Central Virginia Federal Credit Union
SBA 7(a) Lending Profile · FY 2024 analysis
Industry Focus
Top industries served by Central Virginia Federal Credit Union
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 236118 | Residential Remodelers | 8 | $120K | $15K | 9.1% |
| 722330 | Mobile Food Services | 8 | $720K | $90K | 9.1% |
| 493190 | Other Warehousing and Storage | 8 | $252K | $32K | 9.1% |
| 339930 | Doll, Toy, and Game Manufacturing | 8 | $400K | $50K | 9.1% |
| 561730 | Landscaping Services | 8 | $320K | $40K | 9.1% |
| 812910 | Pet Care (except Veterinary) Services | 8 | $480K | $60K | 9.1% |
| 812990 | All Other Personal Services | 8 | $240K | $30K | 9.1% |
| 238990 | All Other Specialty Trade Contractors | 8 | $1.8M | $230K | 9.1% |
| 332710 | Machine Shops | 8 | $200K | $25K | 9.1% |
| 423860 | Transportation Equipment and Supplies (except Motor Vehicle) Merchant | 8 | $496K | $62K | 9.1% |
Geographic Distribution
SBA lending activity for Central Virginia Federal Credit Union by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Virginia (VA) | 88 | $5.9M | 100.0% |
Why Choose Central Virginia Federal Credit Union?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 88 SBA loans approved, totaling $5.9M in financing
- ✓Industry Expertise: Specialized focus on Residential Remodelers, Mobile Food Services, Other Warehousing and Storage
- ✓Competitive Terms: Average interest rate of 6.98% with flexible term lengths averaging 119 months
- ✓Loan Range: Loan sizes from $15K to $230K, with an average of $67K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in VA
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 Central Virginia Federal Credit Union SBA lending
What types of businesses does Central Virginia Federal Credit Union typically finance?
Central Virginia Federal Credit Union specializes in SBA 7(a) lending to specific industries including residential remodelers, mobile food services, other warehousing and storage, doll, toy, and game manufacturing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Central Virginia Federal Credit Union's typical SBA loan terms?
Central Virginia Federal Credit Union's SBA 7(a) loans typically feature an average interest rate of 6.98% and average term length of 119 months (approximately 10 years). Loan sizes range from $15K to $230K, with an average loan size of $67K.
Do I need a business valuation for a Central Virginia Federal Credit Union SBA loan?
Yes, Central Virginia 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 Central Virginia Federal Credit Union compare to other SBA lenders?
Central Virginia Federal Credit Union has originated 88 SBA loans totaling $5.9M 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 Central Virginia Federal Credit Union lend in?
Central Virginia Federal Credit Union provides SBA 7(a) financing with particularly strong presence in VA. 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.
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