Verve, a Credit Union
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by Verve, a Credit Union
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 812310 | Coin-Operated Laundries and Drycleaners | 16 | $14.0M | $874K | 12.5% |
| 531110 | Lessors of Residential Buildingsv and Dwellings | 8 | $200K | $25K | 6.3% |
| 485991 | Special Needs Transportation | 8 | $1.4M | $170K | 6.3% |
| 423810 | Construction and Mining (except Oil Well) Machinery and Equipment Merc | 8 | $1.2M | $150K | 6.3% |
| 485310 | Taxi Service | 8 | $600K | $75K | 6.3% |
| 238320 | Painting and Wall Covering Contractors | 8 | $2.7M | $340K | 6.3% |
| 621310 | Offices of Chiropractors | 8 | $2.0M | $245K | 6.3% |
| 621399 | Offices of All Other Miscellaneous Health Practitioners | 8 | $992K | $124K | 6.3% |
| 441120 | Used Car Dealers | 8 | $1.3M | $168K | 6.3% |
| 238910 | Site Preparation Contractors | 8 | $6.8M | $855K | 6.3% |
Geographic Distribution
SBA lending activity for Verve, a Credit Union by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Wisconsin (WI) | 104 | $23.0M | 81.3% |
| Illinois (IL) | 16 | $8.8M | 12.5% |
| Indiana (IN) | 8 | $7.2M | 6.3% |
Why Choose Verve, a Credit Union?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 128 SBA loans approved, totaling $39.0M in financing
- ✓Industry Expertise: Specialized focus on Coin-Operated Laundries and Drycleaners, Lessors of Residential Buildingsv and Dwellings, Special Needs Transportation
- ✓Competitive Terms: Average interest rate of 4.48% with flexible term lengths averaging 184 months
- ✓Loan Range: Loan sizes from $25K to $901K, with an average of $305K
- ✓Nationwide Reach: Active lending in 3 states, with strong presence in WI, IL, IN
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 Verve, a Credit Union SBA lending
What types of businesses does Verve, a Credit Union typically finance?
Verve, a Credit Union specializes in SBA 7(a) lending to specific industries including coin-operated laundries and drycleaners, lessors of residential buildingsv and dwellings, special needs transportation, construction and mining (except oil well) machinery and equipment merc. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Verve, a Credit Union's typical SBA loan terms?
Verve, a Credit Union's SBA 7(a) loans typically feature an average interest rate of 4.48% and average term length of 184 months (approximately 15 years). Loan sizes range from $25K to $901K, with an average loan size of $305K.
Do I need a business valuation for a Verve, a Credit Union SBA loan?
Yes, Verve, a Credit Union 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 Verve, a Credit Union compare to other SBA lenders?
Verve, a Credit Union has originated 128 SBA loans totaling $39.0M since 2020. 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 Verve, a Credit Union lend in?
Verve, a Credit Union provides SBA 7(a) financing with particularly strong presence in WI, IL, IN. 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?
Professional valuations are often required for SBA loans over $250,000.
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