Verus Bank of Commerce
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Verus Bank of Commerce · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 541511 | Custom Computer Programming Services | 9 | $10.7M | $1.2M | 10.0% |
| 621310 | Offices of Chiropractors | 4 | $891K | $223K | 4.4% |
| 424710 | Petroleum Bulk Stations and Terminals | 4 | $787K | $197K | 4.4% |
| 621399 | Offices of All Other Miscellaneous Health Practitioners | 2 | $240K | $120K | 2.2% |
| 713120 | Amusement Arcades | 2 | $65K | $33K | 2.2% |
| 484210 | Used Household and Office Goods Moving | 2 | $292K | $146K | 2.2% |
| 423610 | Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers | 2 | $400K | $200K | 2.2% |
| 541690 | Other Scientific and Technical Consulting Services | 2 | $405K | $203K | 2.2% |
| 531390 | Other Activities Related to Real Estate | 2 | $250K | $125K | 2.2% |
| 812990 | All Other Personal Services | 2 | $100K | $50K | 2.2% |
Geographic Distribution
SBA lending activity for Verus Bank of Commerce by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Colorado (CO) | 89 | $34.3M | 98.9% |
| Wyoming (WY) | 1 | $440K | 1.1% |
Why Choose Verus Bank of Commerce?
Based on SBA 7(a) lending track record from 2006-2017
- ✓Proven Track Record: 90 SBA loans approved, totaling $34.7M in financing
- ✓Industry Expertise: Specialized focus on Custom Computer Programming Services, Offices of Chiropractors, Petroleum Bulk Stations and Terminals
- ✓Competitive Terms: Average interest rate of 6.00% with flexible term lengths averaging 117 months
- ✓Loan Range: Loan sizes from $25K to $3.0M, with an average of $386K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in CO, WY
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 Verus Bank of Commerce SBA lending
What types of businesses does Verus Bank of Commerce typically finance?
Verus Bank of Commerce specializes in SBA 7(a) lending to specific industries including custom computer programming services, offices of chiropractors, petroleum bulk stations and terminals, offices of all other miscellaneous health practitioners. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Verus Bank of Commerce's typical SBA loan terms?
Verus Bank of Commerce's SBA 7(a) loans typically feature an average interest rate of 6.00% and average term length of 117 months (approximately 10 years). Loan sizes range from $25K to $3.0M, with an average loan size of $386K.
Do I need a business valuation for a Verus Bank of Commerce SBA loan?
Yes, Verus Bank of Commerce 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 Verus Bank of Commerce compare to other SBA lenders?
Verus Bank of Commerce has originated 90 SBA loans totaling $34.7M since 2006. 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 Verus Bank of Commerce lend in?
Verus Bank of Commerce provides SBA 7(a) financing with particularly strong presence in CO, WY. 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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