New Horizon Bank, National Association
SBA 7(a) Lending Profile · FY 2020 analysis
Industry Focus
Top industries served by New Horizon Bank, National Association
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722513 | Limited-Service Restaurants | 16 | $4.4M | $275K | 18.2% |
| 488410 | Motor Vehicle Towing | 16 | $668K | $42K | 18.2% |
| 424460 | Fish and Seafood Merchant Wholesalers | 8 | $2.0M | $250K | 9.1% |
| 447190 | Other Gasoline Stations | 8 | $733K | $92K | 9.1% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 8 | $400K | $50K | 9.1% |
| 624410 | Child Day Care Services | 8 | $2.2M | $280K | 9.1% |
| 812199 | Other Personal Care Services | 8 | $3.3M | $418K | 9.1% |
| 713990 | All Other Amusement and Recreation Industries | 8 | $1.8M | $231K | 9.1% |
| 423210 | Furniture Merchant Wholesalers | 8 | $1.2M | $150K | 9.1% |
Geographic Distribution
SBA lending activity for New Horizon Bank, National Association by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Virginia (VA) | 88 | $16.8M | 100.0% |
Why Choose New Horizon Bank, National Association?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 88 SBA loans approved, totaling $16.8M in financing
- ✓Industry Expertise: Specialized focus on Limited-Service Restaurants, Motor Vehicle Towing, Fish and Seafood Merchant Wholesalers
- ✓Competitive Terms: Average interest rate of 8.48% with flexible term lengths averaging 88 months
- ✓Loan Range: Loan sizes from $30K to $418K, with an average of $191K
- ✓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 New Horizon Bank, National Association SBA lending
What types of businesses does New Horizon Bank, National Association typically finance?
New Horizon Bank, National Association specializes in SBA 7(a) lending to specific industries including limited-service restaurants, motor vehicle towing, fish and seafood merchant wholesalers, other gasoline stations. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are New Horizon Bank, National Association's typical SBA loan terms?
New Horizon Bank, National Association's SBA 7(a) loans typically feature an average interest rate of 8.48% and average term length of 88 months (approximately 7 years). Loan sizes range from $30K to $418K, with an average loan size of $191K.
Do I need a business valuation for a New Horizon Bank, National Association SBA loan?
Yes, New Horizon Bank, National Association 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 New Horizon Bank, National Association compare to other SBA lenders?
New Horizon Bank, National Association has originated 88 SBA loans totaling $16.8M 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 New Horizon Bank, National Association lend in?
New Horizon Bank, National Association 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
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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