Redemption Bank
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by Redemption Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722513 | Limited-Service Restaurants | 8 | $2.8M | $345K | 12.5% |
| 423910 | Sporting and Recreational Goods and Supplies Merchant Wholesalers | 8 | $1.0M | $125K | 12.5% |
| 238990 | All Other Specialty Trade Contractors | 8 | $29.2M | $3.7M | 12.5% |
| 449110 | Other | 8 | $2.0M | $250K | 12.5% |
| 621210 | Offices of Dentists | 8 | $2.8M | $347K | 12.5% |
| 485210 | Interurban and Rural Bus Transportation | 8 | $16.0M | $2.0M | 12.5% |
| 541340 | Drafting Services | 8 | $6.7M | $835K | 12.5% |
| 459110 | Other | 8 | $800K | $100K | 12.5% |
Geographic Distribution
SBA lending activity for Redemption Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Utah (UT) | 56 | $45.3M | 87.5% |
| Nevada (NV) | 8 | $16.0M | 12.5% |
Why Choose Redemption Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 64 SBA loans approved, totaling $61.3M in financing
- ✓Industry Expertise: Specialized focus on Limited-Service Restaurants, Sporting and Recreational Goods and Supplies Merchant Wholesalers, All Other Specialty Trade Contractors
- ✓Competitive Terms: Average interest rate of 9.41% with flexible term lengths averaging 96 months
- ✓Loan Range: Loan sizes from $100K to $3.7M, with an average of $957K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in UT, NV
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 Redemption Bank SBA lending
What types of businesses does Redemption Bank typically finance?
Redemption Bank specializes in SBA 7(a) lending to specific industries including limited-service restaurants, sporting and recreational goods and supplies merchant wholesalers, all other specialty trade contractors, other. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Redemption Bank's typical SBA loan terms?
Redemption Bank's SBA 7(a) loans typically feature an average interest rate of 9.41% and average term length of 96 months (approximately 8 years). Loan sizes range from $100K to $3.7M, with an average loan size of $957K.
Do I need a business valuation for a Redemption Bank SBA loan?
Yes, Redemption 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 Redemption Bank compare to other SBA lenders?
Redemption Bank has originated 64 SBA loans totaling $61.3M 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 Redemption Bank lend in?
Redemption Bank provides SBA 7(a) financing with particularly strong presence in UT, NV. 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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