SouthPoint Financial CU
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by SouthPoint Financial CU · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 238210 | Electrical Contractors and Other Wiring Installation Contractors | 1 | $125K | $125K | 50.0% |
Geographic Distribution
SBA lending activity for SouthPoint Financial CU by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 2 | $274K | 100.0% |
Why Choose SouthPoint Financial CU?
Based on SBA 7(a) lending track record from 2017-2017
- ✓Proven Track Record: 2 SBA loans approved, totaling $274K in financing
- ✓Industry Expertise: Specialized focus on Electrical Contractors and Other Wiring Installation Contractors
- ✓Competitive Terms: Average interest rate of 5.63% with flexible term lengths averaging 18 months
- ✓Loan Range: Loan sizes from $125K to $149K, with an average of $137K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MN
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 SouthPoint Financial CU SBA lending
What types of businesses does SouthPoint Financial CU typically finance?
SouthPoint Financial CU specializes in SBA 7(a) lending to specific industries including electrical contractors and other wiring installation contractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are SouthPoint Financial CU's typical SBA loan terms?
SouthPoint Financial CU's SBA 7(a) loans typically feature an average interest rate of 5.63% and average term length of 18 months (approximately 2 years). Loan sizes range from $125K to $149K, with an average loan size of $137K.
Do I need a business valuation for a SouthPoint Financial CU SBA loan?
Yes, SouthPoint Financial 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 SouthPoint Financial CU compare to other SBA lenders?
SouthPoint Financial CU has originated 2 SBA loans totaling $274K since 2017. 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 SouthPoint Financial CU lend in?
SouthPoint Financial CU provides SBA 7(a) financing with particularly strong presence in MN. 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.