Pilgrim Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Pilgrim Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 213112 | Support Activities for Oil and Gas Operations | 2 | $639K | $320K | 5.1% |
| 484220 | Specialized Freight (except Used Goods) Trucking, Local | 2 | $117K | $58K | 5.1% |
| 621340 | Offices of Physical, Occupational and Speech Therapists, and Audiologists | 2 | $169K | $85K | 5.1% |
| 713940 | Fitness and Recreational Sports Centers | 2 | $110K | $55K | 5.1% |
| 621610 | Home Health Care Services | 1 | $100K | $100K | 2.6% |
| 713950 | Bowling Centers | 1 | $380K | $380K | 2.6% |
| 812320 | Drycleaning and Laundry Services (except Coin-Operated) | 1 | $74K | $74K | 2.6% |
| 326191 | Plastics Plumbing Fixture Manufacturing | 1 | $37K | $37K | 2.6% |
| 621310 | Offices of Chiropractors | 1 | $99K | $99K | 2.6% |
| 314999 | All Other Miscellaneous Textile Product Mills | 1 | $143K | $143K | 2.6% |
Geographic Distribution
SBA lending activity for Pilgrim Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Texas (TX) | 37 | $5.3M | 94.9% |
| Oklahoma (OK) | 1 | $116K | 2.6% |
| Louisiana (LA) | 1 | $99K | 2.6% |
Why Choose Pilgrim Bank?
Based on SBA 7(a) lending track record from 1991-2015
- ✓Proven Track Record: 39 SBA loans approved, totaling $5.5M in financing
- ✓Industry Expertise: Specialized focus on Support Activities for Oil and Gas Operations, Specialized Freight (except Used Goods) Trucking, Local, Offices of Physical, Occupational and Speech Therapists, and Audiologists
- ✓Competitive Terms: Average interest rate of 6.00% with flexible term lengths averaging 94 months
- ✓Loan Range: Loan sizes from $30K to $784K, with an average of $141K
- ✓Nationwide Reach: Active lending in 3 states, with strong presence in TX, LA, OK
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 Pilgrim Bank SBA lending
What types of businesses does Pilgrim Bank typically finance?
Pilgrim Bank specializes in SBA 7(a) lending to specific industries including support activities for oil and gas operations, specialized freight (except used goods) trucking, local, offices of physical, occupational and speech therapists, and audiologists, fitness and recreational sports centers. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Pilgrim Bank's typical SBA loan terms?
Pilgrim Bank's SBA 7(a) loans typically feature an average interest rate of 6.00% and average term length of 94 months (approximately 8 years). Loan sizes range from $30K to $784K, with an average loan size of $141K.
Do I need a business valuation for a Pilgrim Bank SBA loan?
Yes, Pilgrim 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 Pilgrim Bank compare to other SBA lenders?
Pilgrim Bank has originated 39 SBA loans totaling $5.5M since 1991. 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 Pilgrim Bank lend in?
Pilgrim Bank provides SBA 7(a) financing with particularly strong presence in TX, LA, OK. 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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