Awakon FCU
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Awakon FCU · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811192 | Car Washes | 1 | $221K | $221K | 25.0% |
| 722410 | Drinking Places (Alcoholic Beverages) | 1 | $208K | $208K | 25.0% |
| 722511 | Full-Service Restaurants | 1 | $246K | $246K | 25.0% |
Geographic Distribution
SBA lending activity for Awakon FCU by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Michigan (MI) | 4 | $845K | 100.0% |
Why Choose Awakon FCU?
Based on SBA 7(a) lending track record from 2016-2020
- ✓Proven Track Record: 4 SBA loans approved, totaling $845K in financing
- ✓Industry Expertise: Specialized focus on Car Washes, Drinking Places (Alcoholic Beverages), Full-Service Restaurants
- ✓Competitive Terms: Average interest rate of 6.13% with flexible term lengths averaging 225 months
- ✓Loan Range: Loan sizes from $170K to $246K, with an average of $211K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MI
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 Awakon FCU SBA lending
What types of businesses does Awakon FCU typically finance?
Awakon FCU specializes in SBA 7(a) lending to specific industries including car washes, drinking places (alcoholic beverages), full-service restaurants. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Awakon FCU's typical SBA loan terms?
Awakon FCU's SBA 7(a) loans typically feature an average interest rate of 6.13% and average term length of 225 months (approximately 19 years). Loan sizes range from $170K to $246K, with an average loan size of $211K.
Do I need a business valuation for a Awakon FCU SBA loan?
Yes, Awakon FCU 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 Awakon FCU compare to other SBA lenders?
Awakon FCU has originated 4 SBA loans totaling $845K since 2016. 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 Awakon FCU lend in?
Awakon FCU provides SBA 7(a) financing with particularly strong presence in MI. 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?
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