Reading Co-Operative Bank
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by Reading Co-Operative Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 713940 | Fitness and Recreational Sports Centers | 8 | $4.4M | $550K | 14.3% |
| 492110 | Couriers | 8 | $2.8M | $350K | 14.3% |
| 722513 | Limited-Service Restaurants | 8 | $336K | $42K | 14.3% |
| 456120 | Other | 8 | $960K | $120K | 14.3% |
| 236220 | Commercial and Institutional Building Construction | 8 | $4.0M | $500K | 14.3% |
| 561311 | Employment Placement Agencies | 8 | $1.2M | $150K | 14.3% |
| 445110 | Supermarkets and Other Grocery (except Convenience) Stores | 8 | $2.4M | $300K | 14.3% |
Geographic Distribution
SBA lending activity for Reading Co-Operative Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Massachusetts (MA) | 56 | $16.1M | 100.0% |
Why Choose Reading Co-Operative Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 56 SBA loans approved, totaling $16.1M in financing
- ✓Industry Expertise: Specialized focus on Fitness and Recreational Sports Centers, Couriers, Limited-Service Restaurants
- ✓Competitive Terms: Average interest rate of 8.64% with flexible term lengths averaging 94 months
- ✓Loan Range: Loan sizes from $42K to $550K, with an average of $287K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MA
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 Reading Co-Operative Bank SBA lending
What types of businesses does Reading Co-Operative Bank typically finance?
Reading Co-Operative Bank specializes in SBA 7(a) lending to specific industries including fitness and recreational sports centers, couriers, limited-service restaurants, other. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Reading Co-Operative Bank's typical SBA loan terms?
Reading Co-Operative Bank's SBA 7(a) loans typically feature an average interest rate of 8.64% and average term length of 94 months (approximately 8 years). Loan sizes range from $42K to $550K, with an average loan size of $287K.
Do I need a business valuation for a Reading Co-Operative Bank SBA loan?
Yes, Reading Co-Operative 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 Reading Co-Operative Bank compare to other SBA lenders?
Reading Co-Operative Bank has originated 56 SBA loans totaling $16.1M 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 Reading Co-Operative Bank lend in?
Reading Co-Operative Bank provides SBA 7(a) financing with particularly strong presence in MA. 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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