Spring Bank approved 16 SBA loans worth $30.7M between October 2021 and June 2026, ranking #972 of 2,283 SBA lenders nationally by loan count. Its median loan was $1,230,000, and 31% went to startups or businesses under two years old. It lent in 4 states, most often in New York, and its most financed industry was restaurants and hotels.
| State | Loans | Approved | Median loan | Rank in state |
|---|---|---|---|---|
| New York | 11 | $11.9M | $500,000 | #106 |
| Connecticut | 2 | $10.0M | $5,000,000 | #104 |
| New Jersey | 2 | $3.8M | $1,900,000 | #147 |
| Pennsylvania | 1 | $5.0M | $5,000,000 | #224 |
| Industry | Loans | Share | Median loan |
|---|---|---|---|
| Restaurants and hotels | 9 | $1,700,000 | |
| Professional and technical services | 3 | $200,000 | |
| Retail | 2 | $3,550,000 | |
| Construction | 1 | $960,000 | |
| Other services (repair, personal care) | 1 | $500,000 |