PromiseOne Bank
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by PromiseOne Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 721110 | Hotels (except Casino Hotels) and Motels | 608 | $1.24B | $2.0M | 20.9% |
| 722511 | Full-Service Restaurants | 328 | $177.8M | $542K | 11.3% |
| 447110 | Gasoline Stations with Convenience Stores | 184 | $258.0M | $1.4M | 6.3% |
| 112320 | Broilers and Other Meat Type | 168 | $162.2M | $966K | 5.8% |
| 722513 | Limited-Service Restaurants | 160 | $79.5M | $497K | 5.5% |
| 445310 | Beer, Wine, and Liquor Stores | 160 | $185.4M | $1.2M | 5.5% |
| 457110 | Other | 152 | $220.5M | $1.5M | 5.2% |
| 445320 | Other | 88 | $140.6M | $1.6M | 3.0% |
| 446120 | Cosmetics, Beauty Supplies, and Perfume Stores | 64 | $42.5M | $664K | 2.2% |
| 445110 | Supermarkets and Other Grocery (except Convenience) Stores | 64 | $46.3M | $724K | 2.2% |
Geographic Distribution
SBA lending activity for PromiseOne Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Georgia (GA) | 1,064 | $1.21B | 36.5% |
| Texas (TX) | 344 | $338.2M | 11.8% |
| Florida (FL) | 160 | $290.4M | 5.5% |
| Pennsylvania (PA) | 304 | $189.6M | 10.4% |
| Colorado (CO) | 136 | $188.1M | 4.7% |
| North Carolina (NC) | 104 | $160.3M | 3.6% |
| South Carolina (SC) | 80 | $137.9M | 2.7% |
| New York (NY) | 160 | $133.5M | 5.5% |
| Maryland (MD) | 80 | $102.5M | 2.7% |
| Alabama (AL) | 104 | $84.0M | 3.6% |
| Ohio (OH) | 48 | $55.9M | 1.6% |
| Kentucky (KY) | 16 | $31.2M | 0.5% |
| Tennessee (TN) | 32 | $29.5M | 1.1% |
| Michigan (MI) | 8 | $29.0M | 0.3% |
| New Jersey (NJ) | 64 | $28.5M | 2.2% |
| Virginia (VA) | 64 | $24.8M | 2.2% |
| Louisiana (LA) | 8 | $22.2M | 0.3% |
| Indiana (IN) | 24 | $21.2M | 0.8% |
| New Mexico (NM) | 16 | $19.5M | 0.5% |
| Mississippi (MS) | 8 | $16.6M | 0.3% |
| Illinois (IL) | 24 | $9.9M | 0.8% |
| Missouri (MO) | 8 | $9.0M | 0.3% |
| Delaware (DE) | 24 | $8.1M | 0.8% |
| Oklahoma (OK) | 8 | $6.1M | 0.3% |
| District of Columbia (DC) | 16 | $5.8M | 0.5% |
| California (CA) | 8 | $4.0M | 0.3% |
Why Choose PromiseOne Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 2,912 SBA loans approved, totaling $3.16B in financing
- ✓Industry Expertise: Specialized focus on Hotels (except Casino Hotels) and Motels, Full-Service Restaurants, Gasoline Stations with Convenience Stores
- ✓Competitive Terms: Average interest rate of 6.87% with flexible term lengths averaging 227 months
- ✓Loan Range: Loan sizes from $83K to $5.0M, with an average of $1.1M
- ✓Nationwide Reach: Active lending in 26 states, with strong presence in GA, TX, PA
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 PromiseOne Bank SBA lending
What types of businesses does PromiseOne Bank typically finance?
PromiseOne Bank specializes in SBA 7(a) lending to specific industries including hotels (except casino hotels) and motels, full-service restaurants, gasoline stations with convenience stores, broilers and other meat type. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are PromiseOne Bank's typical SBA loan terms?
PromiseOne Bank's SBA 7(a) loans typically feature an average interest rate of 6.87% and average term length of 227 months (approximately 19 years). Loan sizes range from $83K to $5.0M, with an average loan size of $1.1M.
Do I need a business valuation for a PromiseOne Bank SBA loan?
Yes, PromiseOne 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 PromiseOne Bank compare to other SBA lenders?
PromiseOne Bank has originated 2,912 SBA loans totaling $3.16B 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 PromiseOne Bank lend in?
PromiseOne Bank provides SBA 7(a) financing with particularly strong presence in GA, TX, PA, FL, NY. 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?
Professional valuations are often required for SBA loans over $250,000.
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