SBA lender profile
Independence Bank
Independence Bank appears in the public SBA loan data with 2,286 funded 7(a) loans since FY2010, totaling $344.9M, an average of $151K per loan, and an estimated 11,221 jobs supported. Its SBA lending concentrates in Rhode Island and the Construction sector. Across its 7(a) loans, the charge-off rate is 33.6%. 84.7% of its 7(a) loans were processed under delegated PLP authority.
By Mario Bailey · Source: SBA FOIA 7(a) and 504 data, FY2010–2026 (as of 2026-03-31)
- Track record 0
- Scale 92
- Activity 0
- Consistency 60
A relative profile signal from the public SBA record, not a prediction of approval or a guarantee.
Is Independence Bank the right lender for you?
Lenders fund what they know. Independence Bank's SBA lending concentrates in Rhode Island (131 loans) and Construction (333 loans), at an average loan of $151K. If your business does not look like that, a different SBA lender is likely the better fit.
See which SBA lenders fund businesses like yours →Ranked on the funded-loan record, not on who pays. Free, and your details go only to the lenders we match you to.
Bank profile
via FDIC- Total assets
- $536M
- Headquarters
- Los Angeles, CA
- FDIC cert
- #18675
- Status
- Inactive
Where Independence Bank lends
Top states by funded SBA volume.
| State | Loans | Total volume |
|---|---|---|
| Rhode Island | 131 | $44.9M |
| Massachusetts | 157 | $35.1M |
| California | 262 | $33.5M |
| Florida | 204 | $25.5M |
| Texas | 181 | $22.3M |
| Georgia | 99 | $15.3M |
What Independence Bank funds
Top industries by funded SBA volume.
| Industry | Loans | Total volume |
|---|---|---|
| Construction | 333 | $45.6M |
| Retail Trade | 326 | $43.5M |
| Professional and Technical Services | 258 | $36.9M |
| Manufacturing | 159 | $36.8M |
| Other Services | 197 | $30.2M |
| Transportation and Warehousing | 214 | $29.6M |
Independence Bank SBA lending by year
Funded SBA volume by approval fiscal year (FY2010–2026).
| Fiscal year | Loans | Total volume |
|---|---|---|
| 2010 | 9 | $7.7M |
| 2011 | 23 | $20.2M |
| 2012 | 8 | $10.7M |
| 2013 | 9 | $12.0M |
| 2014 | 46 | $21.3M |
| 2015 | 90 | $24.2M |
| 2016 | 159 | $21.7M |
| 2017 | 651 | $70.1M |
| 2018 | 803 | $86.7M |
| 2019 | 485 | $69.8M |
| 2020 | 3 | $425K |
Related SBA lenders
Other lenders active in Rhode Island or in Construction.
Comparing lenders? See how to choose an SBA lender by track record.
Independence Bank: frequently asked questions
Does Independence Bank offer SBA loans?
Yes. Independence Bank appears in the public SBA data with 2,286 funded SBA 7(a) loans totaling $344.9M.
How many SBA loans has Independence Bank made?
Independence Bank is associated with 2,286 SBA 7(a) loans totaling $344.9M in the public SBA data (as of 2026-03-31).
What is Independence Bank's SBA charge-off rate?
About 33.6% of Independence Bank's 7(a) loans in the data have been charged off. A lower rate is generally a better sign, but it is not a lifetime default rate; see our methodology for how it is calculated.
Where does Independence Bank do most of its SBA lending?
Independence Bank's SBA lending in the data is most concentrated in Rhode Island, and by industry in Construction.
Is Independence Bank an SBA Preferred Lender (PLP)?
The loan record shows Independence Bank operating under PLP delegated authority: 1,936 of its 7(a) loans (84.7%) were processed through the Preferred Lenders Program. The SBA grants and renews PLP status and publishes no public roster, so this is the processing record, not a certification.
This page is the public view of your institution's SBA record: rank, trajectory, and market position, computed from the complete public 7(a)/504 dataset. The full competitive picture (your share against named competitors by state and industry, and the growing markets you're absent from) is available to your team.
Request your institution's benchmarking →Mario Bailey. (2026). Independence Bank SBA lending profile. SBA Loan Index. https://sbaloanindex.com/lenders/independence-bank/
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