North State Bank
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by North State Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 312 | $243.1M | $779K | 9.6% |
| 722513 | Limited-Service Restaurants | 280 | $157.4M | $562K | 8.6% |
| 713940 | Fitness and Recreational Sports Centers | 168 | $60.7M | $361K | 5.2% |
| 623312 | Homes for the Elderly | 128 | $145.6M | $1.1M | 4.0% |
| 722515 | Snack and Nonalcoholic Beverage Bars | 112 | $49.8M | $444K | 3.5% |
| 624410 | Child Day Care Services | 104 | $46.4M | $446K | 3.2% |
| 621310 | Offices of Chiropractors | 72 | $25.9M | $360K | 2.2% |
| 812910 | Pet Care (except Veterinary) Services | 64 | $64.0M | $1.0M | 2.0% |
| 238990 | All Other Specialty Trade Contractors | 48 | $32.2M | $671K | 1.5% |
| 524210 | Insurance Agencies and Brokerages | 40 | $24.7M | $617K | 1.2% |
Geographic Distribution
SBA lending activity for North State Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| North Carolina (NC) | 864 | $686.2M | 26.7% |
| Florida (FL) | 416 | $371.5M | 12.8% |
| Georgia (GA) | 272 | $210.0M | 8.4% |
| Texas (TX) | 216 | $144.1M | 6.7% |
| California (CA) | 192 | $107.6M | 5.9% |
| Colorado (CO) | 80 | $100.4M | 2.5% |
| Tennessee (TN) | 136 | $77.5M | 4.2% |
| Washington (WA) | 80 | $75.8M | 2.5% |
| South Carolina (SC) | 72 | $71.9M | 2.2% |
| New York (NY) | 168 | $64.4M | 5.2% |
| Arizona (AZ) | 96 | $50.7M | 3.0% |
| Virginia (VA) | 48 | $50.2M | 1.5% |
| Michigan (MI) | 56 | $48.3M | 1.7% |
| Wisconsin (WI) | 88 | $47.8M | 2.7% |
| Missouri (MO) | 56 | $45.1M | 1.7% |
| Kentucky (KY) | 24 | $31.4M | 0.7% |
| Louisiana (LA) | 24 | $29.2M | 0.7% |
| Indiana (IN) | 40 | $28.4M | 1.2% |
| Utah (UT) | 32 | $23.0M | 1.0% |
| Alabama (AL) | 16 | $21.2M | 0.5% |
| Kansas (KS) | 8 | $19.0M | 0.2% |
| New Jersey (NJ) | 40 | $13.5M | 1.2% |
| Idaho (ID) | 40 | $13.2M | 1.2% |
| Ohio (OH) | 16 | $12.5M | 0.5% |
| Maryland (MD) | 16 | $11.6M | 0.5% |
| Nevada (NV) | 24 | $9.3M | 0.7% |
| Connecticut (CT) | 32 | $8.6M | 1.0% |
| Oklahoma (OK) | 16 | $7.9M | 0.5% |
| Illinois (IL) | 8 | $6.9M | 0.2% |
| Hawaii (HI) | 8 | $5.0M | 0.2% |
| Minnesota (MN) | 16 | $3.7M | 0.5% |
| Pennsylvania (PA) | 8 | $3.4M | 0.2% |
| Maine (ME) | 8 | $2.9M | 0.2% |
| Massachusetts (MA) | 8 | $2.2M | 0.2% |
| Delaware (DE) | 8 | $1.5M | 0.2% |
| Iowa (IA) | 8 | $1.5M | 0.2% |
Why Choose North State Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 3,240 SBA loans approved, totaling $2.41B in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Limited-Service Restaurants, Fitness and Recreational Sports Centers
- ✓Competitive Terms: Average interest rate of 7.47% with flexible term lengths averaging 173 months
- ✓Loan Range: Loan sizes from $104K to $4.9M, with an average of $743K
- ✓Nationwide Reach: Active lending in 36 states, with strong presence in NC, FL, GA
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 North State Bank SBA lending
What types of businesses does North State Bank typically finance?
North State Bank specializes in SBA 7(a) lending to specific industries including full-service restaurants, limited-service restaurants, fitness and recreational sports centers, homes for the elderly. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are North State Bank's typical SBA loan terms?
North State Bank's SBA 7(a) loans typically feature an average interest rate of 7.47% and average term length of 173 months (approximately 14 years). Loan sizes range from $104K to $4.9M, with an average loan size of $743K.
Do I need a business valuation for a North State Bank SBA loan?
Yes, North State 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 North State Bank compare to other SBA lenders?
North State Bank has originated 3,240 SBA loans totaling $2.41B 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 North State Bank lend in?
North State Bank provides SBA 7(a) financing with particularly strong presence in NC, FL, GA, TX, CA. 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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