New Peoples Bank, Inc.
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by New Peoples Bank, Inc. · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 3 | $350K | $117K | 27.3% |
| 624410 | Child Care Services | 1 | $50K | $50K | 9.1% |
| 336212 | Truck Trailer Manufacturing | 1 | $175K | $175K | 9.1% |
| 441110 | New Car Dealers | 1 | $350K | $350K | 9.1% |
Geographic Distribution
SBA lending activity for New Peoples Bank, Inc. by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Virginia (VA) | 8 | $1.2M | 72.7% |
| Tennessee (TN) | 2 | $275K | 18.2% |
| North Carolina (NC) | 1 | $68K | 9.1% |
Why Choose New Peoples Bank, Inc.?
Based on SBA 7(a) lending track record from 1999-2017
- ✓Proven Track Record: 11 SBA loans approved, totaling $1.5M in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Child Care Services, Truck Trailer Manufacturing
- ✓Competitive Terms: Average interest rate of 5.36% with flexible term lengths averaging 70 months
- ✓Loan Range: Loan sizes from $30K to $350K, with an average of $139K
- ✓Nationwide Reach: Active lending in 3 states, with strong presence in VA, TN, NC
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 Peoples Bank, Inc. SBA lending
What types of businesses does New Peoples Bank, Inc. typically finance?
New Peoples Bank, Inc. specializes in SBA 7(a) lending to specific industries including full-service restaurants, child care services, truck trailer manufacturing, new car dealers. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are New Peoples Bank, Inc.'s typical SBA loan terms?
New Peoples Bank, Inc.'s SBA 7(a) loans typically feature an average interest rate of 5.36% and average term length of 70 months (approximately 6 years). Loan sizes range from $30K to $350K, with an average loan size of $139K.
Do I need a business valuation for a New Peoples Bank, Inc. SBA loan?
Yes, New Peoples 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 New Peoples Bank, Inc. compare to other SBA lenders?
New Peoples Bank, Inc. has originated 11 SBA loans totaling $1.5M since 1999. 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 Peoples Bank, Inc. lend in?
New Peoples Bank, Inc. provides SBA 7(a) financing with particularly strong presence in VA, TN, NC. 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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