Westerly Community CU
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Westerly Community CU
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 459510 | Other | 8 | $2.0M | $250K | 33.3% |
| 621399 | Offices of All Other Miscellaneous Health Practitioners | 8 | $326K | $41K | 33.3% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 8 | $5.2M | $652K | 33.3% |
Geographic Distribution
SBA lending activity for Westerly Community CU by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Rhode Island (RI) | 24 | $7.5M | 100.0% |
Why Choose Westerly Community CU?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 24 SBA loans approved, totaling $7.5M in financing
- ✓Industry Expertise: Specialized focus on Other, Offices of All Other Miscellaneous Health Practitioners, Plumbing, Heating, and Air-Conditioning Contractors
- ✓Competitive Terms: Average interest rate of 7.83% with flexible term lengths averaging 100 months
- ✓Loan Range: Loan sizes from $41K to $652K, with an average of $314K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in RI
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 Westerly Community CU SBA lending
What types of businesses does Westerly Community CU typically finance?
Westerly Community CU specializes in SBA 7(a) lending to specific industries including other, offices of all other miscellaneous health practitioners, plumbing, heating, and air-conditioning contractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Westerly Community CU's typical SBA loan terms?
Westerly Community CU's SBA 7(a) loans typically feature an average interest rate of 7.83% and average term length of 100 months (approximately 8 years). Loan sizes range from $41K to $652K, with an average loan size of $314K.
Do I need a business valuation for a Westerly Community CU SBA loan?
Yes, Westerly Community 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 Westerly Community CU compare to other SBA lenders?
Westerly Community CU has originated 24 SBA loans totaling $7.5M 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 Westerly Community CU lend in?
Westerly Community CU provides SBA 7(a) financing with particularly strong presence in RI. 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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