Northfield Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Northfield Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 24 | $13.0M | $543K | 17.6% |
| 561730 | Landscaping Services | 16 | $26.6M | $1.7M | 11.8% |
| 713940 | Fitness and Recreational Sports Centers | 8 | $3.5M | $439K | 5.9% |
| 811198 | All Other Automotive Repair and Maintenance | 8 | $2.6M | $325K | 5.9% |
| 722513 | Limited-Service Restaurants | 8 | $5.4M | $672K | 5.9% |
| 621320 | Offices of Optometrists | 8 | $1.3M | $165K | 5.9% |
| 236220 | Commercial and Institutional Building Construction | 8 | $6.7M | $832K | 5.9% |
| 531210 | Offices of Real Estate Agents and Brokers | 8 | $8.8M | $1.1M | 5.9% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 8 | $7.4M | $929K | 5.9% |
| 721110 | Hotels (except Casino Hotels) and Motels | 8 | $4.8M | $600K | 5.9% |
Geographic Distribution
SBA lending activity for Northfield Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New Jersey (NJ) | 96 | $77.5M | 70.6% |
| New York (NY) | 40 | $40.5M | 29.4% |
Why Choose Northfield Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 136 SBA loans approved, totaling $118.0M in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Landscaping Services, Fitness and Recreational Sports Centers
- ✓Competitive Terms: Average interest rate of 8.50% with flexible term lengths averaging 205 months
- ✓Loan Range: Loan sizes from $150K to $3.1M, with an average of $868K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in NJ, NY
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 Northfield Bank SBA lending
What types of businesses does Northfield Bank typically finance?
Northfield Bank specializes in SBA 7(a) lending to specific industries including full-service restaurants, landscaping services, fitness and recreational sports centers, all other automotive repair and maintenance. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Northfield Bank's typical SBA loan terms?
Northfield Bank's SBA 7(a) loans typically feature an average interest rate of 8.50% and average term length of 205 months (approximately 17 years). Loan sizes range from $150K to $3.1M, with an average loan size of $868K.
Do I need a business valuation for a Northfield Bank SBA loan?
Yes, Northfield 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 Northfield Bank compare to other SBA lenders?
Northfield Bank has originated 136 SBA loans totaling $118.0M 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 Northfield Bank lend in?
Northfield Bank provides SBA 7(a) financing with particularly strong presence in NJ, NY. 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.
Get your certified valuation from Fair Market Value.