NewBank
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by NewBank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 624 | $477.7M | $766K | 24.1% |
| 445320 | Other | 168 | $115.0M | $684K | 6.5% |
| 445110 | Supermarkets and Other Grocery (except Convenience) Stores | 160 | $273.3M | $1.7M | 6.2% |
| 812113 | Nail Salons | 120 | $31.5M | $262K | 4.6% |
| 722513 | Limited-Service Restaurants | 112 | $52.2M | $466K | 4.3% |
| 721110 | Hotels (except Casino Hotels) and Motels | 112 | $554.8M | $5.0M | 4.3% |
| 812310 | Coin-Operated Laundries and Drycleaners | 96 | $122.0M | $1.3M | 3.7% |
| 447110 | Gasoline Stations with Convenience Stores | 80 | $49.9M | $624K | 3.1% |
| 445310 | Beer, Wine, and Liquor Stores | 72 | $75.6M | $1.1M | 2.8% |
| 445291 | Baked Goods Stores | 64 | $50.6M | $790K | 2.5% |
Geographic Distribution
SBA lending activity for NewBank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New York (NY) | 1,712 | $2.26B | 66.0% |
| New Jersey (NJ) | 752 | $540.7M | 29.0% |
| Virginia (VA) | 16 | $44.0M | 0.6% |
| Utah (UT) | 8 | $40.0M | 0.3% |
| Colorado (CO) | 48 | $27.7M | 1.9% |
| Connecticut (CT) | 48 | $20.9M | 1.9% |
| Alabama (AL) | 8 | $4.2M | 0.3% |
Why Choose NewBank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 2,592 SBA loans approved, totaling $2.94B in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Other, Supermarkets and Other Grocery (except Convenience) Stores
- ✓Competitive Terms: Average interest rate of 6.94% with flexible term lengths averaging 175 months
- ✓Loan Range: Loan sizes from $40K to $5.0M, with an average of $1.1M
- ✓Nationwide Reach: Active lending in 7 states, with strong presence in NY, NJ, CO
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 NewBank SBA lending
What types of businesses does NewBank typically finance?
NewBank specializes in SBA 7(a) lending to specific industries including full-service restaurants, other, supermarkets and other grocery (except convenience) stores, nail salons. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are NewBank's typical SBA loan terms?
NewBank's SBA 7(a) loans typically feature an average interest rate of 6.94% and average term length of 175 months (approximately 15 years). Loan sizes range from $40K to $5.0M, with an average loan size of $1.1M.
Do I need a business valuation for a NewBank SBA loan?
Yes, NewBank 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 NewBank compare to other SBA lenders?
NewBank has originated 2,592 SBA loans totaling $2.94B 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 NewBank lend in?
NewBank provides SBA 7(a) financing with particularly strong presence in NY, NJ, CO, CT, 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.
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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