Provident Bank
SBA 7(a) Lending Profile · FY 2021 analysis
Industry Focus
Top industries served by Provident Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 445310 | Beer, Wine, and Liquor Stores | 376 | $274.9M | $731K | 15.8% |
| 624410 | Child Day Care Services | 200 | $170.1M | $850K | 8.4% |
| 722513 | Limited-Service Restaurants | 128 | $101.8M | $796K | 5.4% |
| 445320 | Other | 128 | $134.5M | $1.1M | 5.4% |
| 722511 | Full-Service Restaurants | 80 | $83.9M | $1.0M | 3.4% |
| 541110 | Offices of Lawyers | 48 | $62.1M | $1.3M | 2.0% |
| 611699 | All Other Miscellaneous Schools and Instruction | 48 | $19.5M | $406K | 2.0% |
| 811192 | Car Washes | 48 | $78.7M | $1.6M | 2.0% |
| 323111 | Commercial Gravure Printing | 40 | $27.2M | $679K | 1.7% |
| 812112 | Beauty Salons | 40 | $12.2M | $305K | 1.7% |
Geographic Distribution
SBA lending activity for Provident Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New Jersey (NJ) | 1,632 | $1.53B | 68.7% |
| New York (NY) | 544 | $470.0M | 22.9% |
| Pennsylvania (PA) | 136 | $154.7M | 5.7% |
| Florida (FL) | 16 | $40.0M | 0.7% |
| Delaware (DE) | 16 | $35.0M | 0.7% |
| Connecticut (CT) | 8 | $16.0M | 0.3% |
| Wisconsin (WI) | 16 | $10.4M | 0.7% |
| Virginia (VA) | 8 | $4.8M | 0.3% |
Why Choose Provident Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 2,376 SBA loans approved, totaling $2.26B in financing
- ✓Industry Expertise: Specialized focus on Beer, Wine, and Liquor Stores, Child Day Care Services, Limited-Service Restaurants
- ✓Competitive Terms: Average interest rate of 7.61% with flexible term lengths averaging 176 months
- ✓Loan Range: Loan sizes from $75K to $5.0M, with an average of $952K
- ✓Nationwide Reach: Active lending in 8 states, with strong presence in NJ, NY, 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 Provident Bank SBA lending
What types of businesses does Provident Bank typically finance?
Provident Bank specializes in SBA 7(a) lending to specific industries including beer, wine, and liquor stores, child day care services, limited-service restaurants, other. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Provident Bank's typical SBA loan terms?
Provident Bank's SBA 7(a) loans typically feature an average interest rate of 7.61% and average term length of 176 months (approximately 15 years). Loan sizes range from $75K to $5.0M, with an average loan size of $952K.
Do I need a business valuation for a Provident Bank SBA loan?
Yes, Provident 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 Provident Bank compare to other SBA lenders?
Provident Bank has originated 2,376 SBA loans totaling $2.26B 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 Provident Bank lend in?
Provident Bank provides SBA 7(a) financing with particularly strong presence in NJ, NY, PA, WI, 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.
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.
Get your certified valuation from Fair Market Value.