Providence Bank & Trust
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Providence Bank & Trust · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 624410 | Child Care Services | 25 | $6.6M | $264K | 4.3% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 8 | $1.6M | $196K | 1.4% |
| 811192 | Car Washes | 6 | $3.4M | $567K | 1.0% |
| 812310 | Coin-Operated Laundries and Drycleaners | 6 | $1.3M | $220K | 1.0% |
| 811111 | General Automotive Repair | 6 | $1.1M | $185K | 1.0% |
| 621210 | Offices of Dentists | 6 | $751K | $125K | 1.0% |
| 541512 | Computer Systems Design Services | 5 | $1.0M | $200K | 0.9% |
| 621111 | Offices of Physicians (except Mental Health Specialists) | 5 | $625K | $125K | 0.9% |
| 812320 | Drycleaning and Laundry Services (except Coin-Operated) | 4 | $1.3M | $334K | 0.7% |
| 333611 | Turbine and Turbine Generator Set Units Manufacturing | 4 | $1.3M | $319K | 0.7% |
Geographic Distribution
SBA lending activity for Providence Bank & Trust by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Illinois (IL) | 542 | $161.6M | 93.8% |
| Indiana (IN) | 13 | $8.4M | 2.2% |
| Michigan (MI) | 10 | $3.9M | 1.7% |
| Ohio (OH) | 11 | $2.4M | 1.9% |
| Wisconsin (WI) | 2 | $1.1M | 0.3% |
Why Choose Providence Bank & Trust?
Based on SBA 7(a) lending track record from 1991-2024
- ✓Proven Track Record: 578 SBA loans approved, totaling $177.4M in financing
- ✓Industry Expertise: Specialized focus on Child Care Services, Automotive Body, Paint, and Interior Repair and Maintenance, Car Washes
- ✓Competitive Terms: Average interest rate of 6.02% with flexible term lengths averaging 100 months
- ✓Loan Range: Loan sizes from $15K to $4.2M, with an average of $307K
- ✓Nationwide Reach: Active lending in 5 states, with strong presence in IL, IN, OH
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 Providence Bank & Trust SBA lending
What types of businesses does Providence Bank & Trust typically finance?
Providence Bank & Trust specializes in SBA 7(a) lending to specific industries including child care services, automotive body, paint, and interior repair and maintenance, car washes, coin-operated laundries and drycleaners. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Providence Bank & Trust's typical SBA loan terms?
Providence Bank & Trust's SBA 7(a) loans typically feature an average interest rate of 6.02% and average term length of 100 months (approximately 8 years). Loan sizes range from $15K to $4.2M, with an average loan size of $307K.
Do I need a business valuation for a Providence Bank & Trust SBA loan?
Yes, Providence Bank & Trust 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 Providence Bank & Trust compare to other SBA lenders?
Providence Bank & Trust has originated 578 SBA loans totaling $177.4M 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 Providence Bank & Trust lend in?
Providence Bank & Trust provides SBA 7(a) financing with particularly strong presence in IL, IN, OH, MI, WI. 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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