TowneBank
SBA 7(a) Lending Profile · FY 2025 analysis
Industry Focus
Top industries served by TowneBank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 32 | $15.6M | $486K | 9.1% |
| 621330 | Offices of Mental Health Practitioners (except Physicians) | 16 | $3.6M | $226K | 4.5% |
| 811111 | General Automotive Repair | 16 | $13.4M | $835K | 4.5% |
| 238990 | All Other Specialty Trade Contractors | 16 | $59.4M | $3.7M | 4.5% |
| 312120 | Breweries | 16 | $5.4M | $338K | 4.5% |
| 445131 | Other | 16 | $8.9M | $557K | 4.5% |
| 445291 | Baked Goods Stores | 16 | $3.8M | $240K | 4.5% |
| 812990 | All Other Personal Services | 16 | $9.7M | $609K | 4.5% |
| 811192 | Car Washes | 16 | $24.3M | $1.5M | 4.5% |
| 323111 | Commercial Gravure Printing | 8 | $800K | $100K | 2.3% |
Geographic Distribution
SBA lending activity for TowneBank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Virginia (VA) | 328 | $289.3M | 93.2% |
| North Carolina (NC) | 24 | $45.5M | 6.8% |
Why Choose TowneBank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 352 SBA loans approved, totaling $334.8M in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Offices of Mental Health Practitioners (except Physicians), General Automotive Repair
- ✓Competitive Terms: Average interest rate of 6.91% with flexible term lengths averaging 158 months
- ✓Loan Range: Loan sizes from $42K to $4.8M, with an average of $951K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in VA, 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 TowneBank SBA lending
What types of businesses does TowneBank typically finance?
TowneBank specializes in SBA 7(a) lending to specific industries including full-service restaurants, offices of mental health practitioners (except physicians), general automotive repair, all other specialty trade contractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are TowneBank's typical SBA loan terms?
TowneBank's SBA 7(a) loans typically feature an average interest rate of 6.91% and average term length of 158 months (approximately 13 years). Loan sizes range from $42K to $4.8M, with an average loan size of $951K.
Do I need a business valuation for a TowneBank SBA loan?
Yes, TowneBank 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 TowneBank compare to other SBA lenders?
TowneBank has originated 352 SBA loans totaling $334.8M 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 TowneBank lend in?
TowneBank provides SBA 7(a) financing with particularly strong presence in VA, 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?
Professional valuations are often required for SBA loans over $250,000.
Get your certified valuation from Fair Market Value.