Summit State Bank
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by Summit State Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 721110 | Hotels (except Casino Hotels) and Motels | 392 | $1.31B | $3.3M | 27.8% |
| 811192 | Car Washes | 80 | $164.3M | $2.1M | 5.7% |
| 722513 | Limited-Service Restaurants | 72 | $80.7M | $1.1M | 5.1% |
| 722511 | Full-Service Restaurants | 64 | $97.8M | $1.5M | 4.5% |
| 447110 | Gasoline Stations with Convenience Stores | 64 | $190.6M | $3.0M | 4.5% |
| 713940 | Fitness and Recreational Sports Centers | 48 | $91.9M | $1.9M | 3.4% |
| 623312 | Homes for the Elderly | 40 | $148.8M | $3.7M | 2.8% |
| 811111 | General Automotive Repair | 40 | $43.3M | $1.1M | 2.8% |
| 721191 | Bed-and-Breakfast Inns | 24 | $31.3M | $1.3M | 1.7% |
| 459991 | Other | 24 | $12.1M | $504K | 1.7% |
Geographic Distribution
SBA lending activity for Summit State Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| California (CA) | 1,000 | $2.18B | 71.0% |
| Arizona (AZ) | 152 | $355.6M | 10.8% |
| Washington (WA) | 144 | $296.7M | 10.2% |
| Utah (UT) | 8 | $37.2M | 0.6% |
| Nevada (NV) | 16 | $28.1M | 1.1% |
| Colorado (CO) | 16 | $26.6M | 1.1% |
| Texas (TX) | 48 | $20.5M | 3.4% |
| South Carolina (SC) | 8 | $16.0M | 0.6% |
| Louisiana (LA) | 8 | $9.8M | 0.6% |
| Virginia (VA) | 8 | $3.2M | 0.6% |
Why Choose Summit State Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 1,408 SBA loans approved, totaling $2.98B in financing
- ✓Industry Expertise: Specialized focus on Hotels (except Casino Hotels) and Motels, Car Washes, Limited-Service Restaurants
- ✓Competitive Terms: Average interest rate of 7.15% with flexible term lengths averaging 244 months
- ✓Loan Range: Loan sizes from $199K to $5.0M, with an average of $2.1M
- ✓Nationwide Reach: Active lending in 10 states, with strong presence in CA, AZ, WA
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 Summit State Bank SBA lending
What types of businesses does Summit State Bank typically finance?
Summit State Bank specializes in SBA 7(a) lending to specific industries including hotels (except casino hotels) and motels, car washes, limited-service restaurants, full-service restaurants. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Summit State Bank's typical SBA loan terms?
Summit State Bank's SBA 7(a) loans typically feature an average interest rate of 7.15% and average term length of 244 months (approximately 20 years). Loan sizes range from $199K to $5.0M, with an average loan size of $2.1M.
Do I need a business valuation for a Summit State Bank SBA loan?
Yes, Summit State 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 Summit State Bank compare to other SBA lenders?
Summit State Bank has originated 1,408 SBA loans totaling $2.98B 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 Summit State Bank lend in?
Summit State Bank provides SBA 7(a) financing with particularly strong presence in CA, AZ, WA, TX, CO. 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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