Open Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Open Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 721110 | Hotels (except Casino Hotels) and Motels | 357 | $849.1M | $2.4M | 16.6% |
| 722511 | Full-Service Restaurants | 170 | $87.8M | $516K | 7.9% |
| 722513 | Limited-Service Restaurants | 109 | $45.1M | $414K | 5.1% |
| 445320 | Beer, Wine, and Liquor Retailers | 79 | $59.1M | $748K | 3.7% |
| 445110 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 75 | $62.8M | $838K | 3.5% |
| 457110 | Gasoline Stations with Convenience Stores | 74 | $154.6M | $2.1M | 3.4% |
| 812310 | Coin-Operated Laundries and Drycleaners | 68 | $81.8M | $1.2M | 3.2% |
| 811192 | Car Washes | 50 | $99.4M | $2.0M | 2.3% |
| 812320 | Drycleaning and Laundry Services (except Coin-Operated) | 41 | $12.9M | $314K | 1.9% |
| 621210 | Offices of Dentists | 32 | $26.2M | $819K | 1.5% |
Geographic Distribution
SBA lending activity for Open Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| California (CA) | 1,459 | $1.60B | 67.9% |
| Texas (TX) | 131 | $231.0M | 6.1% |
| Washington (WA) | 169 | $217.1M | 7.9% |
| Colorado (CO) | 58 | $110.2M | 2.7% |
| Georgia (GA) | 90 | $102.1M | 4.2% |
| Oregon (OR) | 35 | $53.5M | 1.6% |
| Nevada (NV) | 27 | $39.6M | 1.3% |
| New Mexico (NM) | 15 | $35.9M | 0.7% |
| Arizona (AZ) | 13 | $33.8M | 0.6% |
| Virginia (VA) | 15 | $24.0M | 0.7% |
| North Carolina (NC) | 12 | $21.9M | 0.6% |
| Maryland (MD) | 18 | $17.2M | 0.8% |
| Louisiana (LA) | 5 | $11.3M | 0.2% |
| Nebraska (NE) | 3 | $10.5M | 0.1% |
| Ohio (OH) | 7 | $10.2M | 0.3% |
| New York (NY) | 12 | $9.6M | 0.6% |
| Wyoming (WY) | 10 | $9.1M | 0.5% |
| South Carolina (SC) | 5 | $8.8M | 0.2% |
| Florida (FL) | 7 | $8.5M | 0.3% |
| Oklahoma (OK) | 2 | $7.6M | 0.1% |
| Pennsylvania (PA) | 5 | $7.1M | 0.2% |
| Michigan (MI) | 4 | $6.7M | 0.2% |
| New Jersey (NJ) | 3 | $6.3M | 0.1% |
| Tennessee (TN) | 3 | $6.0M | 0.1% |
| Alaska (AK) | 6 | $5.9M | 0.3% |
| Kansas (KS) | 3 | $5.7M | 0.1% |
| Arkansas (AR) | 3 | $5.2M | 0.1% |
| North Dakota (ND) | 1 | $5.0M | 0.0% |
| Alabama (AL) | 5 | $4.9M | 0.2% |
| Utah (UT) | 3 | $4.6M | 0.1% |
| Idaho (ID) | 3 | $4.5M | 0.1% |
| District of Columbia (DC) | 3 | $4.0M | 0.1% |
| West Virginia (WV) | 1 | $3.9M | 0.0% |
| Minnesota (MN) | 1 | $1.7M | 0.0% |
| Missouri (MO) | 1 | $1.7M | 0.0% |
| Montana (MT) | 1 | $1.7M | 0.0% |
| Illinois (IL) | 6 | $1.7M | 0.3% |
| Kentucky (KY) | 1 | $960K | 0.0% |
| Hawaii (HI) | 2 | $750K | 0.1% |
| Wisconsin (WI) | 1 | $690K | 0.0% |
| South Dakota (SD) | 1 | $680K | 0.0% |
Why Choose Open Bank?
Based on SBA 7(a) lending track record from 2005-2025
- ✓Proven Track Record: 2,150 SBA loans approved, totaling $2.65B in financing
- ✓Industry Expertise: Specialized focus on Hotels (except Casino Hotels) and Motels, Full-Service Restaurants, Limited-Service Restaurants
- ✓Competitive Terms: Average interest rate of 6.18% with flexible term lengths averaging 223 months
- ✓Loan Range: Loan sizes from $20K to $5.0M, with an average of $1.2M
- ✓Nationwide Reach: Active lending in 41 states, with strong presence in CA, WA, TX
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 Open Bank SBA lending
What types of businesses does Open Bank typically finance?
Open Bank specializes in SBA 7(a) lending to specific industries including hotels (except casino hotels) and motels, full-service restaurants, limited-service restaurants, beer, wine, and liquor retailers. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Open Bank's typical SBA loan terms?
Open Bank's SBA 7(a) loans typically feature an average interest rate of 6.18% and average term length of 223 months (approximately 19 years). Loan sizes range from $20K to $5.0M, with an average loan size of $1.2M.
Do I need a business valuation for a Open Bank SBA loan?
Yes, Open 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 Open Bank compare to other SBA lenders?
Open Bank has originated 2,150 SBA loans totaling $2.65B since 2005. 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 Open Bank lend in?
Open Bank provides SBA 7(a) financing with particularly strong presence in CA, WA, TX, GA, CO. 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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