African Development Center
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by African Development Center
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 16 | $4.6M | $291K | 22.2% |
| 445320 | Other | 16 | $4.8M | $300K | 22.2% |
| 312113 | Ice Manufacturing | 8 | $2.0M | $250K | 11.1% |
| 621111 | Offices of Physicians (except Mental Health Specialists) | 8 | $1.1M | $140K | 11.1% |
| 621330 | Offices of Mental Health Practitioners (except Physicians) | 8 | $2.0M | $250K | 11.1% |
| 445120 | Convenience Stores | 8 | $2.0M | $250K | 11.1% |
| 311421 | Fruit and Vegetable Canning | 8 | $2.8M | $350K | 11.1% |
Geographic Distribution
SBA lending activity for African Development Center by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 72 | $19.4M | 100.0% |
Why Choose African Development Center?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 72 SBA loans approved, totaling $19.4M in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Other, Ice Manufacturing
- ✓Competitive Terms: Average interest rate of 7.69% with flexible term lengths averaging 132 months
- ✓Loan Range: Loan sizes from $140K to $350K, with an average of $269K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MN
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 African Development Center SBA lending
What types of businesses does African Development Center typically finance?
African Development Center specializes in SBA 7(a) lending to specific industries including full-service restaurants, other, ice manufacturing, offices of physicians (except mental health specialists). They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are African Development Center's typical SBA loan terms?
African Development Center's SBA 7(a) loans typically feature an average interest rate of 7.69% and average term length of 132 months (approximately 11 years). Loan sizes range from $140K to $350K, with an average loan size of $269K.
Do I need a business valuation for a African Development Center SBA loan?
Yes, African Development Center 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 African Development Center compare to other SBA lenders?
African Development Center has originated 72 SBA loans totaling $19.4M 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 African Development Center lend in?
African Development Center provides SBA 7(a) financing with particularly strong presence in MN. 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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