Union Savings Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Union Savings Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 561730 | Landscaping Services | 12 | $741K | $62K | 2.3% |
| 811111 | General Automotive Repair | 10 | $1.2M | $121K | 1.9% |
| 238990 | All Other Specialty Trade Contractors | 10 | $753K | $75K | 1.9% |
| 621310 | Offices of Chiropractors | 7 | $972K | $139K | 1.3% |
| 621111 | Offices of Physicians (except Mental Health Specialists) | 6 | $764K | $127K | 1.1% |
| 713940 | Fitness and Recreational Sports Centers | 6 | $1.4M | $236K | 1.1% |
| 711510 | Independent Artists, Writers, and Performers | 6 | $410K | $68K | 1.1% |
| 722410 | Drinking Places (Alcoholic Beverages) | 6 | $1.2M | $201K | 1.1% |
| 812112 | Beauty Salons | 6 | $392K | $65K | 1.1% |
| 238910 | Site Preparation Contractors | 6 | $505K | $84K | 1.1% |
Geographic Distribution
SBA lending activity for Union Savings Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Connecticut (CT) | 515 | $62.4M | 98.5% |
| New York (NY) | 6 | $405K | 1.1% |
| Illinois (IL) | 2 | $100K | 0.4% |
Why Choose Union Savings Bank?
Based on SBA 7(a) lending track record from 1994-2024
- ✓Proven Track Record: 523 SBA loans approved, totaling $62.9M in financing
- ✓Industry Expertise: Specialized focus on Landscaping Services, General Automotive Repair, All Other Specialty Trade Contractors
- ✓Competitive Terms: Average interest rate of 6.13% with flexible term lengths averaging 80 months
- ✓Loan Range: Loan sizes from $3K to $1.9M, with an average of $120K
- ✓Nationwide Reach: Active lending in 3 states, with strong presence in CT, NY, IL
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 Union Savings Bank SBA lending
What types of businesses does Union Savings Bank typically finance?
Union Savings Bank specializes in SBA 7(a) lending to specific industries including landscaping services, general automotive repair, all other specialty trade contractors, offices of chiropractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Union Savings Bank's typical SBA loan terms?
Union Savings Bank's SBA 7(a) loans typically feature an average interest rate of 6.13% and average term length of 80 months (approximately 7 years). Loan sizes range from $3K to $1.9M, with an average loan size of $120K.
Do I need a business valuation for a Union Savings Bank SBA loan?
Yes, Union 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 Union Savings Bank compare to other SBA lenders?
Union Savings Bank has originated 523 SBA loans totaling $62.9M since 1994. 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 Union Savings Bank lend in?
Union Savings Bank provides SBA 7(a) financing with particularly strong presence in CT, NY, IL. 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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