SpiritBank
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by SpiritBank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722513 | Limited-Service Restaurants | 136 | $41.6M | $306K | 27.9% |
| 722511 | Full-Service Restaurants | 48 | $10.3M | $215K | 9.8% |
| 524210 | Insurance Agencies and Brokerages | 40 | $9.0M | $225K | 8.2% |
| 541110 | Offices of Lawyers | 24 | $12.5M | $522K | 4.9% |
| 722310 | Food Service Contractors | 16 | $14.0M | $876K | 3.3% |
| 238990 | All Other Specialty Trade Contractors | 16 | $4.9M | $308K | 3.3% |
| 445291 | Baked Goods Stores | 16 | $4.9M | $306K | 3.3% |
| 811192 | Car Washes | 16 | $33.6M | $2.1M | 3.3% |
| 621610 | Home Health Care Services | 16 | $9.4M | $585K | 3.3% |
| 332813 | Electroplating, Plating, Polishing, Anodizing, and Coloring | 8 | $24.8M | $3.1M | 1.6% |
Geographic Distribution
SBA lending activity for SpiritBank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Oklahoma (OK) | 336 | $325.2M | 68.9% |
| Texas (TX) | 128 | $36.3M | 26.2% |
| Arkansas (AR) | 16 | $4.3M | 3.3% |
| Missouri (MO) | 8 | $1.6M | 1.6% |
Why Choose SpiritBank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 488 SBA loans approved, totaling $367.4M in financing
- ✓Industry Expertise: Specialized focus on Limited-Service Restaurants, Full-Service Restaurants, Insurance Agencies and Brokerages
- ✓Competitive Terms: Average interest rate of 6.87% with flexible term lengths averaging 150 months
- ✓Loan Range: Loan sizes from $20K to $4.5M, with an average of $753K
- ✓Nationwide Reach: Active lending in 4 states, with strong presence in OK, TX, AR
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 SpiritBank SBA lending
What types of businesses does SpiritBank typically finance?
SpiritBank specializes in SBA 7(a) lending to specific industries including limited-service restaurants, full-service restaurants, insurance agencies and brokerages, offices of lawyers. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are SpiritBank's typical SBA loan terms?
SpiritBank's SBA 7(a) loans typically feature an average interest rate of 6.87% and average term length of 150 months (approximately 13 years). Loan sizes range from $20K to $4.5M, with an average loan size of $753K.
Do I need a business valuation for a SpiritBank SBA loan?
Yes, SpiritBank 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 SpiritBank compare to other SBA lenders?
SpiritBank has originated 488 SBA loans totaling $367.4M 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 SpiritBank lend in?
SpiritBank provides SBA 7(a) financing with particularly strong presence in OK, TX, AR, MO. 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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