Progressive CU
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Progressive CU · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 485310 | Taxi and Ridesharing Services | 4 | $341K | $85K | 22.2% |
| 334511 | Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing | 1 | $60K | $60K | 5.6% |
| 238150 | Glass and Glazing Contractors | 1 | $440K | $440K | 5.6% |
Geographic Distribution
SBA lending activity for Progressive CU by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New York (NY) | 18 | $1.8M | 100.0% |
Why Choose Progressive CU?
Based on SBA 7(a) lending track record from 1994-2004
- ✓Proven Track Record: 18 SBA loans approved, totaling $1.8M in financing
- ✓Industry Expertise: Specialized focus on Taxi and Ridesharing Services, Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing, Glass and Glazing Contractors
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 76 months
- ✓Loan Range: Loan sizes from $10K to $440K, with an average of $100K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in NY
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 Progressive CU SBA lending
What types of businesses does Progressive CU typically finance?
Progressive CU specializes in SBA 7(a) lending to specific industries including taxi and ridesharing services, search, detection, navigation, guidance, aeronautical, and nautical system and instrument manufacturing, glass and glazing contractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Progressive CU's typical SBA loan terms?
Progressive CU's SBA 7(a) loans typically feature an average interest rate of — and average term length of 76 months (approximately 6 years). Loan sizes range from $10K to $440K, with an average loan size of $100K.
Do I need a business valuation for a Progressive CU SBA loan?
Yes, Progressive CU 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 Progressive CU compare to other SBA lenders?
Progressive CU has originated 18 SBA loans totaling $1.8M since 1994. 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 Progressive CU lend in?
Progressive CU provides SBA 7(a) financing with particularly strong presence in NY. 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.
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