Innovations Financial Credit Union
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Innovations Financial Credit Union · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 624410 | Child Care Services | 16 | $5.6M | $348K | 6.2% |
| 721110 | Hotels (except Casino Hotels) and Motels | 10 | $10.6M | $1.1M | 3.9% |
| 621210 | Offices of Dentists | 9 | $2.8M | $316K | 3.5% |
| 811111 | General Automotive Repair | 7 | $2.0M | $291K | 2.7% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 6 | $2.6M | $441K | 2.3% |
| 721191 | Bed-and-Breakfast Inns | 5 | $3.3M | $652K | 1.9% |
| 541110 | Offices of Lawyers | 5 | $1.9M | $384K | 1.9% |
| 713930 | Marinas | 4 | $2.1M | $528K | 1.6% |
| 541940 | Veterinary Services | 4 | $1.6M | $405K | 1.6% |
| 713950 | Bowling Centers | 3 | $1.5M | $487K | 1.2% |
Geographic Distribution
SBA lending activity for Innovations Financial Credit Union by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Florida (FL) | 257 | $113.9M | 100.0% |
Why Choose Innovations Financial Credit Union?
Based on SBA 7(a) lending track record from 1991-2014
- ✓Proven Track Record: 257 SBA loans approved, totaling $113.9M in financing
- ✓Industry Expertise: Specialized focus on Child Care Services, Hotels (except Casino Hotels) and Motels, Offices of Dentists
- ✓Competitive Terms: Average interest rate of 6.00% with flexible term lengths averaging 259 months
- ✓Loan Range: Loan sizes from $25K to $2.0M, with an average of $443K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in FL
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 Innovations Financial Credit Union SBA lending
What types of businesses does Innovations Financial Credit Union typically finance?
Innovations Financial Credit Union specializes in SBA 7(a) lending to specific industries including child care services, hotels (except casino hotels) and motels, offices of dentists, general automotive repair. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Innovations Financial Credit Union's typical SBA loan terms?
Innovations Financial Credit Union's SBA 7(a) loans typically feature an average interest rate of 6.00% and average term length of 259 months (approximately 22 years). Loan sizes range from $25K to $2.0M, with an average loan size of $443K.
Do I need a business valuation for a Innovations Financial Credit Union SBA loan?
Yes, Innovations Financial 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 Innovations Financial Credit Union compare to other SBA lenders?
Innovations Financial Credit Union has originated 257 SBA loans totaling $113.9M since 1991. 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 Innovations Financial Credit Union lend in?
Innovations Financial Credit Union provides SBA 7(a) financing with particularly strong presence in FL. 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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