Shoreham Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Shoreham Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 721110 | Hotels (except Casino Hotels) and Motels | 1,696 | $5.06B | $3.0M | 57.5% |
| 722511 | Full-Service Restaurants | 64 | $36.8M | $575K | 2.2% |
| 484110 | General Freight Trucking, Local | 56 | $6.4M | $114K | 1.9% |
| 236118 | Residential Remodelers | 56 | $7.3M | $130K | 1.9% |
| 722513 | Limited-Service Restaurants | 48 | $27.4M | $571K | 1.6% |
| 722515 | Snack and Nonalcoholic Beverage Bars | 40 | $6.6M | $165K | 1.4% |
| 445320 | Other | 40 | $52.0M | $1.3M | 1.4% |
| 531390 | Other Activities Related to Real Estate | 40 | $11.5M | $288K | 1.4% |
| 441330 | Other | 32 | $4.2M | $131K | 1.1% |
| 812990 | All Other Personal Services | 32 | $5.0M | $157K | 1.1% |
Geographic Distribution
SBA lending activity for Shoreham Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Ohio (OH) | 376 | $1.02B | 12.7% |
| Michigan (MI) | 384 | $916.0M | 13.0% |
| Indiana (IN) | 288 | $598.5M | 9.8% |
| Florida (FL) | 136 | $352.1M | 4.6% |
| Wisconsin (WI) | 112 | $323.4M | 3.8% |
| Pennsylvania (PA) | 96 | $297.5M | 3.3% |
| Texas (TX) | 128 | $194.9M | 4.3% |
| Illinois (IL) | 120 | $180.5M | 4.1% |
| Kansas (KS) | 56 | $153.9M | 1.9% |
| Connecticut (CT) | 40 | $130.8M | 1.4% |
| New Mexico (NM) | 40 | $116.9M | 1.4% |
| Missouri (MO) | 48 | $113.4M | 1.6% |
| New York (NY) | 104 | $106.5M | 3.5% |
| Tennessee (TN) | 48 | $103.6M | 1.6% |
| Iowa (IA) | 56 | $88.5M | 1.9% |
| Louisiana (LA) | 32 | $85.0M | 1.1% |
| Maryland (MD) | 48 | $76.9M | 1.6% |
| Rhode Island (RI) | 88 | $71.5M | 3.0% |
| Alabama (AL) | 56 | $66.3M | 1.9% |
| Nevada (NV) | 24 | $63.2M | 0.8% |
| Oregon (OR) | 24 | $62.5M | 0.8% |
| Georgia (GA) | 64 | $56.3M | 2.2% |
| North Carolina (NC) | 56 | $55.4M | 1.9% |
| Massachusetts (MA) | 56 | $49.2M | 1.9% |
| California (CA) | 128 | $46.8M | 4.3% |
| North Dakota (ND) | 16 | $38.8M | 0.5% |
| Nebraska (NE) | 16 | $33.4M | 0.5% |
| Colorado (CO) | 8 | $32.8M | 0.3% |
| Minnesota (MN) | 16 | $25.0M | 0.5% |
| Kentucky (KY) | 32 | $24.9M | 1.1% |
| Arkansas (AR) | 8 | $19.2M | 0.3% |
| Oklahoma (OK) | 8 | $14.0M | 0.3% |
| New Jersey (NJ) | 40 | $9.9M | 1.4% |
| Virginia (VA) | 40 | $9.9M | 1.4% |
| Arizona (AZ) | 40 | $6.6M | 1.4% |
| South Carolina (SC) | 40 | $3.9M | 1.4% |
| Wyoming (WY) | 16 | $2.0M | 0.5% |
| South Dakota (SD) | 16 | $1.6M | 0.5% |
| Washington (WA) | 16 | $1.6M | 0.5% |
| Utah (UT) | 8 | $1.2M | 0.3% |
| Idaho (ID) | 8 | $1.2M | 0.3% |
| Mississippi (MS) | 8 | $800K | 0.3% |
| Montana (MT) | 8 | $800K | 0.3% |
Why Choose Shoreham Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 2,952 SBA loans approved, totaling $5.56B in financing
- ✓Industry Expertise: Specialized focus on Hotels (except Casino Hotels) and Motels, Full-Service Restaurants, General Freight Trucking, Local
- ✓Competitive Terms: Average interest rate of 8.93% with flexible term lengths averaging 239 months
- ✓Loan Range: Loan sizes from $25K to $5.0M, with an average of $1.9M
- ✓Nationwide Reach: Active lending in 43 states, with strong presence in MI, OH, IN
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, full-service restaurants, general freight trucking, local, residential remodelers. 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 8.93% and average term length of 239 months (approximately 20 years). Loan sizes range from $25K to $5.0M, with an average loan size of $1.9M.
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 2,952 SBA loans totaling $5.56B 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 Shoreham Bank lend in?
Shoreham Bank provides SBA 7(a) financing with particularly strong presence in MI, OH, IN, FL, CA. 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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