Greater Iowa CU
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Greater Iowa CU · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 621112 | Offices of Physicians, Mental Health Specialists | 2 | $60K | $30K | 33.3% |
| 812112 | Beauty Salons | 1 | $80K | $80K | 16.7% |
| 722515 | Snack and Nonalcoholic Beverage Bars | 1 | $504K | $504K | 16.7% |
| 713940 | Fitness and Recreational Sports Centers | 1 | $50K | $50K | 16.7% |
Geographic Distribution
SBA lending activity for Greater Iowa CU by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Iowa (IA) | 6 | $724K | 100.0% |
Why Choose Greater Iowa CU?
Based on SBA 7(a) lending track record from 2015-2018
- ✓Proven Track Record: 6 SBA loans approved, totaling $724K in financing
- ✓Industry Expertise: Specialized focus on Offices of Physicians, Mental Health Specialists, Beauty Salons, Snack and Nonalcoholic Beverage Bars
- ✓Competitive Terms: Average interest rate of 5.73% with flexible term lengths averaging 68 months
- ✓Loan Range: Loan sizes from $30K to $504K, with an average of $121K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in IA
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 Greater Iowa CU SBA lending
What types of businesses does Greater Iowa CU typically finance?
Greater Iowa CU specializes in SBA 7(a) lending to specific industries including offices of physicians, mental health specialists, beauty salons, snack and nonalcoholic beverage bars, fitness and recreational sports centers. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Greater Iowa CU's typical SBA loan terms?
Greater Iowa CU's SBA 7(a) loans typically feature an average interest rate of 5.73% and average term length of 68 months (approximately 6 years). Loan sizes range from $30K to $504K, with an average loan size of $121K.
Do I need a business valuation for a Greater Iowa CU SBA loan?
Yes, Greater Iowa 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 Greater Iowa CU compare to other SBA lenders?
Greater Iowa CU has originated 6 SBA loans totaling $724K since 2015. 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 Greater Iowa CU lend in?
Greater Iowa CU provides SBA 7(a) financing with particularly strong presence in IA. 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.