Palmetto State Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Palmetto State Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 561730 | Landscaping Services | 1 | $64K | $64K | 5.0% |
| 541110 | Offices of Lawyers | 1 | $15K | $15K | 5.0% |
| 336412 | Aircraft Engine and Engine Parts Manufacturing | 1 | $1.0M | $1.0M | 5.0% |
| 339999 | All Other Miscellaneous Manufacturing | 1 | $150K | $150K | 5.0% |
Geographic Distribution
SBA lending activity for Palmetto State Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| South Carolina (SC) | 18 | $3.3M | 90.0% |
| Massachusetts (MA) | 2 | $300K | 10.0% |
Why Choose Palmetto State Bank?
Based on SBA 7(a) lending track record from 1992-2011
- ✓Proven Track Record: 20 SBA loans approved, totaling $3.6M in financing
- ✓Industry Expertise: Specialized focus on Landscaping Services, Offices of Lawyers, Aircraft Engine and Engine Parts Manufacturing
- ✓Competitive Terms: Average interest rate of 5.50% with flexible term lengths averaging 100 months
- ✓Loan Range: Loan sizes from $15K to $1.0M, with an average of $179K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in SC, MA
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 Palmetto State Bank SBA lending
What types of businesses does Palmetto State Bank typically finance?
Palmetto State Bank specializes in SBA 7(a) lending to specific industries including landscaping services, offices of lawyers, aircraft engine and engine parts manufacturing, all other miscellaneous manufacturing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Palmetto State Bank's typical SBA loan terms?
Palmetto State Bank's SBA 7(a) loans typically feature an average interest rate of 5.50% and average term length of 100 months (approximately 8 years). Loan sizes range from $15K to $1.0M, with an average loan size of $179K.
Do I need a business valuation for a Palmetto State Bank SBA loan?
Yes, Palmetto 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 Palmetto State Bank compare to other SBA lenders?
Palmetto State Bank has originated 20 SBA loans totaling $3.6M since 1992. 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 Palmetto State Bank lend in?
Palmetto State Bank provides SBA 7(a) financing with particularly strong presence in SC, MA. 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.
Get your certified valuation from Fair Market Value.