Monson Savings Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Monson Savings Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 561730 | Landscaping Services | 20 | $1.3M | $65K | 12.1% |
| 812112 | Beauty Salons | 8 | $215K | $27K | 4.8% |
| 611620 | Sports and Recreation Instruction | 4 | $66K | $16K | 2.4% |
| 812910 | Pet Care (except Veterinary) Services | 4 | $335K | $84K | 2.4% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 4 | $391K | $98K | 2.4% |
| 811111 | General Automotive Repair | 4 | $183K | $46K | 2.4% |
| 541430 | Graphic Design Services | 4 | $311K | $78K | 2.4% |
| 624410 | Child Care Services | 4 | $153K | $38K | 2.4% |
| 561720 | Janitorial Services | 3 | $167K | $56K | 1.8% |
| 236115 | New Single-Family Housing Construction (except For-Sale Builders) | 3 | $205K | $68K | 1.8% |
Geographic Distribution
SBA lending activity for Monson Savings Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Massachusetts (MA) | 156 | $14.2M | 94.5% |
| Connecticut (CT) | 9 | $1.4M | 5.5% |
Why Choose Monson Savings Bank?
Based on SBA 7(a) lending track record from 2000-2023
- ✓Proven Track Record: 165 SBA loans approved, totaling $15.6M in financing
- ✓Industry Expertise: Specialized focus on Landscaping Services, Beauty Salons, Sports and Recreation Instruction
- ✓Competitive Terms: Average interest rate of 5.03% with flexible term lengths averaging 76 months
- ✓Loan Range: Loan sizes from $5K to $950K, with an average of $95K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in MA, 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 Monson Savings Bank SBA lending
What types of businesses does Monson Savings Bank typically finance?
Monson Savings Bank specializes in SBA 7(a) lending to specific industries including landscaping services, beauty salons, sports and recreation instruction, pet care (except veterinary) services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Monson Savings Bank's typical SBA loan terms?
Monson Savings Bank's SBA 7(a) loans typically feature an average interest rate of 5.03% and average term length of 76 months (approximately 6 years). Loan sizes range from $5K to $950K, with an average loan size of $95K.
Do I need a business valuation for a Monson Savings Bank SBA loan?
Yes, Monson Savings 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 Monson Savings Bank compare to other SBA lenders?
Monson Savings Bank has originated 165 SBA loans totaling $15.6M since 2000. 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 Monson Savings Bank lend in?
Monson Savings Bank provides SBA 7(a) financing with particularly strong presence in MA, 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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