Locality Bank
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by Locality Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 713940 | Fitness and Recreational Sports Centers | 48 | $22.9M | $477K | 10.2% |
| 621111 | Offices of Physicians (except Mental Health Specialists) | 24 | $35.1M | $1.5M | 5.1% |
| 541110 | Offices of Lawyers | 24 | $21.8M | $908K | 5.1% |
| 722515 | Snack and Nonalcoholic Beverage Bars | 24 | $4.8M | $200K | 5.1% |
| 336611 | Ship Building and Repairing | 24 | $24.4M | $1.0M | 5.1% |
| 237990 | Other Heavy and Civil Engineering Construction | 24 | $26.4M | $1.1M | 5.1% |
| 238990 | All Other Specialty Trade Contractors | 16 | $9.7M | $608K | 3.4% |
| 424470 | Meat and Meat Product Merchant Wholesalers | 16 | $24.0M | $1.5M | 3.4% |
| 541310 | Architectural Services | 16 | $4.0M | $250K | 3.4% |
| 621340 | Offices of Physical, Occupational and Speech Therapists, and Audiologi | 16 | $8.2M | $512K | 3.4% |
Geographic Distribution
SBA lending activity for Locality Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Florida (FL) | 448 | $390.2M | 94.9% |
| Georgia (GA) | 16 | $13.7M | 3.4% |
| Nevada (NV) | 8 | $3.6M | 1.7% |
Why Choose Locality Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 472 SBA loans approved, totaling $407.5M in financing
- ✓Industry Expertise: Specialized focus on Fitness and Recreational Sports Centers, Offices of Physicians (except Mental Health Specialists), Offices of Lawyers
- ✓Competitive Terms: Average interest rate of 9.99% with flexible term lengths averaging 139 months
- ✓Loan Range: Loan sizes from $25K to $3.9M, with an average of $863K
- ✓Nationwide Reach: Active lending in 3 states, with strong presence in FL, GA, NV
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 Locality Bank SBA lending
What types of businesses does Locality Bank typically finance?
Locality Bank specializes in SBA 7(a) lending to specific industries including fitness and recreational sports centers, offices of physicians (except mental health specialists), offices of lawyers, snack and nonalcoholic beverage bars. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Locality Bank's typical SBA loan terms?
Locality Bank's SBA 7(a) loans typically feature an average interest rate of 9.99% and average term length of 139 months (approximately 12 years). Loan sizes range from $25K to $3.9M, with an average loan size of $863K.
Do I need a business valuation for a Locality Bank SBA loan?
Yes, Locality 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 Locality Bank compare to other SBA lenders?
Locality Bank has originated 472 SBA loans totaling $407.5M 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 Locality Bank lend in?
Locality Bank provides SBA 7(a) financing with particularly strong presence in FL, GA, NV. 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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