Union County Economic Development Corporation
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Union County Economic Development Corporation
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 424490 | Other Grocery and Related Products Merchant Wholesalers | 8 | $800K | $100K | 33.3% |
| 541211 | Offices of Certified Public Accountants | 8 | $2.0M | $250K | 33.3% |
| 484110 | General Freight Trucking, Local | 8 | $960K | $120K | 33.3% |
Geographic Distribution
SBA lending activity for Union County Economic Development Corporation by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New Jersey (NJ) | 24 | $3.8M | 100.0% |
Why Choose Union County Economic Development Corporation?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 24 SBA loans approved, totaling $3.8M in financing
- ✓Industry Expertise: Specialized focus on Other Grocery and Related Products Merchant Wholesalers, Offices of Certified Public Accountants, General Freight Trucking, Local
- ✓Competitive Terms: Average interest rate of 7.25% with flexible term lengths averaging 109 months
- ✓Loan Range: Loan sizes from $100K to $250K, with an average of $157K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in NJ
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 Union County Economic Development Corporation SBA lending
What types of businesses does Union County Economic Development Corporation typically finance?
Union County Economic Development Corporation specializes in SBA 7(a) lending to specific industries including other grocery and related products merchant wholesalers, offices of certified public accountants, general freight trucking, local. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Union County Economic Development Corporation's typical SBA loan terms?
Union County Economic Development Corporation's SBA 7(a) loans typically feature an average interest rate of 7.25% and average term length of 109 months (approximately 9 years). Loan sizes range from $100K to $250K, with an average loan size of $157K.
Do I need a business valuation for a Union County Economic Development Corporation SBA loan?
Yes, Union County Economic Development Corporation 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 Union County Economic Development Corporation compare to other SBA lenders?
Union County Economic Development Corporation has originated 24 SBA loans totaling $3.8M 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 Union County Economic Development Corporation lend in?
Union County Economic Development Corporation provides SBA 7(a) financing with particularly strong presence in NJ. 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.
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