Strafford Economic Development Corporation
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by Strafford Economic Development Corporation
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 24 | $4.5M | $187K | 20.0% |
| 541990 | All Other Professional, Scientific, and Technical Services | 16 | $530K | $33K | 13.3% |
| 722320 | Caterers | 16 | $1.3M | $80K | 13.3% |
| 311811 | Retail Bakeries | 8 | $800K | $100K | 6.7% |
| 333243 | Sawmill, Woodworking, and Paper Machinery Manufacturing | 8 | $240K | $30K | 6.7% |
| 621210 | Offices of Dentists | 8 | $2.0M | $250K | 6.7% |
| 423990 | Other Miscellaneous Durable Goods Merchant Wholesalers | 8 | $1.2M | $148K | 6.7% |
| 611620 | Sports and Recreation Instruction | 8 | $1.5M | $190K | 6.7% |
| 562920 | Materials Recovery Facilities | 8 | $1.2M | $156K | 6.7% |
| 453910 | Pet and Pet Supplies Stores | 8 | $960K | $120K | 6.7% |
Geographic Distribution
SBA lending activity for Strafford Economic Development Corporation by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New Hampshire (NH) | 104 | $12.5M | 86.7% |
| Massachusetts (MA) | 8 | $2.0M | 6.7% |
| Maine (ME) | 8 | $1.5M | 6.7% |
Why Choose Strafford Economic Development Corporation?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 120 SBA loans approved, totaling $16.0M in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, All Other Professional, Scientific, and Technical Services, Caterers
- ✓Competitive Terms: Average interest rate of 7.34% with flexible term lengths averaging 94 months
- ✓Loan Range: Loan sizes from $20K to $250K, with an average of $134K
- ✓Nationwide Reach: Active lending in 3 states, with strong presence in NH, ME, MA
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 Strafford Economic Development Corporation SBA lending
What types of businesses does Strafford Economic Development Corporation typically finance?
Strafford Economic Development Corporation specializes in SBA 7(a) lending to specific industries including full-service restaurants, all other professional, scientific, and technical services, caterers, retail bakeries. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Strafford Economic Development Corporation's typical SBA loan terms?
Strafford Economic Development Corporation's SBA 7(a) loans typically feature an average interest rate of 7.34% and average term length of 94 months (approximately 8 years). Loan sizes range from $20K to $250K, with an average loan size of $134K.
Do I need a business valuation for a Strafford Economic Development Corporation SBA loan?
Yes, Strafford Economic Development Corporation 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 Strafford Economic Development Corporation compare to other SBA lenders?
Strafford Economic Development Corporation has originated 120 SBA loans totaling $16.0M 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 Strafford Economic Development Corporation lend in?
Strafford Economic Development Corporation provides SBA 7(a) financing with particularly strong presence in NH, ME, MA. 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.
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