Synovus Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Synovus Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811198 | All Other Automotive Repair and Maintenance | 2 | $120K | $60K | 33.3% |
| 621399 | Offices of All Other Miscellaneous Health Practitioners | 1 | $60K | $60K | 16.7% |
Geographic Distribution
SBA lending activity for Synovus Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Florida (FL) | 4 | $380K | 66.7% |
| Arkansas (AR) | 1 | $215K | 16.7% |
| Georgia (GA) | 1 | $145K | 16.7% |
Why Choose Synovus Bank?
Based on SBA 7(a) lending track record from 2007-2010
- ✓Proven Track Record: 6 SBA loans approved, totaling $740K in financing
- ✓Industry Expertise: Specialized focus on All Other Automotive Repair and Maintenance, Offices of All Other Miscellaneous Health Practitioners
- ✓Competitive Terms: Average interest rate of 5.63% with flexible term lengths averaging 118 months
- ✓Loan Range: Loan sizes from $55K to $215K, with an average of $123K
- ✓Nationwide Reach: Active lending in 3 states, with strong presence in FL, AR, GA
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 Synovus Bank SBA lending
What types of businesses does Synovus Bank typically finance?
Synovus Bank specializes in SBA 7(a) lending to specific industries including all other automotive repair and maintenance, offices of all other miscellaneous health practitioners. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Synovus Bank's typical SBA loan terms?
Synovus Bank's SBA 7(a) loans typically feature an average interest rate of 5.63% and average term length of 118 months (approximately 10 years). Loan sizes range from $55K to $215K, with an average loan size of $123K.
Do I need a business valuation for a Synovus Bank SBA loan?
Yes, Synovus 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 Synovus Bank compare to other SBA lenders?
Synovus Bank has originated 6 SBA loans totaling $740K since 2007. 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 Synovus Bank lend in?
Synovus Bank provides SBA 7(a) financing with particularly strong presence in FL, AR, GA. 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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