Open Bank
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by Open Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 721110 | Hotels (except Casino Hotels) and Motels | 1,416 | $3.99B | $2.8M | 24.1% |
| 445320 | Other | 632 | $473.0M | $748K | 10.7% |
| 457110 | Other | 616 | $1.29B | $2.1M | 10.5% |
| 722511 | Full-Service Restaurants | 440 | $288.2M | $655K | 7.5% |
| 447110 | Gasoline Stations with Convenience Stores | 432 | $822.5M | $1.9M | 7.3% |
| 445310 | Beer, Wine, and Liquor Stores | 296 | $376.3M | $1.3M | 5.0% |
| 722513 | Limited-Service Restaurants | 256 | $131.5M | $514K | 4.4% |
| 445110 | Supermarkets and Other Grocery (except Convenience) Stores | 248 | $221.5M | $893K | 4.2% |
| 811192 | Car Washes | 128 | $256.2M | $2.0M | 2.2% |
| 722515 | Snack and Nonalcoholic Beverage Bars | 104 | $58.7M | $564K | 1.8% |
Geographic Distribution
SBA lending activity for Open Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| California (CA) | 3,208 | $4.84B | 54.6% |
| Texas (TX) | 592 | $1.24B | 10.1% |
| Washington (WA) | 424 | $772.6M | 7.2% |
| Colorado (CO) | 232 | $501.3M | 3.9% |
| Georgia (GA) | 336 | $476.9M | 5.7% |
| New Mexico (NM) | 104 | $277.4M | 1.8% |
| Oregon (OR) | 120 | $272.8M | 2.0% |
| Nevada (NV) | 96 | $204.2M | 1.6% |
| North Carolina (NC) | 80 | $162.6M | 1.4% |
| Arizona (AZ) | 56 | $138.9M | 1.0% |
| Virginia (VA) | 48 | $107.7M | 0.8% |
| Maryland (MD) | 104 | $99.0M | 1.8% |
| Nebraska (NE) | 24 | $84.0M | 0.4% |
| Florida (FL) | 56 | $67.7M | 1.0% |
| South Carolina (SC) | 32 | $66.1M | 0.5% |
| Ohio (OH) | 40 | $64.4M | 0.7% |
| Oklahoma (OK) | 16 | $60.8M | 0.3% |
| Michigan (MI) | 32 | $53.4M | 0.5% |
| Tennessee (TN) | 24 | $47.7M | 0.4% |
| Pennsylvania (PA) | 32 | $45.4M | 0.5% |
| Wyoming (WY) | 48 | $42.7M | 0.8% |
| Arkansas (AR) | 24 | $41.9M | 0.4% |
| Massachusetts (MA) | 8 | $40.0M | 0.1% |
| North Dakota (ND) | 8 | $40.0M | 0.1% |
| Louisiana (LA) | 16 | $36.5M | 0.3% |
| Utah (UT) | 16 | $31.2M | 0.3% |
| West Virginia (WV) | 8 | $30.8M | 0.1% |
| New York (NY) | 24 | $27.9M | 0.4% |
| Kansas (KS) | 8 | $23.3M | 0.1% |
| Alabama (AL) | 24 | $20.4M | 0.4% |
| Missouri (MO) | 8 | $13.8M | 0.1% |
| Kentucky (KY) | 8 | $7.7M | 0.1% |
| District of Columbia (DC) | 8 | $6.1M | 0.1% |
| Wisconsin (WI) | 8 | $5.5M | 0.1% |
| Illinois (IL) | 8 | $4.6M | 0.1% |
Why Choose Open Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 5,880 SBA loans approved, totaling $9.95B in financing
- ✓Industry Expertise: Specialized focus on Hotels (except Casino Hotels) and Motels, Other, Other
- ✓Competitive Terms: Average interest rate of 7.34% with flexible term lengths averaging 236 months
- ✓Loan Range: Loan sizes from $90K to $5.0M, with an average of $1.7M
- ✓Nationwide Reach: Active lending in 35 states, with strong presence in CA, TX, WA
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, other, other, full-service restaurants. 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 7.34% and average term length of 236 months (approximately 20 years). Loan sizes range from $90K to $5.0M, with an average loan size of $1.7M.
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 5,880 SBA loans totaling $9.95B 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 Open Bank lend in?
Open Bank provides SBA 7(a) financing with particularly strong presence in CA, TX, WA, 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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