Thomaston Savings Bank
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by Thomaston Savings Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 312120 | Breweries | 48 | $13.2M | $274K | 13.3% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 40 | $33.5M | $839K | 11.1% |
| 722310 | Food Service Contractors | 16 | $6.2M | $390K | 4.4% |
| 561730 | Landscaping Services | 16 | $1.8M | $114K | 4.4% |
| 332710 | Machine Shops | 16 | $3.8M | $235K | 4.4% |
| 445310 | Beer, Wine, and Liquor Stores | 16 | $1.4M | $90K | 4.4% |
| 713940 | Fitness and Recreational Sports Centers | 16 | $1.8M | $111K | 4.4% |
| 722513 | Limited-Service Restaurants | 16 | $2.0M | $123K | 4.4% |
| 531320 | Offices of Real Estate Appraisers | 8 | $800K | $100K | 2.2% |
| 238130 | Framing Contractors | 8 | $640K | $80K | 2.2% |
Geographic Distribution
SBA lending activity for Thomaston Savings Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Connecticut (CT) | 360 | $104.8M | 100.0% |
Why Choose Thomaston Savings Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 360 SBA loans approved, totaling $104.8M in financing
- ✓Industry Expertise: Specialized focus on Breweries, Plumbing, Heating, and Air-Conditioning Contractors, Food Service Contractors
- ✓Competitive Terms: Average interest rate of 5.14% with flexible term lengths averaging 88 months
- ✓Loan Range: Loan sizes from $21K to $3.0M, with an average of $291K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in CT
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 Thomaston Savings Bank SBA lending
What types of businesses does Thomaston Savings Bank typically finance?
Thomaston Savings Bank specializes in SBA 7(a) lending to specific industries including breweries, plumbing, heating, and air-conditioning contractors, food service contractors, landscaping services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Thomaston Savings Bank's typical SBA loan terms?
Thomaston Savings Bank's SBA 7(a) loans typically feature an average interest rate of 5.14% and average term length of 88 months (approximately 7 years). Loan sizes range from $21K to $3.0M, with an average loan size of $291K.
Do I need a business valuation for a Thomaston Savings Bank SBA loan?
Yes, Thomaston Savings 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 Thomaston Savings Bank compare to other SBA lenders?
Thomaston Savings Bank has originated 360 SBA loans totaling $104.8M 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 Thomaston Savings Bank lend in?
Thomaston Savings Bank provides SBA 7(a) financing with particularly strong presence in 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.
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.
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