South Atlantic Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by South Atlantic Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 721110 | Hotels (except Casino Hotels) and Motels | 3 | $14.3M | $4.8M | 20.0% |
| 541990 | All Other Professional, Scientific, and Technical Services | 1 | $106K | $106K | 6.7% |
| 238340 | Tile and Terrazzo Contractors | 1 | $1.3M | $1.3M | 6.7% |
| 238150 | Glass and Glazing Contractors | 1 | $2.0M | $2.0M | 6.7% |
| 713940 | Fitness and Recreational Sports Centers | 1 | $150K | $150K | 6.7% |
| 811111 | General Automotive Repair | 1 | $40K | $40K | 6.7% |
| 722410 | Drinking Places (Alcoholic Beverages) | 1 | $161K | $161K | 6.7% |
| 424310 | Piece Goods, Notions, and Other Dry Goods Merchant Wholesalers | 1 | $2.4M | $2.4M | 6.7% |
Geographic Distribution
SBA lending activity for South Atlantic Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| South Carolina (SC) | 15 | $21.1M | 100.0% |
Why Choose South Atlantic Bank?
Based on SBA 7(a) lending track record from 2010-2015
- ✓Proven Track Record: 15 SBA loans approved, totaling $21.1M in financing
- ✓Industry Expertise: Specialized focus on Hotels (except Casino Hotels) and Motels, All Other Professional, Scientific, and Technical Services, Tile and Terrazzo Contractors
- ✓Competitive Terms: Average interest rate of 6.03% with flexible term lengths averaging 152 months
- ✓Loan Range: Loan sizes from $40K to $5.0M, with an average of $1.4M
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in SC
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 South Atlantic Bank SBA lending
What types of businesses does South Atlantic Bank typically finance?
South Atlantic Bank specializes in SBA 7(a) lending to specific industries including hotels (except casino hotels) and motels, all other professional, scientific, and technical services, tile and terrazzo contractors, glass and glazing contractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are South Atlantic Bank's typical SBA loan terms?
South Atlantic Bank's SBA 7(a) loans typically feature an average interest rate of 6.03% and average term length of 152 months (approximately 13 years). Loan sizes range from $40K to $5.0M, with an average loan size of $1.4M.
Do I need a business valuation for a South Atlantic Bank SBA loan?
Yes, South Atlantic 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 South Atlantic Bank compare to other SBA lenders?
South Atlantic Bank has originated 15 SBA loans totaling $21.1M since 2010. 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 South Atlantic Bank lend in?
South Atlantic Bank provides SBA 7(a) financing with particularly strong presence in SC. 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.