Greenwood CU
SBA 7(a) Lending Profile · FY 2021 analysis
Industry Focus
Top industries served by Greenwood CU
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 812910 | Pet Care (except Veterinary) Services | 16 | $1.6M | $100K | 25.0% |
| 722511 | Full-Service Restaurants | 8 | $3.2M | $400K | 12.5% |
| 531320 | Offices of Real Estate Appraisers | 8 | $1.2M | $150K | 12.5% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 8 | $400K | $50K | 12.5% |
| 327991 | Cut Stone and Stone Product Manufacturing | 8 | $800K | $100K | 12.5% |
| 722515 | Snack and Nonalcoholic Beverage Bars | 8 | $2.1M | $265K | 12.5% |
| 561730 | Landscaping Services | 8 | $800K | $100K | 12.5% |
Geographic Distribution
SBA lending activity for Greenwood CU by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Rhode Island (RI) | 64 | $10.1M | 100.0% |
Why Choose Greenwood CU?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 64 SBA loans approved, totaling $10.1M in financing
- ✓Industry Expertise: Specialized focus on Pet Care (except Veterinary) Services, Full-Service Restaurants, Offices of Real Estate Appraisers
- ✓Competitive Terms: Average interest rate of 5.13% with flexible term lengths averaging 106 months
- ✓Loan Range: Loan sizes from $50K to $400K, with an average of $158K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in RI
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 pet care (except veterinary) services, full-service restaurants, offices of real estate appraisers, automotive body, paint, and interior repair and maintenance. 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 5.13% and average term length of 106 months (approximately 9 years). Loan sizes range from $50K to $400K, with an average loan size of $158K.
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 64 SBA loans totaling $10.1M 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 Greenwood CU lend in?
Greenwood CU provides SBA 7(a) financing with particularly strong presence in RI. 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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