% and average term length of 162 months (approximately 14 years). Loan sizes range from $15K to $4.3M, with an average loan size of $683K.
Do I need a business valuation for a Ion Bank SBA loan?
Yes, Ion 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 Ion Bank compare to other SBA lenders?
Ion Bank has originated 224 SBA loans totaling $153.0M 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 Ion Bank lend in?
Ion Bank provides SBA 7(a) financing with particularly strong presence in CT. 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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