PeoplesBank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by PeoplesBank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 541380 | Testing Laboratories | 16 | $2.0M | $124K | 22.2% |
| 311824 | Dry Pasta, Dough, and Flour Mixes Manufacturing from Purchased Flour | 16 | $13.7M | $857K | 22.2% |
| 238210 | Electrical Contractors | 8 | $254K | $32K | 11.1% |
| 423610 | Electrical Apparatus and Equipment, Wiring Supplies, and Related Equip | 8 | $20.6M | $2.6M | 11.1% |
| 484110 | General Freight Trucking, Local | 8 | $424K | $53K | 11.1% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 8 | $400K | $50K | 11.1% |
| 523930 | Investment Advice | 8 | $3.7M | $467K | 11.1% |
Geographic Distribution
SBA lending activity for PeoplesBank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Connecticut (CT) | 24 | $34.3M | 33.3% |
| Massachusetts (MA) | 48 | $6.8M | 66.7% |
Why Choose PeoplesBank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 72 SBA loans approved, totaling $41.1M in financing
- ✓Industry Expertise: Specialized focus on Testing Laboratories, Dry Pasta, Dough, and Flour Mixes Manufacturing from Purchased Flour, Electrical Contractors
- ✓Competitive Terms: Average interest rate of 7.34% with flexible term lengths averaging 85 months
- ✓Loan Range: Loan sizes from $32K to $2.6M, with an average of $571K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in MA, CT
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 PeoplesBank SBA lending
What types of businesses does PeoplesBank typically finance?
PeoplesBank specializes in SBA 7(a) lending to specific industries including testing laboratories, dry pasta, dough, and flour mixes manufacturing from purchased flour, electrical contractors, electrical apparatus and equipment, wiring supplies, and related equip. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are PeoplesBank's typical SBA loan terms?
PeoplesBank's SBA 7(a) loans typically feature an average interest rate of 7.34% and average term length of 85 months (approximately 7 years). Loan sizes range from $32K to $2.6M, with an average loan size of $571K.
Do I need a business valuation for a PeoplesBank SBA loan?
Yes, PeoplesBank 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 PeoplesBank compare to other SBA lenders?
PeoplesBank has originated 72 SBA loans totaling $41.1M 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 PeoplesBank lend in?
PeoplesBank provides SBA 7(a) financing with particularly strong presence in MA, CT. 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.
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Professional valuations are often required for SBA loans over $250,000.
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