North Jersey FCU
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by North Jersey FCU · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 713940 | Fitness and Recreational Sports Centers | 1 | $72K | $72K | 100.0% |
Geographic Distribution
SBA lending activity for North Jersey FCU by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Pennsylvania (PA) | 1 | $72K | 100.0% |
Why Choose North Jersey FCU?
Based on SBA 7(a) lending track record from 2017-2017
- ✓Proven Track Record: 1 SBA loans approved, totaling $72K in financing
- ✓Industry Expertise: Specialized focus on Fitness and Recreational Sports Centers
- ✓Competitive Terms: Average interest rate of 6.25% with flexible term lengths averaging 96 months
- ✓Loan Range: Loan sizes from $72K to $72K, with an average of $72K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in PA
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 North Jersey FCU SBA lending
What types of businesses does North Jersey FCU typically finance?
North Jersey FCU specializes in SBA 7(a) lending to specific industries including fitness and recreational sports centers. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are North Jersey FCU's typical SBA loan terms?
North Jersey FCU's SBA 7(a) loans typically feature an average interest rate of 6.25% and average term length of 96 months (approximately 8 years). Loan sizes range from $72K to $72K, with an average loan size of $72K.
Do I need a business valuation for a North Jersey FCU SBA loan?
Yes, North Jersey FCU 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 North Jersey FCU compare to other SBA lenders?
North Jersey FCU has originated 1 SBA loans totaling $72K since 2017. 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 North Jersey FCU lend in?
North Jersey FCU provides SBA 7(a) financing with particularly strong presence in PA. 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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