Melrose CU
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Melrose CU · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 485310 | Taxi and Ridesharing Services | 40 | $5.1M | $126K | 76.9% |
| 541519 | Other Computer Related Services | 1 | $175K | $175K | 1.9% |
| 531390 | Other Activities Related to Real Estate | 1 | $75K | $75K | 1.9% |
| 611430 | Professional and Management Development Training | 1 | $150K | $150K | 1.9% |
| 611710 | Educational Support Services | 1 | $100K | $100K | 1.9% |
Geographic Distribution
SBA lending activity for Melrose CU by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New York (NY) | 50 | $6.8M | 96.2% |
| New Jersey (NJ) | 2 | $234K | 3.8% |
Why Choose Melrose CU?
Based on SBA 7(a) lending track record from 1992-2015
- ✓Proven Track Record: 52 SBA loans approved, totaling $7.0M in financing
- ✓Industry Expertise: Specialized focus on Taxi and Ridesharing Services, Other Computer Related Services, Other Activities Related to Real Estate
- ✓Competitive Terms: Average interest rate of 5.67% with flexible term lengths averaging 111 months
- ✓Loan Range: Loan sizes from $30K to $485K, with an average of $135K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in NY, NJ
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 Melrose CU SBA lending
What types of businesses does Melrose CU typically finance?
Melrose CU specializes in SBA 7(a) lending to specific industries including taxi and ridesharing services, other computer related services, other activities related to real estate, professional and management development training. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Melrose CU's typical SBA loan terms?
Melrose CU's SBA 7(a) loans typically feature an average interest rate of 5.67% and average term length of 111 months (approximately 9 years). Loan sizes range from $30K to $485K, with an average loan size of $135K.
Do I need a business valuation for a Melrose CU SBA loan?
Yes, Melrose 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 Melrose CU compare to other SBA lenders?
Melrose CU has originated 52 SBA loans totaling $7.0M since 1992. 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 Melrose CU lend in?
Melrose CU provides SBA 7(a) financing with particularly strong presence in NY, NJ. 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.
Get your certified valuation from Fair Market Value.