Sterling National Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Sterling National Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 445110 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 5 | $1.6M | $320K | 3.9% |
| 812310 | Coin-Operated Laundries and Drycleaners | 4 | $1.9M | $463K | 3.1% |
| 541110 | Offices of Lawyers | 4 | $830K | $208K | 3.1% |
| 531120 | Lessors of Nonresidential Buildings (except Miniwarehouses) | 3 | $1.2M | $408K | 2.3% |
| 621310 | Offices of Chiropractors | 2 | $115K | $58K | 1.6% |
| 621340 | Offices of Physical, Occupational and Speech Therapists, and Audiologists | 2 | $150K | $75K | 1.6% |
| 621610 | Home Health Care Services | 2 | $407K | $204K | 1.6% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 2 | $180K | $90K | 1.6% |
| 722410 | Drinking Places (Alcoholic Beverages) | 1 | $150K | $150K | 0.8% |
| 561730 | Landscaping Services | 1 | $350K | $350K | 0.8% |
Geographic Distribution
SBA lending activity for Sterling National Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New York (NY) | 124 | $34.8M | 96.9% |
| New Jersey (NJ) | 4 | $330K | 3.1% |
Why Choose Sterling National Bank?
Based on SBA 7(a) lending track record from 1993-2002
- ✓Proven Track Record: 128 SBA loans approved, totaling $35.2M in financing
- ✓Industry Expertise: Specialized focus on Supermarkets and Other Grocery Retailers (except Convenience Retailers), Coin-Operated Laundries and Drycleaners, Offices of Lawyers
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 112 months
- ✓Loan Range: Loan sizes from $10K to $2.0M, with an average of $275K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in NY, NJ
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 Sterling National Bank SBA lending
What types of businesses does Sterling National Bank typically finance?
Sterling National Bank specializes in SBA 7(a) lending to specific industries including supermarkets and other grocery retailers (except convenience retailers), coin-operated laundries and drycleaners, offices of lawyers, lessors of nonresidential buildings (except miniwarehouses). They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Sterling National Bank's typical SBA loan terms?
Sterling National Bank's SBA 7(a) loans typically feature an average interest rate of — and average term length of 112 months (approximately 9 years). Loan sizes range from $10K to $2.0M, with an average loan size of $275K.
Do I need a business valuation for a Sterling National Bank SBA loan?
Yes, Sterling National 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 Sterling National Bank compare to other SBA lenders?
Sterling National Bank has originated 128 SBA loans totaling $35.2M since 1993. 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 Sterling National Bank lend in?
Sterling National Bank provides SBA 7(a) financing with particularly strong presence in NY, NJ. 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.
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