Select Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Select Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 332999 | All Other Miscellaneous Fabricated Metal Product Manufacturing | 32 | $4.9M | $152K | 13.8% |
| 621511 | Medical Laboratories | 16 | $2.0M | $124K | 6.9% |
| 722511 | Full-Service Restaurants | 16 | $2.8M | $177K | 6.9% |
| 532490 | Other Commercial and Industrial Machinery and Equipment Rental and Lea | 16 | $8.6M | $540K | 6.9% |
| 423210 | Furniture Merchant Wholesalers | 16 | $2.8M | $175K | 6.9% |
| 621111 | Offices of Physicians (except Mental Health Specialists) | 16 | $4.0M | $250K | 6.9% |
| 623312 | Homes for the Elderly | 16 | $40.2M | $2.5M | 6.9% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 8 | $800K | $100K | 3.4% |
| 722513 | Limited-Service Restaurants | 8 | $2.2M | $280K | 3.4% |
| 541330 | Engineering Services | 8 | $1.2M | $150K | 3.4% |
Geographic Distribution
SBA lending activity for Select Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Virginia (VA) | 200 | $82.4M | 86.2% |
| North Carolina (NC) | 32 | $5.9M | 13.8% |
Why Choose Select Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 232 SBA loans approved, totaling $88.3M in financing
- ✓Industry Expertise: Specialized focus on All Other Miscellaneous Fabricated Metal Product Manufacturing, Medical Laboratories, Full-Service Restaurants
- ✓Competitive Terms: Average interest rate of 9.68% with flexible term lengths averaging 137 months
- ✓Loan Range: Loan sizes from $60K to $4.8M, with an average of $381K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in VA, NC
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 Select Bank SBA lending
What types of businesses does Select Bank typically finance?
Select Bank specializes in SBA 7(a) lending to specific industries including all other miscellaneous fabricated metal product manufacturing, medical laboratories, full-service restaurants, other commercial and industrial machinery and equipment rental and lea. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Select Bank's typical SBA loan terms?
Select Bank's SBA 7(a) loans typically feature an average interest rate of 9.68% and average term length of 137 months (approximately 11 years). Loan sizes range from $60K to $4.8M, with an average loan size of $381K.
Do I need a business valuation for a Select Bank SBA loan?
Yes, Select 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 Select Bank compare to other SBA lenders?
Select Bank has originated 232 SBA loans totaling $88.3M 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 Select Bank lend in?
Select Bank provides SBA 7(a) financing with particularly strong presence in VA, NC. 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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