Ridgewood Savings Bank
SBA 7(a) Lending Profile · FY 2025 analysis
Industry Focus
Top industries served by Ridgewood Savings Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 56 | $5.3M | $95K | 31.8% |
| 236118 | Residential Remodelers | 8 | $1.2M | $150K | 4.5% |
| 721199 | All Other Traveler Accommodation | 8 | $1.4M | $170K | 4.5% |
| 611110 | Elementary and Secondary Schools | 8 | $800K | $100K | 4.5% |
| 722513 | Limited-Service Restaurants | 8 | $2.0M | $250K | 4.5% |
| 238210 | Electrical Contractors | 8 | $1.2M | $150K | 4.5% |
| 449129 | Other | 8 | $1.0M | $130K | 4.5% |
| 541199 | All Other Legal Services | 8 | $1.3M | $160K | 4.5% |
| 812112 | Beauty Salons | 8 | $800K | $100K | 4.5% |
| 531130 | Lessors of Miniwarehouses and Self-Storage Units | 8 | $1.2M | $150K | 4.5% |
Geographic Distribution
SBA lending activity for Ridgewood Savings Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New York (NY) | 176 | $26.3M | 100.0% |
Why Choose Ridgewood Savings Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 176 SBA loans approved, totaling $26.3M in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Residential Remodelers, All Other Traveler Accommodation
- ✓Competitive Terms: Average interest rate of 10.77% with flexible term lengths averaging 118 months
- ✓Loan Range: Loan sizes from $50K to $420K, with an average of $149K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in NY
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 Ridgewood Savings Bank SBA lending
What types of businesses does Ridgewood Savings Bank typically finance?
Ridgewood Savings Bank specializes in SBA 7(a) lending to specific industries including full-service restaurants, residential remodelers, all other traveler accommodation, elementary and secondary schools. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Ridgewood Savings Bank's typical SBA loan terms?
Ridgewood Savings Bank's SBA 7(a) loans typically feature an average interest rate of 10.77% and average term length of 118 months (approximately 10 years). Loan sizes range from $50K to $420K, with an average loan size of $149K.
Do I need a business valuation for a Ridgewood Savings Bank SBA loan?
Yes, Ridgewood Savings 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 Ridgewood Savings Bank compare to other SBA lenders?
Ridgewood Savings Bank has originated 176 SBA loans totaling $26.3M 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 Ridgewood Savings Bank lend in?
Ridgewood Savings Bank provides SBA 7(a) financing with particularly strong presence in 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.
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