Detroit Development Fund
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Detroit Development Fund · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 445230 | Fruit and Vegetable Retailers | 1 | $187K | $187K | 33.3% |
| 624410 | Child Care Services | 1 | $173K | $173K | 33.3% |
| 312140 | Distilleries | 1 | $213K | $213K | 33.3% |
Geographic Distribution
SBA lending activity for Detroit Development Fund by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Michigan (MI) | 3 | $573K | 100.0% |
Why Choose Detroit Development Fund?
Based on SBA 7(a) lending track record from 2016-2016
- ✓Proven Track Record: 3 SBA loans approved, totaling $573K in financing
- ✓Industry Expertise: Specialized focus on Fruit and Vegetable Retailers, Child Care Services, Distilleries
- ✓Competitive Terms: Average interest rate of 7.83% with flexible term lengths averaging 180 months
- ✓Loan Range: Loan sizes from $173K to $213K, with an average of $191K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MI
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 Detroit Development Fund SBA lending
What types of businesses does Detroit Development Fund typically finance?
Detroit Development Fund specializes in SBA 7(a) lending to specific industries including fruit and vegetable retailers, child care services, distilleries. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Detroit Development Fund's typical SBA loan terms?
Detroit Development Fund's SBA 7(a) loans typically feature an average interest rate of 7.83% and average term length of 180 months (approximately 15 years). Loan sizes range from $173K to $213K, with an average loan size of $191K.
Do I need a business valuation for a Detroit Development Fund SBA loan?
Yes, Detroit Development Fund 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 Detroit Development Fund compare to other SBA lenders?
Detroit Development Fund has originated 3 SBA loans totaling $573K since 2016. 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 Detroit Development Fund lend in?
Detroit Development Fund provides SBA 7(a) financing with particularly strong presence in MI. 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.