Mechanics Cooperative Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Mechanics Cooperative Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722515 | Snack and Nonalcoholic Beverage Bars | 32 | $7.7M | $240K | 12.5% |
| 561730 | Landscaping Services | 32 | $10.0M | $313K | 12.5% |
| 238990 | All Other Specialty Trade Contractors | 16 | $800K | $50K | 6.3% |
| 541990 | All Other Professional, Scientific, and Technical Services | 16 | $520K | $33K | 6.3% |
| 713910 | Golf Courses and Country Clubs | 16 | $1.6M | $100K | 6.3% |
| 711510 | Independent Artists, Writers, and Performers | 8 | $400K | $50K | 3.1% |
| 812112 | Beauty Salons | 8 | $320K | $40K | 3.1% |
| 541512 | Computer Systems Design Services | 8 | $1.4M | $175K | 3.1% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 8 | $1.6M | $200K | 3.1% |
| 811310 | Commercial and Industrial Machinery and Equipment (except Automotive a | 8 | $400K | $50K | 3.1% |
Geographic Distribution
SBA lending activity for Mechanics Cooperative Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Massachusetts (MA) | 232 | $55.3M | 90.6% |
| Rhode Island (RI) | 24 | $8.0M | 9.4% |
Why Choose Mechanics Cooperative Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 256 SBA loans approved, totaling $63.3M in financing
- ✓Industry Expertise: Specialized focus on Snack and Nonalcoholic Beverage Bars, Landscaping Services, All Other Specialty Trade Contractors
- ✓Competitive Terms: Average interest rate of 6.61% with flexible term lengths averaging 92 months
- ✓Loan Range: Loan sizes from $15K to $1.9M, with an average of $247K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in MA, RI
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 Mechanics Cooperative Bank SBA lending
What types of businesses does Mechanics Cooperative Bank typically finance?
Mechanics Cooperative Bank specializes in SBA 7(a) lending to specific industries including snack and nonalcoholic beverage bars, landscaping services, all other specialty trade contractors, all other professional, scientific, and technical services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Mechanics Cooperative Bank's typical SBA loan terms?
Mechanics Cooperative Bank's SBA 7(a) loans typically feature an average interest rate of 6.61% and average term length of 92 months (approximately 8 years). Loan sizes range from $15K to $1.9M, with an average loan size of $247K.
Do I need a business valuation for a Mechanics Cooperative Bank SBA loan?
Yes, Mechanics Cooperative 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 Mechanics Cooperative Bank compare to other SBA lenders?
Mechanics Cooperative Bank has originated 256 SBA loans totaling $63.3M 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 Mechanics Cooperative Bank lend in?
Mechanics Cooperative Bank provides SBA 7(a) financing with particularly strong presence in MA, RI. 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.
Our industry research reports provide comprehensive intelligence for 1,000+ industries including financial benchmarks, growth trends, financing patterns, and which lenders are most active in your sector.
Explore Industry Reports →Need a Business Valuation?
Professional valuations are often required for SBA loans over $250,000.
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