Waukegan Savings Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Waukegan Savings Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 621210 | Offices of Dentists | 6 | $4.8M | $807K | 54.5% |
| 621111 | Offices of Physicians (except Mental Health Specialists) | 3 | $3.1M | $1.0M | 27.3% |
| 621340 | Offices of Physical, Occupational and Speech Therapists, and Audiologists | 2 | $910K | $455K | 18.2% |
Geographic Distribution
SBA lending activity for Waukegan Savings Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| North Carolina (NC) | 3 | $2.2M | 27.3% |
| Florida (FL) | 1 | $1.8M | 9.1% |
| District of Columbia (DC) | 1 | $1.5M | 9.1% |
| Mississippi (MS) | 1 | $1.0M | 9.1% |
| Tennessee (TN) | 1 | $975K | 9.1% |
| Texas (TX) | 2 | $725K | 18.2% |
| Pennsylvania (PA) | 1 | $460K | 9.1% |
| Illinois (IL) | 1 | $190K | 9.1% |
Why Choose Waukegan Savings Bank?
Based on SBA 7(a) lending track record from 2011-2012
- ✓Proven Track Record: 11 SBA loans approved, totaling $8.8M in financing
- ✓Industry Expertise: Specialized focus on Offices of Dentists, Offices of Physicians (except Mental Health Specialists), Offices of Physical, Occupational and Speech Therapists, and Audiologists
- ✓Competitive Terms: Average interest rate of 6.00% with flexible term lengths averaging 152 months
- ✓Loan Range: Loan sizes from $190K to $1.8M, with an average of $804K
- ✓Nationwide Reach: Active lending in 8 states, with strong presence in NC, TX, TN
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 Waukegan Savings Bank SBA lending
What types of businesses does Waukegan Savings Bank typically finance?
Waukegan Savings Bank specializes in SBA 7(a) lending to specific industries including offices of dentists, offices of physicians (except mental health specialists), offices of physical, occupational and speech therapists, and audiologists. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Waukegan Savings Bank's typical SBA loan terms?
Waukegan Savings Bank's SBA 7(a) loans typically feature an average interest rate of 6.00% and average term length of 152 months (approximately 13 years). Loan sizes range from $190K to $1.8M, with an average loan size of $804K.
Do I need a business valuation for a Waukegan Savings Bank SBA loan?
Yes, Waukegan 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 Waukegan Savings Bank compare to other SBA lenders?
Waukegan Savings Bank has originated 11 SBA loans totaling $8.8M since 2011. 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 Waukegan Savings Bank lend in?
Waukegan Savings Bank provides SBA 7(a) financing with particularly strong presence in NC, TX, TN, PA, DC. 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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