Scott Credit Union
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Scott Credit Union · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 531210 | Offices of Real Estate Agents and Brokers | 5 | $375K | $75K | 5.4% |
| 812910 | Pet Care (except Veterinary) Services | 4 | $668K | $167K | 4.3% |
| 812112 | Beauty Salons | 4 | $969K | $242K | 4.3% |
| 484110 | General Freight Trucking, Local | 3 | $178K | $59K | 3.3% |
| 713940 | Fitness and Recreational Sports Centers | 3 | $191K | $64K | 3.3% |
| 541110 | Offices of Lawyers | 3 | $589K | $196K | 3.3% |
| 484230 | Specialized Freight (except Used Goods) Trucking, Long-Distance | 3 | $996K | $332K | 3.3% |
| 722511 | Full-Service Restaurants | 3 | $920K | $307K | 3.3% |
| 332111 | Iron and Steel Forging | 2 | $1.3M | $648K | 2.2% |
| 713950 | Bowling Centers | 2 | $222K | $111K | 2.2% |
Geographic Distribution
SBA lending activity for Scott Credit Union by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Illinois (IL) | 63 | $10.0M | 68.5% |
| Missouri (MO) | 26 | $7.7M | 28.3% |
| Indiana (IN) | 1 | $417K | 1.1% |
| New York (NY) | 1 | $200K | 1.1% |
| California (CA) | 1 | $73K | 1.1% |
Why Choose Scott Credit Union?
Based on SBA 7(a) lending track record from 2014-2022
- ✓Proven Track Record: 92 SBA loans approved, totaling $18.4M in financing
- ✓Industry Expertise: Specialized focus on Offices of Real Estate Agents and Brokers, Pet Care (except Veterinary) Services, Beauty Salons
- ✓Competitive Terms: Average interest rate of 7.03% with flexible term lengths averaging 125 months
- ✓Loan Range: Loan sizes from $10K to $1.4M, with an average of $200K
- ✓Nationwide Reach: Active lending in 5 states, with strong presence in IL, MO, CA
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 Scott Credit Union SBA lending
What types of businesses does Scott Credit Union typically finance?
Scott Credit Union specializes in SBA 7(a) lending to specific industries including offices of real estate agents and brokers, pet care (except veterinary) services, beauty salons, general freight trucking, local. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Scott Credit Union's typical SBA loan terms?
Scott Credit Union's SBA 7(a) loans typically feature an average interest rate of 7.03% and average term length of 125 months (approximately 10 years). Loan sizes range from $10K to $1.4M, with an average loan size of $200K.
Do I need a business valuation for a Scott Credit Union SBA loan?
Yes, Scott 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 Scott Credit Union compare to other SBA lenders?
Scott Credit Union has originated 92 SBA loans totaling $18.4M since 2014. 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 Scott Credit Union lend in?
Scott Credit Union provides SBA 7(a) financing with particularly strong presence in IL, MO, CA, NY, 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.