Velocity CU
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Velocity CU · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 812112 | Beauty Salons | 2 | $119K | $59K | 28.6% |
| 621310 | Offices of Chiropractors | 2 | $155K | $78K | 28.6% |
| 311520 | Ice Cream and Frozen Dessert Manufacturing | 1 | $150K | $150K | 14.3% |
| 621340 | Offices of Physical, Occupational and Speech Therapists, and Audiologists | 1 | $230K | $230K | 14.3% |
Geographic Distribution
SBA lending activity for Velocity CU by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Texas (TX) | 7 | $718K | 100.0% |
Why Choose Velocity CU?
Based on SBA 7(a) lending track record from 2009-2015
- ✓Proven Track Record: 7 SBA loans approved, totaling $718K in financing
- ✓Industry Expertise: Specialized focus on Beauty Salons, Offices of Chiropractors, Ice Cream and Frozen Dessert Manufacturing
- ✓Competitive Terms: Average interest rate of 6.74% with flexible term lengths averaging 87 months
- ✓Loan Range: Loan sizes from $56K to $230K, with an average of $103K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in TX
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 Velocity CU SBA lending
What types of businesses does Velocity CU typically finance?
Velocity CU specializes in SBA 7(a) lending to specific industries including beauty salons, offices of chiropractors, ice cream and frozen dessert manufacturing, offices of physical, occupational and speech therapists, and audiologists. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Velocity CU's typical SBA loan terms?
Velocity CU's SBA 7(a) loans typically feature an average interest rate of 6.74% and average term length of 87 months (approximately 7 years). Loan sizes range from $56K to $230K, with an average loan size of $103K.
Do I need a business valuation for a Velocity CU SBA loan?
Yes, Velocity 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 Velocity CU compare to other SBA lenders?
Velocity CU has originated 7 SBA loans totaling $718K since 2009. 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 Velocity CU lend in?
Velocity CU provides SBA 7(a) financing with particularly strong presence in TX. 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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