Skyla Federal Credit Union
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Skyla Federal Credit Union · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 561720 | Janitorial Services | 1 | $94K | $94K | 33.3% |
| 611699 | All Other Miscellaneous Schools and Instruction | 1 | $172K | $172K | 33.3% |
Geographic Distribution
SBA lending activity for Skyla Federal Credit Union by state
| State | Loans | Volume | Share |
|---|---|---|---|
| North Carolina (NC) | 3 | $316K | 100.0% |
Why Choose Skyla Federal Credit Union?
Based on SBA 7(a) lending track record from 2010-2010
- ✓Proven Track Record: 3 SBA loans approved, totaling $316K in financing
- ✓Industry Expertise: Specialized focus on Janitorial Services, All Other Miscellaneous Schools and Instruction
- ✓Competitive Terms: Average interest rate of 6.17% with flexible term lengths averaging 104 months
- ✓Loan Range: Loan sizes from $50K to $172K, with an average of $105K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in NC
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 Skyla Federal Credit Union SBA lending
What types of businesses does Skyla Federal Credit Union typically finance?
Skyla Federal Credit Union specializes in SBA 7(a) lending to specific industries including janitorial services, all other miscellaneous schools and instruction. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Skyla Federal Credit Union's typical SBA loan terms?
Skyla Federal Credit Union's SBA 7(a) loans typically feature an average interest rate of 6.17% and average term length of 104 months (approximately 9 years). Loan sizes range from $50K to $172K, with an average loan size of $105K.
Do I need a business valuation for a Skyla Federal Credit Union SBA loan?
Yes, Skyla 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 Skyla Federal Credit Union compare to other SBA lenders?
Skyla Federal Credit Union has originated 3 SBA loans totaling $316K since 2010. 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 Skyla Federal Credit Union lend in?
Skyla Federal Credit Union provides SBA 7(a) financing with particularly strong presence in NC. 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.