Freedom First Federal Credit Union
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Freedom First Federal Credit Union
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 24 | $6.6M | $274K | 23.1% |
| 541620 | Environmental Consulting Services | 16 | $1.0M | $63K | 15.4% |
| 523930 | Investment Advice | 8 | $1.0M | $125K | 7.7% |
| 332710 | Machine Shops | 8 | $1.6M | $200K | 7.7% |
| 541940 | Veterinary Services | 8 | $800K | $100K | 7.7% |
| 621111 | Offices of Physicians (except Mental Health Specialists) | 8 | $400K | $50K | 7.7% |
| 561720 | Janitorial Services | 8 | $728K | $91K | 7.7% |
| 713940 | Fitness and Recreational Sports Centers | 8 | $360K | $45K | 7.7% |
| 713930 | Marinas | 8 | $800K | $100K | 7.7% |
| 812111 | Barber Shops | 8 | $176K | $22K | 7.7% |
Geographic Distribution
SBA lending activity for Freedom First Federal Credit Union by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Virginia (VA) | 104 | $13.4M | 100.0% |
Why Choose Freedom First Federal Credit Union?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 104 SBA loans approved, totaling $13.4M in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Environmental Consulting Services, Investment Advice
- ✓Competitive Terms: Average interest rate of 7.08% with flexible term lengths averaging 74 months
- ✓Loan Range: Loan sizes from $22K to $500K, with an average of $129K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in VA
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 Freedom First Federal Credit Union SBA lending
What types of businesses does Freedom First Federal Credit Union typically finance?
Freedom First Federal Credit Union specializes in SBA 7(a) lending to specific industries including full-service restaurants, environmental consulting services, investment advice, machine shops. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Freedom First Federal Credit Union's typical SBA loan terms?
Freedom First Federal Credit Union's SBA 7(a) loans typically feature an average interest rate of 7.08% and average term length of 74 months (approximately 6 years). Loan sizes range from $22K to $500K, with an average loan size of $129K.
Do I need a business valuation for a Freedom First Federal Credit Union SBA loan?
Yes, Freedom First 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 Freedom First Federal Credit Union compare to other SBA lenders?
Freedom First Federal Credit Union has originated 104 SBA loans totaling $13.4M 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 Freedom First Federal Credit Union lend in?
Freedom First Federal Credit Union provides SBA 7(a) financing with particularly strong presence in VA. 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.
Get your certified valuation from Fair Market Value.