Union Savings Bank
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by Union Savings Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811111 | General Automotive Repair | 16 | $3.6M | $225K | 18.2% |
| 812310 | Coin-Operated Laundries and Drycleaners | 8 | $2.8M | $350K | 9.1% |
| 444130 | Hardware Stores | 8 | $400K | $50K | 9.1% |
| 423910 | Sporting and Recreational Goods and Supplies Merchant Wholesalers | 8 | $600K | $75K | 9.1% |
| 332510 | Hardware Manufacturing | 8 | $2.0M | $250K | 9.1% |
| 561730 | Landscaping Services | 8 | $1.0M | $130K | 9.1% |
| 238990 | All Other Specialty Trade Contractors | 8 | $1.2M | $150K | 9.1% |
| 441120 | Used Car Dealers | 8 | $800K | $100K | 9.1% |
| 237310 | Highway, Street, and Bridge Construction | 8 | $1.3M | $160K | 9.1% |
| 459120 | Other | 8 | $1.1M | $135K | 9.1% |
Geographic Distribution
SBA lending activity for Union Savings Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Connecticut (CT) | 88 | $14.8M | 100.0% |
Why Choose Union Savings Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 88 SBA loans approved, totaling $14.8M in financing
- ✓Industry Expertise: Specialized focus on General Automotive Repair, Coin-Operated Laundries and Drycleaners, Hardware Stores
- ✓Competitive Terms: Average interest rate of 8.64% with flexible term lengths averaging 111 months
- ✓Loan Range: Loan sizes from $50K to $350K, with an average of $168K
- ✓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 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 general automotive repair, coin-operated laundries and drycleaners, hardware stores, sporting and recreational goods and supplies merchant wholesalers. 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 8.64% and average term length of 111 months (approximately 9 years). Loan sizes range from $50K to $350K, with an average loan size of $168K.
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 88 SBA loans totaling $14.8M 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 Union Savings Bank lend in?
Union 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.
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