SouthPoint Bank
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by SouthPoint Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722515 | Snack and Nonalcoholic Beverage Bars | 24 | $8.0M | $331K | 8.1% |
| 721110 | Hotels (except Casino Hotels) and Motels | 24 | $89.2M | $3.7M | 8.1% |
| 722513 | Limited-Service Restaurants | 24 | $4.1M | $173K | 8.1% |
| 621111 | Offices of Physicians (except Mental Health Specialists) | 24 | $20.2M | $840K | 8.1% |
| 541330 | Engineering Services | 16 | $67.4M | $4.2M | 5.4% |
| 238990 | All Other Specialty Trade Contractors | 16 | $7.2M | $452K | 5.4% |
| 812199 | Other Personal Care Services | 16 | $10.1M | $628K | 5.4% |
| 561439 | Other Business Service Centers (including Copy Shops) | 16 | $6.2M | $385K | 5.4% |
| 621498 | All Other Outpatient Care Centers | 8 | $3.8M | $472K | 2.7% |
| 488999 | All Other Support Activities for Transportation | 8 | $18.8M | $2.4M | 2.7% |
Geographic Distribution
SBA lending activity for SouthPoint Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Alabama (AL) | 256 | $231.3M | 86.5% |
| Mississippi (MS) | 8 | $37.2M | 2.7% |
| Florida (FL) | 24 | $18.2M | 8.1% |
| Texas (TX) | 8 | $12.5M | 2.7% |
Why Choose SouthPoint Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 296 SBA loans approved, totaling $299.1M in financing
- ✓Industry Expertise: Specialized focus on Snack and Nonalcoholic Beverage Bars, Hotels (except Casino Hotels) and Motels, Limited-Service Restaurants
- ✓Competitive Terms: Average interest rate of 7.55% with flexible term lengths averaging 143 months
- ✓Loan Range: Loan sizes from $83K to $4.7M, with an average of $1.0M
- ✓Nationwide Reach: Active lending in 4 states, with strong presence in AL, FL, TX
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 SouthPoint Bank SBA lending
What types of businesses does SouthPoint Bank typically finance?
SouthPoint Bank specializes in SBA 7(a) lending to specific industries including snack and nonalcoholic beverage bars, hotels (except casino hotels) and motels, limited-service restaurants, offices of physicians (except mental health specialists). They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are SouthPoint Bank's typical SBA loan terms?
SouthPoint Bank's SBA 7(a) loans typically feature an average interest rate of 7.55% and average term length of 143 months (approximately 12 years). Loan sizes range from $83K to $4.7M, with an average loan size of $1.0M.
Do I need a business valuation for a SouthPoint Bank SBA loan?
Yes, SouthPoint 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 SouthPoint Bank compare to other SBA lenders?
SouthPoint Bank has originated 296 SBA loans totaling $299.1M 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 SouthPoint Bank lend in?
SouthPoint Bank provides SBA 7(a) financing with particularly strong presence in AL, FL, TX, MS. 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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