Greenwood CU
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Greenwood CU · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 6 | $2.2M | $368K | 7.4% |
| 713940 | Fitness and Recreational Sports Centers | 5 | $265K | $53K | 6.2% |
| 541940 | Veterinary Services | 4 | $1.5M | $380K | 4.9% |
| 484110 | General Freight Trucking, Local | 4 | $282K | $71K | 4.9% |
| 561730 | Landscaping Services | 4 | $221K | $55K | 4.9% |
| 531120 | Lessors of Nonresidential Buildings (except Miniwarehouses) | 3 | $273K | $91K | 3.7% |
| 541110 | Offices of Lawyers | 3 | $140K | $47K | 3.7% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 3 | $250K | $83K | 3.7% |
| 541211 | Offices of Certified Public Accountants | 3 | $129K | $43K | 3.7% |
| 812910 | Pet Care (except Veterinary) Services | 3 | $250K | $83K | 3.7% |
Geographic Distribution
SBA lending activity for Greenwood CU by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Rhode Island (RI) | 80 | $9.9M | 98.8% |
| Massachusetts (MA) | 1 | $100K | 1.2% |
Why Choose Greenwood CU?
Based on SBA 7(a) lending track record from 2002-2022
- ✓Proven Track Record: 81 SBA loans approved, totaling $10.0M in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Fitness and Recreational Sports Centers, Veterinary Services
- ✓Competitive Terms: Average interest rate of 5.78% with flexible term lengths averaging 98 months
- ✓Loan Range: Loan sizes from $10K to $1.3M, with an average of $123K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in RI, MA
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 Greenwood CU SBA lending
What types of businesses does Greenwood CU typically finance?
Greenwood CU specializes in SBA 7(a) lending to specific industries including full-service restaurants, fitness and recreational sports centers, veterinary services, general freight trucking, local. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Greenwood CU's typical SBA loan terms?
Greenwood CU's SBA 7(a) loans typically feature an average interest rate of 5.78% and average term length of 98 months (approximately 8 years). Loan sizes range from $10K to $1.3M, with an average loan size of $123K.
Do I need a business valuation for a Greenwood CU SBA loan?
Yes, Greenwood 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 Greenwood CU compare to other SBA lenders?
Greenwood CU has originated 81 SBA loans totaling $10.0M since 2002. 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 Greenwood CU lend in?
Greenwood CU provides SBA 7(a) financing with particularly strong presence in RI, MA. 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.
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