Sovereign Bank
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by Sovereign Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 541110 | Offices of Lawyers | 16 | $3.0M | $185K | 12.5% |
| 339950 | Sign Manufacturing | 16 | $3.9M | $245K | 12.5% |
| 444130 | Hardware Stores | 16 | $3.5M | $218K | 12.5% |
| 524210 | Insurance Agencies and Brokerages | 8 | $20.2M | $2.5M | 6.3% |
| 812112 | Beauty Salons | 8 | $1.4M | $175K | 6.3% |
| 811192 | Car Washes | 8 | $4.9M | $610K | 6.3% |
| 541211 | Offices of Certified Public Accountants | 8 | $2.0M | $250K | 6.3% |
| 621111 | Offices of Physicians (except Mental Health Specialists) | 8 | $2.8M | $350K | 6.3% |
| 311119 | Other Animal Food Manufacturing | 8 | $1.8M | $220K | 6.3% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 8 | $1.4M | $180K | 6.3% |
Geographic Distribution
SBA lending activity for Sovereign Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Oklahoma (OK) | 128 | $111.2M | 100.0% |
Why Choose Sovereign Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 128 SBA loans approved, totaling $111.2M in financing
- ✓Industry Expertise: Specialized focus on Offices of Lawyers, Sign Manufacturing, Hardware Stores
- ✓Competitive Terms: Average interest rate of 6.95% with flexible term lengths averaging 94 months
- ✓Loan Range: Loan sizes from $50K to $5.0M, with an average of $869K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in OK
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 Sovereign Bank SBA lending
What types of businesses does Sovereign Bank typically finance?
Sovereign Bank specializes in SBA 7(a) lending to specific industries including offices of lawyers, sign manufacturing, hardware stores, insurance agencies and brokerages. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Sovereign Bank's typical SBA loan terms?
Sovereign Bank's SBA 7(a) loans typically feature an average interest rate of 6.95% and average term length of 94 months (approximately 8 years). Loan sizes range from $50K to $5.0M, with an average loan size of $869K.
Do I need a business valuation for a Sovereign Bank SBA loan?
Yes, Sovereign 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 Sovereign Bank compare to other SBA lenders?
Sovereign Bank has originated 128 SBA loans totaling $111.2M 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 Sovereign Bank lend in?
Sovereign Bank provides SBA 7(a) financing with particularly strong presence in OK. 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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