Locus Bank Inc
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Locus Bank Inc
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 325611 | Soap and Other Detergent Manufacturing | 24 | $13.6M | $567K | 30.0% |
| 424820 | Wine and Distilled Alcoholic Beverage Merchant Wholesalers | 16 | $2.4M | $150K | 20.0% |
| 812112 | Beauty Salons | 8 | $720K | $90K | 10.0% |
| 621610 | Home Health Care Services | 8 | $1.6M | $200K | 10.0% |
| 423610 | Electrical Apparatus and Equipment, Wiring Supplies, and Related Equip | 8 | $600K | $75K | 10.0% |
| 541511 | Custom Computer Programming Services | 8 | $2.0M | $250K | 10.0% |
| 711130 | Musical Groups and Artists | 8 | $809K | $101K | 10.0% |
Geographic Distribution
SBA lending activity for Locus Bank Inc by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Virginia (VA) | 80 | $21.7M | 100.0% |
Why Choose Locus Bank Inc?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 80 SBA loans approved, totaling $21.7M in financing
- ✓Industry Expertise: Specialized focus on Soap and Other Detergent Manufacturing, Wine and Distilled Alcoholic Beverage Merchant Wholesalers, Beauty Salons
- ✓Competitive Terms: Average interest rate of 6.49% with flexible term lengths averaging 84 months
- ✓Loan Range: Loan sizes from $75K to $1.3M, with an average of $272K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in VA
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 Locus Bank Inc SBA lending
What types of businesses does Locus Bank Inc typically finance?
Locus Bank Inc specializes in SBA 7(a) lending to specific industries including soap and other detergent manufacturing, wine and distilled alcoholic beverage merchant wholesalers, beauty salons, home health care services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Locus Bank Inc's typical SBA loan terms?
Locus Bank Inc's SBA 7(a) loans typically feature an average interest rate of 6.49% and average term length of 84 months (approximately 7 years). Loan sizes range from $75K to $1.3M, with an average loan size of $272K.
Do I need a business valuation for a Locus Bank Inc SBA loan?
Yes, Locus Bank Inc 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 Locus Bank Inc compare to other SBA lenders?
Locus Bank Inc has originated 80 SBA loans totaling $21.7M 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 Locus Bank Inc lend in?
Locus Bank Inc provides SBA 7(a) financing with particularly strong presence in VA. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
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