Shoreham Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Shoreham Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 721110 | Hotels (except Casino Hotels) and Motels | 323 | $830.4M | $2.6M | 23.3% |
| 811111 | General Automotive Repair | 83 | $27.8M | $335K | 6.0% |
| 441120 | Used Car Dealers | 23 | $9.9M | $432K | 1.7% |
| 445110 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 16 | $6.3M | $394K | 1.2% |
| 621210 | Offices of Dentists | 16 | $7.5M | $470K | 1.2% |
| 624410 | Child Care Services | 14 | $4.2M | $300K | 1.0% |
| 722511 | Full-Service Restaurants | 13 | $9.9M | $761K | 0.9% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 11 | $2.9M | $266K | 0.8% |
| 484110 | General Freight Trucking, Local | 9 | $1.6M | $179K | 0.6% |
| 236118 | Residential Remodelers | 9 | $1.3M | $141K | 0.6% |
Geographic Distribution
SBA lending activity for Shoreham Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Ohio (OH) | 64 | $153.1M | 4.6% |
| Michigan (MI) | 66 | $147.7M | 4.8% |
| New York (NY) | 223 | $131.2M | 16.1% |
| Indiana (IN) | 43 | $88.3M | 3.1% |
| Massachusetts (MA) | 217 | $78.7M | 15.6% |
| Florida (FL) | 45 | $66.6M | 3.2% |
| Connecticut (CT) | 99 | $64.6M | 7.1% |
| Pennsylvania (PA) | 33 | $58.3M | 2.4% |
| Rhode Island (RI) | 242 | $57.2M | 17.4% |
| Illinois (IL) | 25 | $43.5M | 1.8% |
| Wisconsin (WI) | 16 | $41.6M | 1.2% |
| Texas (TX) | 20 | $31.3M | 1.4% |
| North Carolina (NC) | 29 | $28.0M | 2.1% |
| Tennessee (TN) | 10 | $23.5M | 0.7% |
| Kansas (KS) | 8 | $21.6M | 0.6% |
| New Mexico (NM) | 7 | $21.3M | 0.5% |
| Maryland (MD) | 16 | $20.6M | 1.2% |
| New Jersey (NJ) | 40 | $18.7M | 2.9% |
| Missouri (MO) | 6 | $14.2M | 0.4% |
| Mississippi (MS) | 5 | $12.4M | 0.4% |
| Iowa (IA) | 7 | $11.1M | 0.5% |
| Virginia (VA) | 17 | $10.8M | 1.2% |
| Louisiana (LA) | 4 | $10.6M | 0.3% |
| Georgia (GA) | 13 | $10.2M | 0.9% |
| Nevada (NV) | 5 | $8.4M | 0.4% |
| Maine (ME) | 22 | $8.3M | 1.6% |
| Alabama (AL) | 7 | $8.3M | 0.5% |
| California (CA) | 21 | $8.1M | 1.5% |
| Oregon (OR) | 3 | $7.8M | 0.2% |
| North Dakota (ND) | 3 | $7.4M | 0.2% |
| Arkansas (AR) | 2 | $6.4M | 0.1% |
| South Carolina (SC) | 13 | $6.1M | 0.9% |
| Oklahoma (OK) | 2 | $6.1M | 0.1% |
| Nebraska (NE) | 3 | $5.2M | 0.2% |
| Washington (WA) | 3 | $4.7M | 0.2% |
| South Dakota (SD) | 6 | $4.7M | 0.4% |
| Colorado (CO) | 2 | $4.5M | 0.1% |
| New Hampshire (NH) | 12 | $4.3M | 0.9% |
| Minnesota (MN) | 2 | $3.1M | 0.1% |
| Kentucky (KY) | 4 | $3.1M | 0.3% |
| Idaho (ID) | 2 | $2.4M | 0.1% |
| District of Columbia (DC) | 4 | $1.2M | 0.3% |
| West Virginia (WV) | 1 | $1.2M | 0.1% |
| Arizona (AZ) | 6 | $1.1M | 0.4% |
| Delaware (DE) | 3 | $1.0M | 0.2% |
| Vermont (VT) | 1 | $500K | 0.1% |
| Utah (UT) | 2 | $250K | 0.1% |
| Montana (MT) | 2 | $250K | 0.1% |
| Wyoming (WY) | 2 | $250K | 0.1% |
Why Choose Shoreham Bank?
Based on SBA 7(a) lending track record from 1992-2026
- ✓Proven Track Record: 1,388 SBA loans approved, totaling $1.27B in financing
- ✓Industry Expertise: Specialized focus on Hotels (except Casino Hotels) and Motels, General Automotive Repair, Used Car Dealers
- ✓Competitive Terms: Average interest rate of 8.09% with flexible term lengths averaging 232 months
- ✓Loan Range: Loan sizes from $100 to $5.0M, with an average of $915K
- ✓Nationwide Reach: Active lending in 49 states, with strong presence in RI, NY, 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 Shoreham Bank SBA lending
What types of businesses does Shoreham Bank typically finance?
Shoreham Bank specializes in SBA 7(a) lending to specific industries including hotels (except casino hotels) and motels, general automotive repair, used car dealers, supermarkets and other grocery retailers (except convenience retailers). They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Shoreham Bank's typical SBA loan terms?
Shoreham Bank's SBA 7(a) loans typically feature an average interest rate of 8.09% and average term length of 232 months (approximately 19 years). Loan sizes range from $100 to $5.0M, with an average loan size of $915K.
Do I need a business valuation for a Shoreham Bank SBA loan?
Yes, Shoreham 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 Shoreham Bank compare to other SBA lenders?
Shoreham Bank has originated 1,388 SBA loans totaling $1.27B since 1992. 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 Shoreham Bank lend in?
Shoreham Bank provides SBA 7(a) financing with particularly strong presence in RI, NY, MA, CT, MI. 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.
Get your certified valuation from Fair Market Value.