Altra Federal Credit Union
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Altra Federal Credit Union · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 713940 | Fitness and Recreational Sports Centers | 12 | $3.0M | $247K | 6.5% |
| 722513 | Limited-Service Restaurants | 8 | $1.1M | $142K | 4.3% |
| 812112 | Beauty Salons | 8 | $430K | $54K | 4.3% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 8 | $1.2M | $151K | 4.3% |
| 722511 | Full-Service Restaurants | 6 | $2.2M | $370K | 3.2% |
| 722410 | Drinking Places (Alcoholic Beverages) | 5 | $702K | $140K | 2.7% |
| 811192 | Car Washes | 5 | $2.1M | $426K | 2.7% |
| 621310 | Offices of Chiropractors | 4 | $328K | $82K | 2.2% |
| 484121 | General Freight Trucking, Long-Distance, Truckload | 3 | $152K | $51K | 1.6% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 3 | $846K | $282K | 1.6% |
Geographic Distribution
SBA lending activity for Altra Federal Credit Union by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Wisconsin (WI) | 118 | $29.2M | 63.8% |
| Minnesota (MN) | 22 | $9.8M | 11.9% |
| Texas (TX) | 33 | $8.5M | 17.8% |
| Tennessee (TN) | 10 | $1.6M | 5.4% |
| Utah (UT) | 1 | $304K | 0.5% |
| Georgia (GA) | 1 | $51K | 0.5% |
Why Choose Altra Federal Credit Union?
Based on SBA 7(a) lending track record from 2000-2024
- ✓Proven Track Record: 185 SBA loans approved, totaling $49.5M in financing
- ✓Industry Expertise: Specialized focus on Fitness and Recreational Sports Centers, Limited-Service Restaurants, Beauty Salons
- ✓Competitive Terms: Average interest rate of 5.83% with flexible term lengths averaging 114 months
- ✓Loan Range: Loan sizes from $10K to $3.7M, with an average of $268K
- ✓Nationwide Reach: Active lending in 6 states, with strong presence in WI, TX, 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 Altra Federal Credit Union SBA lending
What types of businesses does Altra Federal Credit Union typically finance?
Altra Federal Credit Union specializes in SBA 7(a) lending to specific industries including fitness and recreational sports centers, limited-service restaurants, beauty salons, plumbing, heating, and air-conditioning contractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Altra Federal Credit Union's typical SBA loan terms?
Altra Federal Credit Union's SBA 7(a) loans typically feature an average interest rate of 5.83% and average term length of 114 months (approximately 10 years). Loan sizes range from $10K to $3.7M, with an average loan size of $268K.
Do I need a business valuation for a Altra Federal Credit Union SBA loan?
Yes, Altra Federal Credit Union 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 Altra Federal Credit Union compare to other SBA lenders?
Altra Federal Credit Union has originated 185 SBA loans totaling $49.5M since 2000. 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 Altra Federal Credit Union lend in?
Altra Federal Credit Union provides SBA 7(a) financing with particularly strong presence in WI, TX, MN, TN, GA. 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.
Explore Industry Reports →Need a Business Valuation?
Certified valuations are often required for SBA loans over $250,000.
Get your certified valuation from Fair Market Value.