Platinum Federal Credit Union
SBA 7(a) Lending Profile · FY 2024 analysis
Industry Focus
Top industries served by Platinum Federal Credit Union
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 812199 | Other Personal Care Services | 16 | $8.1M | $509K | 33.3% |
| 722513 | Limited-Service Restaurants | 8 | $3.9M | $493K | 16.7% |
| 454210 | Vending Machine Operators | 8 | $6.5M | $816K | 16.7% |
| 445131 | Other | 8 | $2.0M | $250K | 16.7% |
| 541110 | Offices of Lawyers | 8 | $1.4M | $175K | 16.7% |
Geographic Distribution
SBA lending activity for Platinum Federal Credit Union by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Georgia (GA) | 32 | $18.6M | 66.7% |
| Florida (FL) | 16 | $3.4M | 33.3% |
Why Choose Platinum Federal Credit Union?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 48 SBA loans approved, totaling $22.0M in financing
- ✓Industry Expertise: Specialized focus on Other Personal Care Services, Limited-Service Restaurants, Vending Machine Operators
- ✓Competitive Terms: Average interest rate of 8.79% with flexible term lengths averaging 120 months
- ✓Loan Range: Loan sizes from $175K to $816K, with an average of $459K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in GA, 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 Platinum Federal Credit Union SBA lending
What types of businesses does Platinum Federal Credit Union typically finance?
Platinum Federal Credit Union specializes in SBA 7(a) lending to specific industries including other personal care services, limited-service restaurants, vending machine operators, other. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Platinum Federal Credit Union's typical SBA loan terms?
Platinum Federal Credit Union's SBA 7(a) loans typically feature an average interest rate of 8.79% and average term length of 120 months (approximately 10 years). Loan sizes range from $175K to $816K, with an average loan size of $459K.
Do I need a business valuation for a Platinum Federal Credit Union SBA loan?
Yes, Platinum Federal 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 Platinum Federal Credit Union compare to other SBA lenders?
Platinum Federal Credit Union has originated 48 SBA loans totaling $22.0M 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 Platinum Federal Credit Union lend in?
Platinum Federal Credit Union provides SBA 7(a) financing with particularly strong presence in GA, FL. 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.
Get your certified valuation from Fair Market Value.