Forum CU
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Forum CU · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 812112 | Beauty Salons | 4 | $420K | $105K | 5.2% |
| 238210 | Electrical Contractors and Other Wiring Installation Contractors | 3 | $475K | $158K | 3.9% |
| 722320 | Caterers | 3 | $639K | $213K | 3.9% |
| 321211 | Hardwood Veneer and Plywood Manufacturing | 2 | $550K | $275K | 2.6% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 2 | $47K | $24K | 2.6% |
| 541611 | Administrative Management and General Management Consulting Services | 2 | $300K | $150K | 2.6% |
| 561740 | Carpet and Upholstery Cleaning Services | 2 | $107K | $53K | 2.6% |
| 484121 | General Freight Trucking, Long-Distance, Truckload | 2 | $223K | $111K | 2.6% |
| 624410 | Child Care Services | 2 | $50K | $25K | 2.6% |
| 611699 | All Other Miscellaneous Schools and Instruction | 2 | $1.5M | $738K | 2.6% |
Geographic Distribution
SBA lending activity for Forum CU by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Indiana (IN) | 77 | $14.0M | 100.0% |
Why Choose Forum CU?
Based on SBA 7(a) lending track record from 2001-2016
- ✓Proven Track Record: 77 SBA loans approved, totaling $14.0M in financing
- ✓Industry Expertise: Specialized focus on Beauty Salons, Electrical Contractors and Other Wiring Installation Contractors, Caterers
- ✓Competitive Terms: Average interest rate of 5.68% with flexible term lengths averaging 84 months
- ✓Loan Range: Loan sizes from $8K to $1.2M, with an average of $181K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in IN
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 Forum CU SBA lending
What types of businesses does Forum CU typically finance?
Forum CU specializes in SBA 7(a) lending to specific industries including beauty salons, electrical contractors and other wiring installation contractors, caterers, hardwood veneer and plywood manufacturing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Forum CU's typical SBA loan terms?
Forum CU's SBA 7(a) loans typically feature an average interest rate of 5.68% and average term length of 84 months (approximately 7 years). Loan sizes range from $8K to $1.2M, with an average loan size of $181K.
Do I need a business valuation for a Forum CU SBA loan?
Yes, Forum CU 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 Forum CU compare to other SBA lenders?
Forum CU has originated 77 SBA loans totaling $14.0M since 2001. 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 Forum CU lend in?
Forum CU provides SBA 7(a) financing with particularly strong presence in IN. 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.