Magnifi Financial CU
SBA 7(a) Lending Profile · FY 2021 analysis
Industry Focus
Top industries served by Magnifi Financial CU
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 713940 | Fitness and Recreational Sports Centers | 168 | $67.0M | $399K | 6.0% |
| 722513 | Limited-Service Restaurants | 152 | $50.5M | $333K | 5.4% |
| 561720 | Janitorial Services | 96 | $19.3M | $201K | 3.4% |
| 621610 | Home Health Care Services | 88 | $15.3M | $173K | 3.2% |
| 722515 | Snack and Nonalcoholic Beverage Bars | 80 | $30.6M | $382K | 2.9% |
| 236118 | Residential Remodelers | 80 | $16.6M | $208K | 2.9% |
| 238320 | Painting and Wall Covering Contractors | 72 | $12.8M | $177K | 2.6% |
| 722511 | Full-Service Restaurants | 72 | $17.4M | $241K | 2.6% |
| 812199 | Other Personal Care Services | 72 | $27.8M | $386K | 2.6% |
| 484110 | General Freight Trucking, Local | 72 | $9.7M | $135K | 2.6% |
Geographic Distribution
SBA lending activity for Magnifi Financial CU by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 1,064 | $308.9M | 38.1% |
| Texas (TX) | 344 | $83.4M | 12.3% |
| Florida (FL) | 232 | $61.9M | 8.3% |
| Georgia (GA) | 112 | $28.9M | 4.0% |
| North Carolina (NC) | 64 | $22.9M | 2.3% |
| Ohio (OH) | 48 | $20.0M | 1.7% |
| California (CA) | 72 | $18.8M | 2.6% |
| Virginia (VA) | 56 | $16.5M | 2.0% |
| Pennsylvania (PA) | 56 | $15.6M | 2.0% |
| Tennessee (TN) | 48 | $14.5M | 1.7% |
| Michigan (MI) | 40 | $12.9M | 1.4% |
| South Carolina (SC) | 40 | $12.6M | 1.4% |
| New York (NY) | 56 | $12.0M | 2.0% |
| Colorado (CO) | 32 | $11.7M | 1.1% |
| Nevada (NV) | 32 | $11.1M | 1.1% |
| New Jersey (NJ) | 40 | $9.9M | 1.4% |
| Connecticut (CT) | 24 | $9.5M | 0.9% |
| Wisconsin (WI) | 32 | $9.4M | 1.1% |
| Illinois (IL) | 40 | $9.0M | 1.4% |
| Arizona (AZ) | 40 | $7.3M | 1.4% |
| Indiana (IN) | 48 | $7.2M | 1.7% |
| Nebraska (NE) | 24 | $7.1M | 0.9% |
| Oregon (OR) | 24 | $6.3M | 0.9% |
| North Dakota (ND) | 8 | $5.2M | 0.3% |
| Utah (UT) | 24 | $5.1M | 0.9% |
| Kansas (KS) | 16 | $5.0M | 0.6% |
| Maryland (MD) | 24 | $4.9M | 0.9% |
| Washington (WA) | 16 | $4.2M | 0.6% |
| Idaho (ID) | 8 | $3.3M | 0.3% |
| Alabama (AL) | 16 | $3.3M | 0.6% |
| Arkansas (AR) | 16 | $3.1M | 0.6% |
| Kentucky (KY) | 16 | $3.0M | 0.6% |
| Massachusetts (MA) | 16 | $2.8M | 0.6% |
| Missouri (MO) | 16 | $2.7M | 0.6% |
| Montana (MT) | 8 | $2.3M | 0.3% |
| Louisiana (LA) | 8 | $2.1M | 0.3% |
| Vermont (VT) | 8 | $1.7M | 0.3% |
| Rhode Island (RI) | 8 | $1.3M | 0.3% |
| Alaska (AK) | 8 | $800K | 0.3% |
| District of Columbia (DC) | 8 | $784K | 0.3% |
Why Choose Magnifi Financial CU?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 2,792 SBA loans approved, totaling $768.9M in financing
- ✓Industry Expertise: Specialized focus on Fitness and Recreational Sports Centers, Limited-Service Restaurants, Janitorial Services
- ✓Competitive Terms: Average interest rate of 8.85% with flexible term lengths averaging 125 months
- ✓Loan Range: Loan sizes from $14K to $1.6M, with an average of $275K
- ✓Nationwide Reach: Active lending in 40 states, with strong presence in MN, TX, 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 Magnifi Financial CU SBA lending
What types of businesses does Magnifi Financial CU typically finance?
Magnifi Financial CU specializes in SBA 7(a) lending to specific industries including fitness and recreational sports centers, limited-service restaurants, janitorial services, home health care services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Magnifi Financial CU's typical SBA loan terms?
Magnifi Financial CU's SBA 7(a) loans typically feature an average interest rate of 8.85% and average term length of 125 months (approximately 10 years). Loan sizes range from $14K to $1.6M, with an average loan size of $275K.
Do I need a business valuation for a Magnifi Financial CU SBA loan?
Yes, Magnifi Financial 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 Magnifi Financial CU compare to other SBA lenders?
Magnifi Financial CU has originated 2,792 SBA loans totaling $768.9M 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 Magnifi Financial CU lend in?
Magnifi Financial CU provides SBA 7(a) financing with particularly strong presence in MN, TX, FL, GA, CA. 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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Professional valuations are often required for SBA loans over $250,000.
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