Cyprus Federal Credit Union
SBA 7(a) Lending Profile · FY 2024 analysis
Industry Focus
Top industries served by Cyprus Federal Credit Union
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 484110 | General Freight Trucking, Local | 16 | $568K | $36K | 6.1% |
| 621310 | Offices of Chiropractors | 16 | $720K | $45K | 6.1% |
| 238990 | All Other Specialty Trade Contractors | 16 | $840K | $53K | 6.1% |
| 423860 | Transportation Equipment and Supplies (except Motor Vehicle) Merchant | 16 | $2.3M | $143K | 6.1% |
| 323111 | Commercial Gravure Printing | 16 | $1.0M | $65K | 6.1% |
| 238210 | Electrical Contractors | 16 | $560K | $35K | 6.1% |
| 339999 | All Other Miscellaneous Manufacturing | 8 | $400K | $50K | 3.0% |
| 814110 | Private Households | 8 | $288K | $36K | 3.0% |
| 713940 | Fitness and Recreational Sports Centers | 8 | $1.6M | $200K | 3.0% |
| 532289 | Other | 8 | $320K | $40K | 3.0% |
Geographic Distribution
SBA lending activity for Cyprus Federal Credit Union by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Utah (UT) | 264 | $27.3M | 100.0% |
Why Choose Cyprus Federal Credit Union?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 264 SBA loans approved, totaling $27.3M in financing
- ✓Industry Expertise: Specialized focus on General Freight Trucking, Local, Offices of Chiropractors, All Other Specialty Trade Contractors
- ✓Competitive Terms: Average interest rate of 10.25% with flexible term lengths averaging 93 months
- ✓Loan Range: Loan sizes from $15K to $856K, with an average of $103K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in UT
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 Cyprus Federal Credit Union SBA lending
What types of businesses does Cyprus Federal Credit Union typically finance?
Cyprus Federal Credit Union specializes in SBA 7(a) lending to specific industries including general freight trucking, local, offices of chiropractors, all other specialty trade contractors, transportation equipment and supplies (except motor vehicle) merchant . They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Cyprus Federal Credit Union's typical SBA loan terms?
Cyprus Federal Credit Union's SBA 7(a) loans typically feature an average interest rate of 10.25% and average term length of 93 months (approximately 8 years). Loan sizes range from $15K to $856K, with an average loan size of $103K.
Do I need a business valuation for a Cyprus Federal Credit Union SBA loan?
Yes, Cyprus 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 Cyprus Federal Credit Union compare to other SBA lenders?
Cyprus Federal Credit Union has originated 264 SBA loans totaling $27.3M 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 Cyprus Federal Credit Union lend in?
Cyprus Federal Credit Union provides SBA 7(a) financing with particularly strong presence in UT. 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.
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