Whatcom Educational CU
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by Whatcom Educational CU
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 336611 | Ship Building and Repairing | 16 | $760K | $48K | 15.4% |
| 562991 | Septic Tank and Related Services | 8 | $1.8M | $230K | 7.7% |
| 332323 | Ornamental and Architectural Metal Work Manufacturing | 8 | $6.0M | $750K | 7.7% |
| 722513 | Limited-Service Restaurants | 8 | $1.0M | $125K | 7.7% |
| 332813 | Electroplating, Plating, Polishing, Anodizing, and Coloring | 8 | $528K | $66K | 7.7% |
| 812112 | Beauty Salons | 8 | $773K | $97K | 7.7% |
| 812910 | Pet Care (except Veterinary) Services | 8 | $1.6M | $204K | 7.7% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 8 | $4.4M | $555K | 7.7% |
| 561720 | Janitorial Services | 8 | $320K | $40K | 7.7% |
| 424720 | Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Sta | 8 | $1.8M | $221K | 7.7% |
Geographic Distribution
SBA lending activity for Whatcom Educational CU by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Washington (WA) | 104 | $21.0M | 100.0% |
Why Choose Whatcom Educational CU?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 104 SBA loans approved, totaling $21.0M in financing
- ✓Industry Expertise: Specialized focus on Ship Building and Repairing, Septic Tank and Related Services, Ornamental and Architectural Metal Work Manufacturing
- ✓Competitive Terms: Average interest rate of 6.99% with flexible term lengths averaging 85 months
- ✓Loan Range: Loan sizes from $25K to $750K, with an average of $202K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in WA
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 Whatcom Educational CU SBA lending
What types of businesses does Whatcom Educational CU typically finance?
Whatcom Educational CU specializes in SBA 7(a) lending to specific industries including ship building and repairing, septic tank and related services, ornamental and architectural metal work manufacturing, limited-service restaurants. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Whatcom Educational CU's typical SBA loan terms?
Whatcom Educational CU's SBA 7(a) loans typically feature an average interest rate of 6.99% and average term length of 85 months (approximately 7 years). Loan sizes range from $25K to $750K, with an average loan size of $202K.
Do I need a business valuation for a Whatcom Educational CU SBA loan?
Yes, Whatcom Educational 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 Whatcom Educational CU compare to other SBA lenders?
Whatcom Educational CU has originated 104 SBA loans totaling $21.0M 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 Whatcom Educational CU lend in?
Whatcom Educational CU provides SBA 7(a) financing with particularly strong presence in WA. 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.
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