Utah First FCU
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Utah First FCU · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 721110 | Hotels (except Casino Hotels) and Motels | 5 | $12.6M | $2.5M | 7.1% |
| 541110 | Offices of Lawyers | 3 | $135K | $45K | 4.3% |
| 238350 | Finish Carpentry Contractors | 3 | $100K | $33K | 4.3% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 3 | $322K | $107K | 4.3% |
| 524210 | Insurance Agencies and Brokerages | 2 | $298K | $149K | 2.9% |
| 561730 | Landscaping Services | 2 | $157K | $78K | 2.9% |
| 531120 | Lessors of Nonresidential Buildings (except Miniwarehouses) | 2 | $842K | $421K | 2.9% |
| 484121 | General Freight Trucking, Long-Distance, Truckload | 2 | $290K | $145K | 2.9% |
| 722511 | Full-Service Restaurants | 2 | $860K | $430K | 2.9% |
| 541613 | Marketing Consulting Services | 2 | $70K | $35K | 2.9% |
Geographic Distribution
SBA lending activity for Utah First FCU by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Utah (UT) | 68 | $21.0M | 97.1% |
| Idaho (ID) | 1 | $2.6M | 1.4% |
| Montana (MT) | 1 | $560K | 1.4% |
Why Choose Utah First FCU?
Based on SBA 7(a) lending track record from 2008-2022
- ✓Proven Track Record: 70 SBA loans approved, totaling $24.2M in financing
- ✓Industry Expertise: Specialized focus on Hotels (except Casino Hotels) and Motels, Offices of Lawyers, Finish Carpentry Contractors
- ✓Competitive Terms: Average interest rate of 6.70% with flexible term lengths averaging 127 months
- ✓Loan Range: Loan sizes from $15K to $4.1M, with an average of $345K
- ✓Nationwide Reach: Active lending in 3 states, with strong presence in UT, MT, ID
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 Utah First FCU SBA lending
What types of businesses does Utah First FCU typically finance?
Utah First FCU specializes in SBA 7(a) lending to specific industries including hotels (except casino hotels) and motels, offices of lawyers, finish carpentry contractors, plumbing, heating, and air-conditioning contractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Utah First FCU's typical SBA loan terms?
Utah First FCU's SBA 7(a) loans typically feature an average interest rate of 6.70% and average term length of 127 months (approximately 11 years). Loan sizes range from $15K to $4.1M, with an average loan size of $345K.
Do I need a business valuation for a Utah First FCU SBA loan?
Yes, Utah First 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 Utah First FCU compare to other SBA lenders?
Utah First FCU has originated 70 SBA loans totaling $24.2M since 2008. 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 Utah First FCU lend in?
Utah First FCU provides SBA 7(a) financing with particularly strong presence in UT, MT, ID. 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.
Get your certified valuation from Fair Market Value.