Minority Investment Development Corp.
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Minority Investment Development Corp. · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 812112 | Beauty Salons | 1 | $75K | $75K | 20.0% |
| 484110 | General Freight Trucking, Local | 1 | $210K | $210K | 20.0% |
Geographic Distribution
SBA lending activity for Minority Investment Development Corp. by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Rhode Island (RI) | 5 | $448K | 100.0% |
Why Choose Minority Investment Development Corp.?
Based on SBA 7(a) lending track record from 1998-2006
- ✓Proven Track Record: 5 SBA loans approved, totaling $448K in financing
- ✓Industry Expertise: Specialized focus on Beauty Salons, General Freight Trucking, Local
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 95 months
- ✓Loan Range: Loan sizes from $28K to $210K, with an average of $90K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in RI
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 Minority Investment Development Corp. SBA lending
What types of businesses does Minority Investment Development Corp. typically finance?
Minority Investment Development Corp. specializes in SBA 7(a) lending to specific industries including beauty salons, general freight trucking, local. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Minority Investment Development Corp.'s typical SBA loan terms?
Minority Investment Development Corp.'s SBA 7(a) loans typically feature an average interest rate of — and average term length of 95 months (approximately 8 years). Loan sizes range from $28K to $210K, with an average loan size of $90K.
Do I need a business valuation for a Minority Investment Development Corp. SBA loan?
Yes, Minority Investment Development Corp. 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 Minority Investment Development Corp. compare to other SBA lenders?
Minority Investment Development Corp. has originated 5 SBA loans totaling $448K since 1998. 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 Minority Investment Development Corp. lend in?
Minority Investment Development Corp. provides SBA 7(a) financing with particularly strong presence in RI. 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.
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