SunSouth Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by SunSouth Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 445110 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 3 | $608K | $203K | 18.8% |
| 441110 | New Car Dealers | 2 | $1.0M | $520K | 12.5% |
| 812112 | Beauty Salons | 1 | $40K | $40K | 6.3% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 1 | $175K | $175K | 6.3% |
| 445292 | Confectionery and Nut Retailers | 1 | $75K | $75K | 6.3% |
| 337110 | Wood Kitchen Cabinet and Countertop Manufacturing | 1 | $600K | $600K | 6.3% |
| 236220 | Commercial and Institutional Building Construction | 1 | $80K | $80K | 6.3% |
| 339950 | Sign Manufacturing | 1 | $150K | $150K | 6.3% |
Geographic Distribution
SBA lending activity for SunSouth Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Alabama (AL) | 16 | $3.5M | 100.0% |
Why Choose SunSouth Bank?
Based on SBA 7(a) lending track record from 2003-2009
- ✓Proven Track Record: 16 SBA loans approved, totaling $3.5M in financing
- ✓Industry Expertise: Specialized focus on Supermarkets and Other Grocery Retailers (except Convenience Retailers), New Car Dealers, Beauty Salons
- ✓Competitive Terms: Average interest rate of 5.55% with flexible term lengths averaging 81 months
- ✓Loan Range: Loan sizes from $40K to $600K, with an average of $220K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in AL
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 SunSouth Bank SBA lending
What types of businesses does SunSouth Bank typically finance?
SunSouth Bank specializes in SBA 7(a) lending to specific industries including supermarkets and other grocery retailers (except convenience retailers), new car dealers, beauty salons, automotive body, paint, and interior repair and maintenance. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are SunSouth Bank's typical SBA loan terms?
SunSouth Bank's SBA 7(a) loans typically feature an average interest rate of 5.55% and average term length of 81 months (approximately 7 years). Loan sizes range from $40K to $600K, with an average loan size of $220K.
Do I need a business valuation for a SunSouth Bank SBA loan?
Yes, SunSouth 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 SunSouth Bank compare to other SBA lenders?
SunSouth Bank has originated 16 SBA loans totaling $3.5M since 2003. 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 SunSouth Bank lend in?
SunSouth Bank provides SBA 7(a) financing with particularly strong presence in AL. 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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