83
Hanover Community Bank
National Rank by SBA 7(a) Loan Volume (2025)
$103.3M
Total Volume
107
Loans Funded
$965K
Avg Loan Size
9.91%
Avg Interest Rate
About Hanover Community Bank
In 2025, Hanover Community Bank funded $103.3M in SBA 7(a) loans across 107 businesses nationwide, making them the #83 SBA lender in the United States by loan volume.
💡 Key Insight: Hanover Community Bank’s average loan size is $965K at an average rate of 9.91%. Working with an SBA loan broker can help you access this lender and potentially negotiate better terms.
Top States for Hanover Community Bank SBA Loans
Hanover Community Bank is most active in New Jersey, with lending activity across multiple states. Here’s where they funded the most SBA 7(a) loans in 2025:
| State | Loans | Volume |
|---|---|---|
| New Jersey | 20 | $31.9M |
| New York | 10 | $10.6M |
| Florida | 12 | $8.2M |
| Virginia | 5 | $8.1M |
| Georgia | 5 | $5.8M |
| Illinois | 3 | $5.0M |
| Texas | 11 | $4.8M |
| California | 7 | $4.2M |
| Utah | 2 | $4.2M |
| Connecticut | 1 | $4.0M |
Top Industries Funded by Hanover Community Bank
Here are the industries where Hanover Community Bank funded the most SBA 7(a) loans in 2025:
| Industry | Loans | Volume |
|---|---|---|
| Full-Service Restaurants | 6 | $13.5M |
| Hotels (except Casino Hotels) and Motels | 5 | $12.1M |
| Fitness and Recreational Sports Centers | 9 | $5.1M |
| Beauty Salons | 1 | $5.0M |
| Baked Goods Stores | 3 | $4.8M |
| Limited-Service Restaurants | 4 | $4.0M |
| Sports Teams and Clubs | 1 | $4.0M |
| Homes for the Elderly | 3 | $3.6M |
| Services for the Elderly and Persons with Disabilities | 1 | $3.5M |
| Other Services to Buildings and Dwellings | 1 | $3.0M |
How to Get an SBA Loan Through Hanover Community Bank
Applying for an SBA 7(a) loan through Hanover Community Bank typically involves:
- Pre-qualification — Determine if your business meets SBA eligibility requirements
- Documentation — Gather financial statements, tax returns, and a business plan
- Application — Submit through Hanover Community Bank or work with an SBA loan broker for faster processing
- Underwriting — The bank reviews your application and makes a decision
- Closing — Finalize terms and receive your funding
Ready to Apply for an SBA Loan?
Our brokers can help you access Hanover Community Bank and 2,000+ other SBA lenders to find the best rates and terms for your business.
