Honda FCU
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Honda FCU · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|
Geographic Distribution
SBA lending activity for Honda FCU by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Illinois (IL) | 1 | $608K | 50.0% |
| South Carolina (SC) | 1 | $291K | 50.0% |
Why Choose Honda FCU?
Based on SBA 7(a) lending track record from 2013-2014
- ✓Proven Track Record: 2 SBA loans approved, totaling $899K in financing
- ✓Industry Expertise: Specialized focus on
- ✓Competitive Terms: Average interest rate of 5.88% with flexible term lengths averaging 180 months
- ✓Loan Range: Loan sizes from $291K to $608K, with an average of $450K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in IL, SC
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 Honda FCU SBA lending
What types of businesses does Honda FCU typically finance?
Honda FCU specializes in SBA 7(a) lending to specific industries including . They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Honda FCU's typical SBA loan terms?
Honda FCU's SBA 7(a) loans typically feature an average interest rate of 5.88% and average term length of 180 months (approximately 15 years). Loan sizes range from $291K to $608K, with an average loan size of $450K.
Do I need a business valuation for a Honda FCU SBA loan?
Yes, Honda FCU 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 Honda FCU compare to other SBA lenders?
Honda FCU has originated 2 SBA loans totaling $899K since 2013. 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 Honda FCU lend in?
Honda FCU provides SBA 7(a) financing with particularly strong presence in IL, SC. 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.
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