True Community CU
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by True Community CU
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722515 | Snack and Nonalcoholic Beverage Bars | 16 | $5.4M | $335K | 50.0% |
| 722513 | Limited-Service Restaurants | 8 | $928K | $116K | 25.0% |
| 812220 | Cemeteries and Crematories | 8 | $4.9M | $613K | 25.0% |
Geographic Distribution
SBA lending activity for True Community CU by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Michigan (MI) | 32 | $11.2M | 100.0% |
Why Choose True Community CU?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 32 SBA loans approved, totaling $11.2M in financing
- ✓Industry Expertise: Specialized focus on Snack and Nonalcoholic Beverage Bars, Limited-Service Restaurants, Cemeteries and Crematories
- ✓Competitive Terms: Average interest rate of 8.44% with flexible term lengths averaging 195 months
- ✓Loan Range: Loan sizes from $116K to $613K, with an average of $350K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MI
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 True Community CU SBA lending
What types of businesses does True Community CU typically finance?
True Community CU specializes in SBA 7(a) lending to specific industries including snack and nonalcoholic beverage bars, limited-service restaurants, cemeteries and crematories. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are True Community CU's typical SBA loan terms?
True Community CU's SBA 7(a) loans typically feature an average interest rate of 8.44% and average term length of 195 months (approximately 16 years). Loan sizes range from $116K to $613K, with an average loan size of $350K.
Do I need a business valuation for a True Community CU SBA loan?
Yes, True Community 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 True Community CU compare to other SBA lenders?
True Community CU has originated 32 SBA loans totaling $11.2M since 2020. 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 True Community CU lend in?
True Community CU provides SBA 7(a) financing with particularly strong presence in MI. 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?
Professional valuations are often required for SBA loans over $250,000.
Get your certified valuation from Fair Market Value.