The Heritage Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by The Heritage Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 321912 | Cut Stock, Resawing Lumber, and Planing | 2 | $510K | $255K | 50.0% |
| 115210 | Support Activities for Animal Production | 1 | $396K | $396K | 25.0% |
Geographic Distribution
SBA lending activity for The Heritage Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| North Carolina (NC) | 4 | $1.8M | 100.0% |
Why Choose The Heritage Bank?
Based on SBA 7(a) lending track record from 2005-2010
- ✓Proven Track Record: 4 SBA loans approved, totaling $1.8M in financing
- ✓Industry Expertise: Specialized focus on Cut Stock, Resawing Lumber, and Planing, Support Activities for Animal Production
- ✓Competitive Terms: Average interest rate of 6.00% with flexible term lengths averaging 117 months
- ✓Loan Range: Loan sizes from $150K to $850K, with an average of $439K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in NC
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 Heritage Bank SBA lending
What types of businesses does The Heritage Bank typically finance?
The Heritage Bank specializes in SBA 7(a) lending to specific industries including cut stock, resawing lumber, and planing, support activities for animal production. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are The Heritage Bank's typical SBA loan terms?
The Heritage Bank's SBA 7(a) loans typically feature an average interest rate of 6.00% and average term length of 117 months (approximately 10 years). Loan sizes range from $150K to $850K, with an average loan size of $439K.
Do I need a business valuation for a The Heritage Bank SBA loan?
Yes, The Heritage 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 The Heritage Bank compare to other SBA lenders?
The Heritage Bank has originated 4 SBA loans totaling $1.8M since 2005. 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 Heritage Bank lend in?
The Heritage Bank provides SBA 7(a) financing with particularly strong presence in NC. 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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