Salem Co-operative Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Salem Co-operative Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 332322 | Sheet Metal Work Manufacturing | 2 | $236K | $118K | 6.9% |
| 561730 | Landscaping Services | 2 | $150K | $75K | 6.9% |
| 541330 | Engineering Services | 2 | $76K | $38K | 6.9% |
| 812112 | Beauty Salons | 2 | $210K | $105K | 6.9% |
| 532490 | Other Commercial and Industrial Machinery and Equipment Rental and Leasing | 1 | $45K | $45K | 3.4% |
| 238110 | Poured Concrete Foundation and Structure Contractors | 1 | $20K | $20K | 3.4% |
| 811411 | Home and Garden Equipment Repair and Maintenance | 1 | $10K | $10K | 3.4% |
| 812910 | Pet Care (except Veterinary) Services | 1 | $30K | $30K | 3.4% |
| 531120 | Lessors of Nonresidential Buildings (except Miniwarehouses) | 1 | $125K | $125K | 3.4% |
| 722513 | Limited-Service Restaurants | 1 | $255K | $255K | 3.4% |
Geographic Distribution
SBA lending activity for Salem Co-operative Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New Hampshire (NH) | 21 | $1.7M | 72.4% |
| Massachusetts (MA) | 8 | $745K | 27.6% |
Why Choose Salem Co-operative Bank?
Based on SBA 7(a) lending track record from 2008-2019
- ✓Proven Track Record: 29 SBA loans approved, totaling $2.4M in financing
- ✓Industry Expertise: Specialized focus on Sheet Metal Work Manufacturing, Landscaping Services, Engineering Services
- ✓Competitive Terms: Average interest rate of 5.72% with flexible term lengths averaging 87 months
- ✓Loan Range: Loan sizes from $8K to $255K, with an average of $83K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in NH, 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 Salem Co-operative Bank SBA lending
What types of businesses does Salem Co-operative Bank typically finance?
Salem Co-operative Bank specializes in SBA 7(a) lending to specific industries including sheet metal work manufacturing, landscaping services, engineering services, beauty salons. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Salem Co-operative Bank's typical SBA loan terms?
Salem Co-operative Bank's SBA 7(a) loans typically feature an average interest rate of 5.72% and average term length of 87 months (approximately 7 years). Loan sizes range from $8K to $255K, with an average loan size of $83K.
Do I need a business valuation for a Salem Co-operative Bank SBA loan?
Yes, Salem 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 Salem Co-operative Bank compare to other SBA lenders?
Salem Co-operative Bank has originated 29 SBA loans totaling $2.4M since 2008. 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 Salem Co-operative Bank lend in?
Salem Co-operative Bank provides SBA 7(a) financing with particularly strong presence in NH, 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?
Certified valuations are often required for SBA loans over $250,000.
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