EastRise Federal Credit Union
SBA 7(a) Lending Profile · FY 2020 analysis
Industry Focus
Top industries served by EastRise Federal Credit Union · FY 2020
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 484220 | Specialized Freight (except Used Goods) Trucking, Local | 2 | $53K | $26K | 18.2% |
| 424990 | Other Miscellaneous Nondurable Goods Merchant Wholesalers | 1 | $200K | $200K | 9.1% |
| 115113 | Crop Harvesting, Primarily by Machine | 1 | $176K | $176K | 9.1% |
| 484121 | General Freight Trucking, Long-Distance, Truckload | 1 | $17K | $17K | 9.1% |
| 722511 | Full-Service Restaurants | 1 | $172K | $172K | 9.1% |
| 711510 | Independent Artists, Writers, and Performers | 1 | $10K | $10K | 9.1% |
| 611699 | All Other Miscellaneous Schools and Instruction | 1 | $30K | $30K | 9.1% |
Geographic Distribution
SBA lending activity for EastRise Federal Credit Union by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Vermont (VT) | 11 | $853K | 100.0% |
Why Choose EastRise Federal Credit Union?
Based on SBA 7(a) lending track record in FY 2020
- ✓Proven Track Record: 11 SBA loans approved, totaling $853K in financing
- ✓Industry Expertise: Specialized focus on Specialized Freight (except Used Goods) Trucking, Local, Other Miscellaneous Nondurable Goods Merchant Wholesalers, Crop Harvesting, Primarily by Machine
- ✓Competitive Terms: Average interest rate of 5.60% with flexible term lengths averaging 67 months
- ✓Loan Range: Loan sizes from $10K to $200K, with an average of $78K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in VT
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 EastRise Federal Credit Union SBA lending
What types of businesses does EastRise Federal Credit Union typically finance?
EastRise Federal Credit Union specializes in SBA 7(a) lending to specific industries including specialized freight (except used goods) trucking, local, other miscellaneous nondurable goods merchant wholesalers, crop harvesting, primarily by machine, general freight trucking, long-distance, truckload. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are EastRise Federal Credit Union's typical SBA loan terms?
EastRise Federal Credit Union's SBA 7(a) loans typically feature an average interest rate of 5.60% and average term length of 67 months (approximately 6 years). Loan sizes range from $10K to $200K, with an average loan size of $78K.
Do I need a business valuation for a EastRise Federal Credit Union SBA loan?
Yes, EastRise 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 EastRise Federal Credit Union compare to other SBA lenders?
EastRise Federal Credit Union has originated 11 SBA loans totaling $853K in FY 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 EastRise Federal Credit Union lend in?
EastRise Federal Credit Union provides SBA 7(a) financing with particularly strong presence in VT. 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.
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