BayPort Federal Credit Union
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by BayPort Federal Credit Union
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 484110 | General Freight Trucking, Local | 40 | $1.9M | $47K | 16.1% |
| 713940 | Fitness and Recreational Sports Centers | 16 | $1.7M | $107K | 6.5% |
| 237110 | Water and Sewer Line and Related Structures Construction | 16 | $1.5M | $97K | 6.5% |
| 722513 | Limited-Service Restaurants | 16 | $2.3M | $141K | 6.5% |
| 488510 | Freight Transportation Arrangement | 8 | $520K | $65K | 3.2% |
| 485991 | Special Needs Transportation | 8 | $280K | $35K | 3.2% |
| 339950 | Sign Manufacturing | 8 | $540K | $68K | 3.2% |
| 332813 | Electroplating, Plating, Polishing, Anodizing, and Coloring | 8 | $350K | $44K | 3.2% |
| 711510 | Independent Artists, Writers, and Performers | 8 | $1.2M | $150K | 3.2% |
| 484121 | General Freight Trucking, Long Distance, Truckload | 8 | $360K | $45K | 3.2% |
Geographic Distribution
SBA lending activity for BayPort Federal Credit Union by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Virginia (VA) | 240 | $28.9M | 96.8% |
| North Carolina (NC) | 8 | $198K | 3.2% |
Why Choose BayPort Federal Credit Union?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 248 SBA loans approved, totaling $29.1M in financing
- ✓Industry Expertise: Specialized focus on General Freight Trucking, Local, Fitness and Recreational Sports Centers, Water and Sewer Line and Related Structures Construction
- ✓Competitive Terms: Average interest rate of 7.40% with flexible term lengths averaging 89 months
- ✓Loan Range: Loan sizes from $25K to $530K, with an average of $117K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in VA, NC
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 BayPort Federal Credit Union SBA lending
What types of businesses does BayPort Federal Credit Union typically finance?
BayPort Federal Credit Union specializes in SBA 7(a) lending to specific industries including general freight trucking, local, fitness and recreational sports centers, water and sewer line and related structures construction, limited-service restaurants. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are BayPort Federal Credit Union's typical SBA loan terms?
BayPort Federal Credit Union's SBA 7(a) loans typically feature an average interest rate of 7.40% and average term length of 89 months (approximately 7 years). Loan sizes range from $25K to $530K, with an average loan size of $117K.
Do I need a business valuation for a BayPort Federal Credit Union SBA loan?
Yes, BayPort 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 BayPort Federal Credit Union compare to other SBA lenders?
BayPort Federal Credit Union has originated 248 SBA loans totaling $29.1M 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 BayPort Federal Credit Union lend in?
BayPort Federal Credit Union provides SBA 7(a) financing with particularly strong presence in VA, NC. 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?
Professional valuations are often required for SBA loans over $250,000.
Get your certified valuation from Fair Market Value.