Tongass FCU
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Tongass FCU · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 238350 | Finish Carpentry Contractors | 1 | $255K | $255K | 33.3% |
Geographic Distribution
SBA lending activity for Tongass FCU by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Alaska (AK) | 3 | $397K | 100.0% |
Why Choose Tongass FCU?
Based on SBA 7(a) lending track record from 2012-2014
- ✓Proven Track Record: 3 SBA loans approved, totaling $397K in financing
- ✓Industry Expertise: Specialized focus on Finish Carpentry Contractors
- ✓Competitive Terms: Average interest rate of 5.33% with flexible term lengths averaging 140 months
- ✓Loan Range: Loan sizes from $30K to $255K, with an average of $132K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in AK
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 Tongass FCU SBA lending
What types of businesses does Tongass FCU typically finance?
Tongass FCU specializes in SBA 7(a) lending to specific industries including finish carpentry contractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Tongass FCU's typical SBA loan terms?
Tongass FCU's SBA 7(a) loans typically feature an average interest rate of 5.33% and average term length of 140 months (approximately 12 years). Loan sizes range from $30K to $255K, with an average loan size of $132K.
Do I need a business valuation for a Tongass FCU SBA loan?
Yes, Tongass FCU 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 Tongass FCU compare to other SBA lenders?
Tongass FCU has originated 3 SBA loans totaling $397K since 2012. 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 Tongass FCU lend in?
Tongass FCU provides SBA 7(a) financing with particularly strong presence in AK. 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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