The Bank of Princeton
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by The Bank of Princeton · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 721110 | Hotels (except Casino Hotels) and Motels | 101 | $304.8M | $3.0M | 8.7% |
| 445110 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 100 | $103.0M | $1.0M | 8.7% |
| 722513 | Limited-Service Restaurants | 83 | $53.5M | $644K | 7.2% |
| 812320 | Drycleaning and Laundry Services (except Coin-Operated) | 75 | $22.1M | $295K | 6.5% |
| 722511 | Full-Service Restaurants | 68 | $49.1M | $722K | 5.9% |
| 812113 | Nail Salons | 46 | $9.9M | $214K | 4.0% |
| 812310 | Coin-Operated Laundries and Drycleaners | 27 | $19.9M | $738K | 2.3% |
| 812112 | Beauty Salons | 16 | $3.7M | $233K | 1.4% |
| 424990 | Other Miscellaneous Nondurable Goods Merchant Wholesalers | 15 | $8.6M | $573K | 1.3% |
| 445230 | Fruit and Vegetable Retailers | 14 | $8.4M | $600K | 1.2% |
Geographic Distribution
SBA lending activity for The Bank of Princeton by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New York (NY) | 467 | $464.6M | 40.4% |
| New Jersey (NJ) | 415 | $297.6M | 35.9% |
| Pennsylvania (PA) | 210 | $161.8M | 18.2% |
| Virginia (VA) | 9 | $21.1M | 0.8% |
| Maryland (MD) | 13 | $20.7M | 1.1% |
| Alabama (AL) | 4 | $10.9M | 0.3% |
| California (CA) | 3 | $9.8M | 0.3% |
| Connecticut (CT) | 13 | $8.2M | 1.1% |
| Washington (WA) | 2 | $6.7M | 0.2% |
| Texas (TX) | 2 | $6.4M | 0.2% |
| Ohio (OH) | 3 | $6.2M | 0.3% |
| Delaware (DE) | 2 | $5.3M | 0.2% |
| West Virginia (WV) | 1 | $3.9M | 0.1% |
| District of Columbia (DC) | 4 | $3.8M | 0.3% |
| Idaho (ID) | 1 | $3.7M | 0.1% |
| Massachusetts (MA) | 1 | $2.9M | 0.1% |
| Michigan (MI) | 4 | $2.9M | 0.3% |
| Utah (UT) | 1 | $1.5M | 0.1% |
| New Hampshire (NH) | 1 | $1.3M | 0.1% |
Why Choose The Bank of Princeton?
Based on SBA 7(a) lending track record from 2002-2023
- ✓Proven Track Record: 1,156 SBA loans approved, totaling $1.04B in financing
- ✓Industry Expertise: Specialized focus on Hotels (except Casino Hotels) and Motels, Supermarkets and Other Grocery Retailers (except Convenience Retailers), Limited-Service Restaurants
- ✓Competitive Terms: Average interest rate of 5.96% with flexible term lengths averaging 160 months
- ✓Loan Range: Loan sizes from $10K to $5.0M, with an average of $899K
- ✓Nationwide Reach: Active lending in 19 states, with strong presence in NY, NJ, PA
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 The Bank of Princeton SBA lending
What types of businesses does The Bank of Princeton typically finance?
The Bank of Princeton specializes in SBA 7(a) lending to specific industries including hotels (except casino hotels) and motels, supermarkets and other grocery retailers (except convenience retailers), limited-service restaurants, drycleaning and laundry services (except coin-operated). They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are The Bank of Princeton's typical SBA loan terms?
The Bank of Princeton's SBA 7(a) loans typically feature an average interest rate of 5.96% and average term length of 160 months (approximately 13 years). Loan sizes range from $10K to $5.0M, with an average loan size of $899K.
Do I need a business valuation for a The Bank of Princeton SBA loan?
Yes, The Bank of Princeton 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 The Bank of Princeton compare to other SBA lenders?
The Bank of Princeton has originated 1,156 SBA loans totaling $1.04B since 2002. 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 The Bank of Princeton lend in?
The Bank of Princeton provides SBA 7(a) financing with particularly strong presence in NY, NJ, PA, MD, CT. 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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