Union Settlement FCU
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Union Settlement FCU · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 3 | $175K | $58K | 16.7% |
| 424490 | Other Grocery and Related Products Merchant Wholesalers | 1 | $25K | $25K | 5.6% |
| 621210 | Offices of Dentists | 1 | $40K | $40K | 5.6% |
| 541921 | Photography Studios, Portrait | 1 | $50K | $50K | 5.6% |
| 236118 | Residential Remodelers | 1 | $100K | $100K | 5.6% |
| 561499 | All Other Business Support Services | 1 | $35K | $35K | 5.6% |
| 611620 | Sports and Recreation Instruction | 1 | $25K | $25K | 5.6% |
| 423990 | Other Miscellaneous Durable Goods Merchant Wholesalers | 1 | $50K | $50K | 5.6% |
| 424480 | Fresh Fruit and Vegetable Merchant Wholesalers | 1 | $45K | $45K | 5.6% |
| 611710 | Educational Support Services | 1 | $25K | $25K | 5.6% |
Geographic Distribution
SBA lending activity for Union Settlement FCU by state
| State | Loans | Volume | Share |
|---|---|---|---|
| New York (NY) | 17 | $760K | 94.4% |
| New Jersey (NJ) | 1 | $25K | 5.6% |
Why Choose Union Settlement FCU?
Based on SBA 7(a) lending track record from 2011-2013
- ✓Proven Track Record: 18 SBA loans approved, totaling $785K in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Other Grocery and Related Products Merchant Wholesalers, Offices of Dentists
- ✓Competitive Terms: Average interest rate of 8.28% with flexible term lengths averaging 53 months
- ✓Loan Range: Loan sizes from $20K to $100K, with an average of $44K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in NY, 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 Settlement FCU SBA lending
What types of businesses does Union Settlement FCU typically finance?
Union Settlement FCU specializes in SBA 7(a) lending to specific industries including full-service restaurants, other grocery and related products merchant wholesalers, offices of dentists, photography studios, portrait. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Union Settlement FCU's typical SBA loan terms?
Union Settlement FCU's SBA 7(a) loans typically feature an average interest rate of 8.28% and average term length of 53 months (approximately 4 years). Loan sizes range from $20K to $100K, with an average loan size of $44K.
Do I need a business valuation for a Union Settlement FCU SBA loan?
Yes, Union Settlement 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 Union Settlement FCU compare to other SBA lenders?
Union Settlement FCU has originated 18 SBA loans totaling $785K since 2011. 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 Settlement FCU lend in?
Union Settlement FCU provides SBA 7(a) financing with particularly strong presence in NY, 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?
Certified valuations are often required for SBA loans over $250,000.
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