Primis Bank
SBA 7(a) Lending Profile · FY 2021 analysis
Industry Focus
Top industries served by Primis Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722513 | Limited-Service Restaurants | 40 | $16.7M | $418K | 7.9% |
| 621111 | Offices of Physicians (except Mental Health Specialists) | 32 | $47.5M | $1.5M | 6.3% |
| 541330 | Engineering Services | 24 | $22.9M | $953K | 4.8% |
| 621210 | Offices of Dentists | 24 | $42.7M | $1.8M | 4.8% |
| 722511 | Full-Service Restaurants | 24 | $17.6M | $735K | 4.8% |
| 611620 | Sports and Recreation Instruction | 24 | $2.9M | $121K | 4.8% |
| 811111 | General Automotive Repair | 24 | $6.9M | $287K | 4.8% |
| 321992 | Prefabricated Wood Building Manufacturing | 16 | $40.0M | $2.5M | 3.2% |
| 336612 | Boat Building | 16 | $37.6M | $2.4M | 3.2% |
| 445110 | Supermarkets and Other Grocery (except Convenience) Stores | 16 | $43.3M | $2.7M | 3.2% |
Geographic Distribution
SBA lending activity for Primis Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Virginia (VA) | 288 | $109.6M | 57.1% |
| Texas (TX) | 40 | $49.7M | 7.9% |
| Maryland (MD) | 32 | $45.1M | 6.3% |
| Ohio (OH) | 24 | $40.1M | 4.8% |
| Illinois (IL) | 16 | $38.1M | 3.2% |
| Georgia (GA) | 16 | $35.2M | 3.2% |
| California (CA) | 16 | $30.7M | 3.2% |
| New Mexico (NM) | 16 | $22.7M | 3.2% |
| Tennessee (TN) | 8 | $9.9M | 1.6% |
| Florida (FL) | 16 | $9.2M | 3.2% |
| Utah (UT) | 8 | $7.6M | 1.6% |
| New York (NY) | 8 | $5.8M | 1.6% |
| District of Columbia (DC) | 8 | $3.6M | 1.6% |
| Nevada (NV) | 8 | $2.6M | 1.6% |
Why Choose Primis Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 504 SBA loans approved, totaling $410.0M in financing
- ✓Industry Expertise: Specialized focus on Limited-Service Restaurants, Offices of Physicians (except Mental Health Specialists), Engineering Services
- ✓Competitive Terms: Average interest rate of 7.49% with flexible term lengths averaging 152 months
- ✓Loan Range: Loan sizes from $20K to $4.2M, with an average of $813K
- ✓Nationwide Reach: Active lending in 14 states, with strong presence in VA, TX, MD
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 Primis Bank SBA lending
What types of businesses does Primis Bank typically finance?
Primis Bank specializes in SBA 7(a) lending to specific industries including limited-service restaurants, offices of physicians (except mental health specialists), engineering services, offices of dentists. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Primis Bank's typical SBA loan terms?
Primis Bank's SBA 7(a) loans typically feature an average interest rate of 7.49% and average term length of 152 months (approximately 13 years). Loan sizes range from $20K to $4.2M, with an average loan size of $813K.
Do I need a business valuation for a Primis Bank SBA loan?
Yes, Primis 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 Primis Bank compare to other SBA lenders?
Primis Bank has originated 504 SBA loans totaling $410.0M 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 Primis Bank lend in?
Primis Bank provides SBA 7(a) financing with particularly strong presence in VA, TX, MD, OH, FL. 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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Explore Industry Reports →Need a Business Valuation?
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