Beginnings Credit Union
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Beginnings Credit Union · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 532412 | Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing | 1 | $1.4M | $1.4M | 20.0% |
| 611620 | Sports and Recreation Instruction | 1 | $25K | $25K | 20.0% |
Geographic Distribution
SBA lending activity for Beginnings Credit Union by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New York (NY) | 5 | $1.8M | 100.0% |
Why Choose Beginnings Credit Union?
Based on SBA 7(a) lending track record from 2006-2014
- ✓Proven Track Record: 5 SBA loans approved, totaling $1.8M in financing
- ✓Industry Expertise: Specialized focus on Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing, Sports and Recreation Instruction
- ✓Competitive Terms: Average interest rate of 6.00% with flexible term lengths averaging 88 months
- ✓Loan Range: Loan sizes from $25K to $1.4M, with an average of $369K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in NY
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 Beginnings Credit Union SBA lending
What types of businesses does Beginnings Credit Union typically finance?
Beginnings Credit Union specializes in SBA 7(a) lending to specific industries including construction, mining, and forestry machinery and equipment rental and leasing, sports and recreation instruction. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Beginnings Credit Union's typical SBA loan terms?
Beginnings Credit Union's SBA 7(a) loans typically feature an average interest rate of 6.00% and average term length of 88 months (approximately 7 years). Loan sizes range from $25K to $1.4M, with an average loan size of $369K.
Do I need a business valuation for a Beginnings Credit Union SBA loan?
Yes, Beginnings 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 Beginnings Credit Union compare to other SBA lenders?
Beginnings Credit Union has originated 5 SBA loans totaling $1.8M since 2006. 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 Beginnings Credit Union lend in?
Beginnings Credit Union provides SBA 7(a) financing with particularly strong presence in NY. 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.