Inova Federal Credit Union
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Inova Federal Credit Union
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 713940 | Fitness and Recreational Sports Centers | 8 | $13.9M | $1.7M | 12.5% |
| 722513 | Limited-Service Restaurants | 8 | $1.2M | $150K | 12.5% |
| 238160 | Roofing Contractors | 8 | $4.0M | $500K | 12.5% |
| 812990 | All Other Personal Services | 8 | $576K | $72K | 12.5% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 8 | $560K | $70K | 12.5% |
| 611610 | Fine Arts Schools | 8 | $4.0M | $498K | 12.5% |
| 541511 | Custom Computer Programming Services | 8 | $800K | $100K | 12.5% |
| 621512 | Diagnostic Imaging Centers | 8 | $18.0M | $2.3M | 12.5% |
Geographic Distribution
SBA lending activity for Inova Federal Credit Union by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Indiana (IN) | 64 | $43.0M | 100.0% |
Why Choose Inova Federal Credit Union?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 64 SBA loans approved, totaling $43.0M in financing
- ✓Industry Expertise: Specialized focus on Fitness and Recreational Sports Centers, Limited-Service Restaurants, Roofing Contractors
- ✓Competitive Terms: Average interest rate of 7.47% with flexible term lengths averaging 181 months
- ✓Loan Range: Loan sizes from $70K to $2.3M, with an average of $672K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in IN
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 Inova Federal Credit Union SBA lending
What types of businesses does Inova Federal Credit Union typically finance?
Inova Federal Credit Union specializes in SBA 7(a) lending to specific industries including fitness and recreational sports centers, limited-service restaurants, roofing contractors, all other personal services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Inova Federal Credit Union's typical SBA loan terms?
Inova Federal Credit Union's SBA 7(a) loans typically feature an average interest rate of 7.47% and average term length of 181 months (approximately 15 years). Loan sizes range from $70K to $2.3M, with an average loan size of $672K.
Do I need a business valuation for a Inova Federal Credit Union SBA loan?
Yes, Inova Federal 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 Inova Federal Credit Union compare to other SBA lenders?
Inova Federal Credit Union has originated 64 SBA loans totaling $43.0M 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 Inova Federal Credit Union lend in?
Inova Federal Credit Union provides SBA 7(a) financing with particularly strong presence in IN. 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.
Get your certified valuation from Fair Market Value.