ProFed Federal Credit Union
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by ProFed Federal Credit Union · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 812112 | Beauty Salons | 1 | $20K | $20K | 100.0% |
Geographic Distribution
SBA lending activity for ProFed Federal Credit Union by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Indiana (IN) | 1 | $20K | 100.0% |
Why Choose ProFed Federal Credit Union?
Based on SBA 7(a) lending track record from 2011-2011
- ✓Proven Track Record: 1 SBA loans approved, totaling $20K in financing
- ✓Industry Expertise: Specialized focus on Beauty Salons
- ✓Competitive Terms: Average interest rate of 7.75% with flexible term lengths averaging 60 months
- ✓Loan Range: Loan sizes from $20K to $20K, with an average of $20K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in IN
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 ProFed Federal Credit Union SBA lending
What types of businesses does ProFed Federal Credit Union typically finance?
ProFed Federal Credit Union specializes in SBA 7(a) lending to specific industries including beauty salons. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are ProFed Federal Credit Union's typical SBA loan terms?
ProFed Federal Credit Union's SBA 7(a) loans typically feature an average interest rate of 7.75% and average term length of 60 months (approximately 5 years). Loan sizes range from $20K to $20K, with an average loan size of $20K.
Do I need a business valuation for a ProFed Federal Credit Union SBA loan?
Yes, ProFed 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 ProFed Federal Credit Union compare to other SBA lenders?
ProFed Federal Credit Union has originated 1 SBA loans totaling $20K since 2011. 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 ProFed Federal Credit Union lend in?
ProFed Federal Credit Union provides SBA 7(a) financing with particularly strong presence in IN. 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.