West Central Development Corporation
SBA 7(a) Lending Profile · FY 2020 analysis
Industry Focus
Top industries served by West Central Development Corporation
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722515 | Snack and Nonalcoholic Beverage Bars | 16 | $1.4M | $90K | 8.0% |
| 722513 | Limited-Service Restaurants | 16 | $3.0M | $188K | 8.0% |
| 621310 | Offices of Chiropractors | 16 | $960K | $60K | 8.0% |
| 621399 | Offices of All Other Miscellaneous Health Practitioners | 16 | $800K | $50K | 8.0% |
| 812990 | All Other Personal Services | 16 | $1.2M | $78K | 8.0% |
| 722511 | Full-Service Restaurants | 16 | $3.7M | $229K | 8.0% |
| 624190 | Other Individual and Family Services | 8 | $544K | $68K | 4.0% |
| 423920 | Toy and Hobby Goods and Supplies Merchant Wholesalers | 8 | $680K | $85K | 4.0% |
| 541690 | Other Scientific and Technical Consulting Services | 8 | $400K | $50K | 4.0% |
| 238110 | Poured Concrete Foundation and Structure Contractors | 8 | $1.2M | $150K | 4.0% |
Geographic Distribution
SBA lending activity for West Central Development Corporation by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Ohio (OH) | 128 | $16.2M | 64.0% |
| Florida (FL) | 32 | $3.8M | 16.0% |
| Michigan (MI) | 32 | $3.2M | 16.0% |
| Indiana (IN) | 8 | $2.0M | 4.0% |
Why Choose West Central Development Corporation?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 200 SBA loans approved, totaling $25.2M in financing
- ✓Industry Expertise: Specialized focus on Snack and Nonalcoholic Beverage Bars, Limited-Service Restaurants, Offices of Chiropractors
- ✓Competitive Terms: Average interest rate of 6.77% with flexible term lengths averaging 89 months
- ✓Loan Range: Loan sizes from $16K to $350K, with an average of $126K
- ✓Nationwide Reach: Active lending in 4 states, with strong presence in OH, FL, MI
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 West Central Development Corporation SBA lending
What types of businesses does West Central Development Corporation typically finance?
West Central Development Corporation specializes in SBA 7(a) lending to specific industries including snack and nonalcoholic beverage bars, limited-service restaurants, offices of chiropractors, 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 West Central Development Corporation's typical SBA loan terms?
West Central Development Corporation's SBA 7(a) loans typically feature an average interest rate of 6.77% and average term length of 89 months (approximately 7 years). Loan sizes range from $16K to $350K, with an average loan size of $126K.
Do I need a business valuation for a West Central Development Corporation SBA loan?
Yes, West Central Development Corporation 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 West Central Development Corporation compare to other SBA lenders?
West Central Development Corporation has originated 200 SBA loans totaling $25.2M 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 West Central Development Corporation lend in?
West Central Development Corporation provides SBA 7(a) financing with particularly strong presence in OH, FL, MI, IN. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
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