Saco and Biddeford Savings Institution
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Saco and Biddeford Savings Institution
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 541380 | Testing Laboratories | 16 | $3.4M | $213K | 28.6% |
| 311520 | Ice Cream and Frozen Dessert Manufacturing | 8 | $2.4M | $296K | 14.3% |
| 561622 | Locksmiths | 8 | $480K | $60K | 14.3% |
| 722513 | Limited-Service Restaurants | 8 | $2.4M | $300K | 14.3% |
| 812112 | Beauty Salons | 8 | $200K | $25K | 14.3% |
| 722410 | Drinking Places (Alcoholic Beverages) | 8 | $2.4M | $301K | 14.3% |
Geographic Distribution
SBA lending activity for Saco and Biddeford Savings Institution by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Maine (ME) | 56 | $11.3M | 100.0% |
Why Choose Saco and Biddeford Savings Institution?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 56 SBA loans approved, totaling $11.3M in financing
- ✓Industry Expertise: Specialized focus on Testing Laboratories, Ice Cream and Frozen Dessert Manufacturing, Locksmiths
- ✓Competitive Terms: Average interest rate of 7.96% with flexible term lengths averaging 112 months
- ✓Loan Range: Loan sizes from $25K to $350K, with an average of $201K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in ME
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 Saco and Biddeford Savings Institution SBA lending
What types of businesses does Saco and Biddeford Savings Institution typically finance?
Saco and Biddeford Savings Institution specializes in SBA 7(a) lending to specific industries including testing laboratories, ice cream and frozen dessert manufacturing, locksmiths, limited-service restaurants. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Saco and Biddeford Savings Institution's typical SBA loan terms?
Saco and Biddeford Savings Institution's SBA 7(a) loans typically feature an average interest rate of 7.96% and average term length of 112 months (approximately 9 years). Loan sizes range from $25K to $350K, with an average loan size of $201K.
Do I need a business valuation for a Saco and Biddeford Savings Institution SBA loan?
Yes, Saco and Biddeford Savings Institution 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 Saco and Biddeford Savings Institution compare to other SBA lenders?
Saco and Biddeford Savings Institution has originated 56 SBA loans totaling $11.3M 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 Saco and Biddeford Savings Institution lend in?
Saco and Biddeford Savings Institution provides SBA 7(a) financing with particularly strong presence in ME. 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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