Community Choice CU
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by Community Choice CU
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722513 | Limited-Service Restaurants | 56 | $47.0M | $840K | 10.9% |
| 722511 | Full-Service Restaurants | 40 | $60.3M | $1.5M | 7.8% |
| 561730 | Landscaping Services | 24 | $18.2M | $760K | 4.7% |
| 621111 | Offices of Physicians (except Mental Health Specialists) | 16 | $14.8M | $926K | 3.1% |
| 444140 | Other | 16 | $5.8M | $365K | 3.1% |
| 332312 | Fabricated Structural Metal Manufacturing | 16 | $22.2M | $1.4M | 3.1% |
| 484121 | General Freight Trucking, Long Distance, Truckload | 16 | $13.7M | $858K | 3.1% |
| 238990 | All Other Specialty Trade Contractors | 16 | $240K | $15K | 3.1% |
| 621610 | Home Health Care Services | 8 | $11.7M | $1.5M | 1.6% |
| 238150 | Glass and Glazing Contractors | 8 | $130K | $16K | 1.6% |
Geographic Distribution
SBA lending activity for Community Choice CU by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Michigan (MI) | 464 | $245.7M | 90.6% |
| Ohio (OH) | 48 | $46.5M | 9.4% |
Why Choose Community Choice CU?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 512 SBA loans approved, totaling $292.2M in financing
- ✓Industry Expertise: Specialized focus on Limited-Service Restaurants, Full-Service Restaurants, Landscaping Services
- ✓Competitive Terms: Average interest rate of 8.51% with flexible term lengths averaging 144 months
- ✓Loan Range: Loan sizes from $10K to $4.4M, with an average of $571K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in MI, OH
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 Community Choice CU SBA lending
What types of businesses does Community Choice CU typically finance?
Community Choice CU specializes in SBA 7(a) lending to specific industries including limited-service restaurants, full-service restaurants, landscaping services, offices of physicians (except mental health specialists). They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Community Choice CU's typical SBA loan terms?
Community Choice CU's SBA 7(a) loans typically feature an average interest rate of 8.51% and average term length of 144 months (approximately 12 years). Loan sizes range from $10K to $4.4M, with an average loan size of $571K.
Do I need a business valuation for a Community Choice CU SBA loan?
Yes, Community Choice CU 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 Community Choice CU compare to other SBA lenders?
Community Choice CU has originated 512 SBA loans totaling $292.2M 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 Community Choice CU lend in?
Community Choice CU provides SBA 7(a) financing with particularly strong presence in MI, OH. 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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