The Economic Development Bank for the United States Virgin Islands
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by The Economic Development Bank for the United States Virgin Islands · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 485310 | Taxi and Ridesharing Services | 1 | $50K | $50K | 10.0% |
Geographic Distribution
SBA lending activity for The Economic Development Bank for the United States Virgin Islands by state
| State | Loans | Volume | Share |
|---|---|---|---|
| VI (VI) | 9 | $401K | 90.0% |
| Wisconsin (WI) | 1 | $50K | 10.0% |
Why Choose The Economic Development Bank for the United States Virgin Islands?
Based on SBA 7(a) lending track record from 2001-2005
- ✓Proven Track Record: 10 SBA loans approved, totaling $451K in financing
- ✓Industry Expertise: Specialized focus on Taxi and Ridesharing Services
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 74 months
- ✓Loan Range: Loan sizes from $24K to $50K, with an average of $45K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in VI, WI
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 The Economic Development Bank for the United States Virgin Islands SBA lending
What types of businesses does The Economic Development Bank for the United States Virgin Islands typically finance?
The Economic Development Bank for the United States Virgin Islands specializes in SBA 7(a) lending to specific industries including taxi and ridesharing services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are The Economic Development Bank for the United States Virgin Islands's typical SBA loan terms?
The Economic Development Bank for the United States Virgin Islands's SBA 7(a) loans typically feature an average interest rate of — and average term length of 74 months (approximately 6 years). Loan sizes range from $24K to $50K, with an average loan size of $45K.
Do I need a business valuation for a The Economic Development Bank for the United States Virgin Islands SBA loan?
Yes, The Economic Development Bank for the United States Virgin Islands 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 The Economic Development Bank for the United States Virgin Islands compare to other SBA lenders?
The Economic Development Bank for the United States Virgin Islands has originated 10 SBA loans totaling $451K since 2001. 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 The Economic Development Bank for the United States Virgin Islands lend in?
The Economic Development Bank for the United States Virgin Islands provides SBA 7(a) financing with particularly strong presence in VI, WI. 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.
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Certified valuations are often required for SBA loans over $250,000.
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