Coastal1 Credit Union
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Coastal1 Credit Union · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 5 | $1.8M | $366K | 8.8% |
| 722513 | Limited-Service Restaurants | 5 | $840K | $168K | 8.8% |
| 524210 | Insurance Agencies and Brokerages | 4 | $5.7M | $1.4M | 7.0% |
| 811111 | General Automotive Repair | 3 | $318K | $106K | 5.3% |
| 445291 | Baked Goods Retailers | 2 | $756K | $378K | 3.5% |
| 621498 | All Other Outpatient Care Centers | 2 | $300K | $150K | 3.5% |
| 484110 | General Freight Trucking, Local | 2 | $625K | $313K | 3.5% |
| 332999 | All Other Miscellaneous Fabricated Metal Product Manufacturing | 2 | $2.3M | $1.2M | 3.5% |
| 424410 | General Line Grocery Merchant Wholesalers | 2 | $1.4M | $719K | 3.5% |
| 541310 | Architectural Services | 2 | $425K | $213K | 3.5% |
Geographic Distribution
SBA lending activity for Coastal1 Credit Union by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Rhode Island (RI) | 45 | $16.4M | 78.9% |
| Massachusetts (MA) | 12 | $2.6M | 21.1% |
Why Choose Coastal1 Credit Union?
Based on SBA 7(a) lending track record from 2013-2024
- ✓Proven Track Record: 57 SBA loans approved, totaling $19.0M in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Limited-Service Restaurants, Insurance Agencies and Brokerages
- ✓Competitive Terms: Average interest rate of 5.43% with flexible term lengths averaging 119 months
- ✓Loan Range: Loan sizes from $25K to $2.6M, with an average of $334K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in RI, MA
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 Coastal1 Credit Union SBA lending
What types of businesses does Coastal1 Credit Union typically finance?
Coastal1 Credit Union specializes in SBA 7(a) lending to specific industries including full-service restaurants, limited-service restaurants, insurance agencies and brokerages, general automotive repair. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Coastal1 Credit Union's typical SBA loan terms?
Coastal1 Credit Union's SBA 7(a) loans typically feature an average interest rate of 5.43% and average term length of 119 months (approximately 10 years). Loan sizes range from $25K to $2.6M, with an average loan size of $334K.
Do I need a business valuation for a Coastal1 Credit Union SBA loan?
Yes, Coastal1 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 Coastal1 Credit Union compare to other SBA lenders?
Coastal1 Credit Union has originated 57 SBA loans totaling $19.0M since 2013. 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 Coastal1 Credit Union lend in?
Coastal1 Credit Union provides SBA 7(a) financing with particularly strong presence in RI, MA. 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.