Nutmeg State Financial Credit Union
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Nutmeg State Financial Credit Union
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 624410 | Child Day Care Services | 16 | $4.8M | $300K | 18.2% |
| 621112 | Offices of Physicians, Mental Health Specialists | 8 | $1.6M | $200K | 9.1% |
| 621610 | Home Health Care Services | 8 | $1.3M | $160K | 9.1% |
| 611710 | Educational Support Services | 8 | $2.8M | $350K | 9.1% |
| 812112 | Beauty Salons | 8 | $2.6M | $322K | 9.1% |
| 311811 | Retail Bakeries | 8 | $1.2M | $150K | 9.1% |
| 713120 | Amusement Arcades | 8 | $2.0M | $251K | 9.1% |
| 454110 | Electronic Shopping and Mail-Order Houses | 8 | $868K | $109K | 9.1% |
| 722511 | Full-Service Restaurants | 8 | $1.6M | $200K | 9.1% |
| 812191 | Diet and Weight Reducing Centers | 8 | $752K | $94K | 9.1% |
Geographic Distribution
SBA lending activity for Nutmeg State Financial Credit Union by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Connecticut (CT) | 88 | $19.5M | 100.0% |
Why Choose Nutmeg State Financial Credit Union?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 88 SBA loans approved, totaling $19.5M in financing
- ✓Industry Expertise: Specialized focus on Child Day Care Services, Offices of Physicians, Mental Health Specialists, Home Health Care Services
- ✓Competitive Terms: Average interest rate of 7.48% with flexible term lengths averaging 124 months
- ✓Loan Range: Loan sizes from $94K to $435K, with an average of $221K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in CT
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 Nutmeg State Financial Credit Union SBA lending
What types of businesses does Nutmeg State Financial Credit Union typically finance?
Nutmeg State Financial Credit Union specializes in SBA 7(a) lending to specific industries including child day care services, offices of physicians, mental health specialists, home health care services, educational support services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Nutmeg State Financial Credit Union's typical SBA loan terms?
Nutmeg State Financial Credit Union's SBA 7(a) loans typically feature an average interest rate of 7.48% and average term length of 124 months (approximately 10 years). Loan sizes range from $94K to $435K, with an average loan size of $221K.
Do I need a business valuation for a Nutmeg State Financial Credit Union SBA loan?
Yes, Nutmeg State Financial 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 Nutmeg State Financial Credit Union compare to other SBA lenders?
Nutmeg State Financial Credit Union has originated 88 SBA loans totaling $19.5M 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 Nutmeg State Financial Credit Union lend in?
Nutmeg State Financial Credit Union provides SBA 7(a) financing with particularly strong presence in CT. 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.
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