OneLocal Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by OneLocal Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 2 | $588K | $294K | 4.8% |
| 441120 | Used Car Dealers | 2 | $380K | $190K | 4.8% |
| 624410 | Child Care Services | 1 | $290K | $290K | 2.4% |
| 621210 | Offices of Dentists | 1 | $390K | $390K | 2.4% |
| 811111 | General Automotive Repair | 1 | $50K | $50K | 2.4% |
| 541110 | Offices of Lawyers | 1 | $40K | $40K | 2.4% |
| 541430 | Graphic Design Services | 1 | $325K | $325K | 2.4% |
| 621310 | Offices of Chiropractors | 1 | $60K | $60K | 2.4% |
| 722410 | Drinking Places (Alcoholic Beverages) | 1 | $400K | $400K | 2.4% |
Geographic Distribution
SBA lending activity for OneLocal Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Massachusetts (MA) | 40 | $13.5M | 95.2% |
| Rhode Island (RI) | 2 | $440K | 4.8% |
Why Choose OneLocal Bank?
Based on SBA 7(a) lending track record from 1993-1998
- ✓Proven Track Record: 42 SBA loans approved, totaling $13.9M in financing
- ✓Industry Expertise: Specialized focus on Automotive Body, Paint, and Interior Repair and Maintenance, Used Car Dealers, Child Care Services
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 170 months
- ✓Loan Range: Loan sizes from $40K to $1.1M, with an average of $332K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in MA, RI
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 OneLocal Bank SBA lending
What types of businesses does OneLocal Bank typically finance?
OneLocal Bank specializes in SBA 7(a) lending to specific industries including automotive body, paint, and interior repair and maintenance, used car dealers, child care services, offices of dentists. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are OneLocal Bank's typical SBA loan terms?
OneLocal Bank's SBA 7(a) loans typically feature an average interest rate of — and average term length of 170 months (approximately 14 years). Loan sizes range from $40K to $1.1M, with an average loan size of $332K.
Do I need a business valuation for a OneLocal Bank SBA loan?
Yes, OneLocal 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 OneLocal Bank compare to other SBA lenders?
OneLocal Bank has originated 42 SBA loans totaling $13.9M since 1993. 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 OneLocal Bank lend in?
OneLocal Bank provides SBA 7(a) financing with particularly strong presence in MA, RI. 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?
Certified valuations are often required for SBA loans over $250,000.
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