First Federal Savings and Loan Association of Lakewood
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by First Federal Savings and Loan Association of Lakewood
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 541213 | Tax Preparation Services | 32 | $5.2M | $163K | 7.8% |
| 561730 | Landscaping Services | 24 | $12.2M | $509K | 5.9% |
| 541990 | All Other Professional, Scientific, and Technical Services | 24 | $3.0M | $127K | 5.9% |
| 237990 | Other Heavy and Civil Engineering Construction | 24 | $26.0M | $1.1M | 5.9% |
| 713940 | Fitness and Recreational Sports Centers | 24 | $8.2M | $342K | 5.9% |
| 812990 | All Other Personal Services | 24 | $6.3M | $261K | 5.9% |
| 561311 | Employment Placement Agencies | 16 | $3.7M | $233K | 3.9% |
| 236115 | New Single-Family Housing Construction (except Operative Builders) | 16 | $8.0M | $500K | 3.9% |
| 423210 | Furniture Merchant Wholesalers | 16 | $14.0M | $875K | 3.9% |
| 722330 | Mobile Food Services | 16 | $8.5M | $529K | 3.9% |
Geographic Distribution
SBA lending activity for First Federal Savings and Loan Association of Lakewood by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Ohio (OH) | 392 | $149.9M | 96.1% |
| Michigan (MI) | 8 | $11.3M | 2.0% |
| Maryland (MD) | 8 | $9.7M | 2.0% |
Why Choose First Federal Savings and Loan Association of Lakewood?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 408 SBA loans approved, totaling $170.9M in financing
- ✓Industry Expertise: Specialized focus on Tax Preparation Services, Landscaping Services, All Other Professional, Scientific, and Technical Services
- ✓Competitive Terms: Average interest rate of 7.25% with flexible term lengths averaging 123 months
- ✓Loan Range: Loan sizes from $20K to $2.5M, with an average of $419K
- ✓Nationwide Reach: Active lending in 3 states, with strong presence in OH, MD, 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 First Federal Savings and Loan Association of Lakewood SBA lending
What types of businesses does First Federal Savings and Loan Association of Lakewood typically finance?
First Federal Savings and Loan Association of Lakewood specializes in SBA 7(a) lending to specific industries including tax preparation services, landscaping services, all other professional, scientific, and technical services, other heavy and civil engineering construction. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First Federal Savings and Loan Association of Lakewood's typical SBA loan terms?
First Federal Savings and Loan Association of Lakewood's SBA 7(a) loans typically feature an average interest rate of 7.25% and average term length of 123 months (approximately 10 years). Loan sizes range from $20K to $2.5M, with an average loan size of $419K.
Do I need a business valuation for a First Federal Savings and Loan Association of Lakewood SBA loan?
Yes, First Federal Savings and Loan Association of Lakewood 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 First Federal Savings and Loan Association of Lakewood compare to other SBA lenders?
First Federal Savings and Loan Association of Lakewood has originated 408 SBA loans totaling $170.9M 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 First Federal Savings and Loan Association of Lakewood lend in?
First Federal Savings and Loan Association of Lakewood provides SBA 7(a) financing with particularly strong presence in OH, MD, 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?
Professional valuations are often required for SBA loans over $250,000.
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