State Bank of Long Island
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by State Bank of Long Island · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 624410 | Child Care Services | 3 | $485K | $162K | 3.7% |
| 621310 | Offices of Chiropractors | 2 | $70K | $35K | 2.5% |
| 811122 | Automotive Glass Replacement Shops | 1 | $100K | $100K | 1.2% |
| 812320 | Drycleaning and Laundry Services (except Coin-Operated) | 1 | $250K | $250K | 1.2% |
| 335314 | Relay and Industrial Control Manufacturing | 1 | $150K | $150K | 1.2% |
| 485310 | Taxi and Ridesharing Services | 1 | $85K | $85K | 1.2% |
| 713940 | Fitness and Recreational Sports Centers | 1 | $50K | $50K | 1.2% |
| 561510 | Travel Agencies | 1 | $25K | $25K | 1.2% |
| 812310 | Coin-Operated Laundries and Drycleaners | 1 | $45K | $45K | 1.2% |
| 811111 | General Automotive Repair | 1 | $40K | $40K | 1.2% |
Geographic Distribution
SBA lending activity for State Bank of Long Island by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New York (NY) | 81 | $12.8M | 100.0% |
Why Choose State Bank of Long Island?
Based on SBA 7(a) lending track record from 1991-2001
- ✓Proven Track Record: 81 SBA loans approved, totaling $12.8M in financing
- ✓Industry Expertise: Specialized focus on Child Care Services, Offices of Chiropractors, Automotive Glass Replacement Shops
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 68 months
- ✓Loan Range: Loan sizes from $15K to $1.0M, with an average of $158K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in NY
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 State Bank of Long Island SBA lending
What types of businesses does State Bank of Long Island typically finance?
State Bank of Long Island specializes in SBA 7(a) lending to specific industries including child care services, offices of chiropractors, automotive glass replacement shops, drycleaning and laundry services (except coin-operated). They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are State Bank of Long Island's typical SBA loan terms?
State Bank of Long Island's SBA 7(a) loans typically feature an average interest rate of — and average term length of 68 months (approximately 6 years). Loan sizes range from $15K to $1.0M, with an average loan size of $158K.
Do I need a business valuation for a State Bank of Long Island SBA loan?
Yes, State Bank of Long Island 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 State Bank of Long Island compare to other SBA lenders?
State Bank of Long Island has originated 81 SBA loans totaling $12.8M since 1991. 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 State Bank of Long Island lend in?
State Bank of Long Island provides SBA 7(a) financing with particularly strong presence in NY. 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.