Veridian CU
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Veridian CU · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 3 | $730K | $243K | 14.3% |
| 713940 | Fitness and Recreational Sports Centers | 3 | $588K | $196K | 14.3% |
| 722513 | Limited-Service Restaurants | 2 | $280K | $140K | 9.5% |
| 423510 | Metal Service Centers and Other Metal Merchant Wholesalers | 1 | $1.2M | $1.2M | 4.8% |
| 541940 | Veterinary Services | 1 | $414K | $414K | 4.8% |
| 523999 | Miscellaneous Financial Investment Activities | 1 | $245K | $245K | 4.8% |
| 541810 | Advertising Agencies | 1 | $135K | $135K | 4.8% |
| 621310 | Offices of Chiropractors | 1 | $55K | $55K | 4.8% |
| 236115 | New Single-Family Housing Construction (except For-Sale Builders) | 1 | $45K | $45K | 4.8% |
| 311812 | Commercial Bakeries | 1 | $40K | $40K | 4.8% |
Geographic Distribution
SBA lending activity for Veridian CU by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Iowa (IA) | 21 | $4.6M | 100.0% |
Why Choose Veridian CU?
Based on SBA 7(a) lending track record from 2004-2020
- ✓Proven Track Record: 21 SBA loans approved, totaling $4.6M in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Fitness and Recreational Sports Centers, Limited-Service Restaurants
- ✓Competitive Terms: Average interest rate of 5.32% with flexible term lengths averaging 102 months
- ✓Loan Range: Loan sizes from $40K to $1.2M, with an average of $217K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in IA
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 Veridian CU SBA lending
What types of businesses does Veridian CU typically finance?
Veridian CU specializes in SBA 7(a) lending to specific industries including full-service restaurants, fitness and recreational sports centers, limited-service restaurants, metal service centers and other metal merchant wholesalers. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Veridian CU's typical SBA loan terms?
Veridian CU's SBA 7(a) loans typically feature an average interest rate of 5.32% and average term length of 102 months (approximately 9 years). Loan sizes range from $40K to $1.2M, with an average loan size of $217K.
Do I need a business valuation for a Veridian CU SBA loan?
Yes, Veridian 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 Veridian CU compare to other SBA lenders?
Veridian CU has originated 21 SBA loans totaling $4.6M since 2004. 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 Veridian CU lend in?
Veridian CU provides SBA 7(a) financing with particularly strong presence in IA. 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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