Faith Community United Credit Union Inc
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Faith Community United Credit Union Inc · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 624410 | Child Care Services | 4 | $502K | $126K | 15.4% |
| 722513 | Limited-Service Restaurants | 3 | $360K | $120K | 11.5% |
| 722511 | Full-Service Restaurants | 3 | $313K | $104K | 11.5% |
| 611511 | Cosmetology and Barber Schools | 2 | $165K | $83K | 7.7% |
| 561730 | Landscaping Services | 2 | $225K | $113K | 7.7% |
| 713940 | Fitness and Recreational Sports Centers | 1 | $150K | $150K | 3.8% |
| 811111 | General Automotive Repair | 1 | $99K | $99K | 3.8% |
| 623312 | Assisted Living Facilities for the Elderly | 1 | $150K | $150K | 3.8% |
| 812111 | Barber Shops | 1 | $70K | $70K | 3.8% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 1 | $75K | $75K | 3.8% |
Geographic Distribution
SBA lending activity for Faith Community United Credit Union Inc by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Ohio (OH) | 26 | $2.8M | 100.0% |
Why Choose Faith Community United Credit Union Inc?
Based on SBA 7(a) lending track record from 2000-2019
- ✓Proven Track Record: 26 SBA loans approved, totaling $2.8M in financing
- ✓Industry Expertise: Specialized focus on Child Care Services, Limited-Service Restaurants, Full-Service Restaurants
- ✓Competitive Terms: Average interest rate of 8.32% with flexible term lengths averaging 99 months
- ✓Loan Range: Loan sizes from $6K to $351K, with an average of $109K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in 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 Faith Community United Credit Union Inc SBA lending
What types of businesses does Faith Community United Credit Union Inc typically finance?
Faith Community United Credit Union Inc specializes in SBA 7(a) lending to specific industries including child care services, limited-service restaurants, full-service restaurants, cosmetology and barber schools. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Faith Community United Credit Union Inc's typical SBA loan terms?
Faith Community United Credit Union Inc's SBA 7(a) loans typically feature an average interest rate of 8.32% and average term length of 99 months (approximately 8 years). Loan sizes range from $6K to $351K, with an average loan size of $109K.
Do I need a business valuation for a Faith Community United Credit Union Inc SBA loan?
Yes, Faith Community United Credit Union Inc 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 Faith Community United Credit Union Inc compare to other SBA lenders?
Faith Community United Credit Union Inc has originated 26 SBA loans totaling $2.8M since 2000. 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 Faith Community United Credit Union Inc lend in?
Faith Community United Credit Union Inc provides SBA 7(a) financing with particularly strong presence in 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.
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