21st Century Bank
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by 21st Century Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 621310 | Offices of Chiropractors | 104 | $21.2M | $204K | 5.8% |
| 621610 | Home Health Care Services | 64 | $56.5M | $883K | 3.6% |
| 621210 | Offices of Dentists | 64 | $17.0M | $266K | 3.6% |
| 722511 | Full-Service Restaurants | 48 | $24.8M | $517K | 2.7% |
| 531120 | Lessors of Nonresidential Buildings (except Miniwarehouses) | 48 | $19.1M | $399K | 2.7% |
| 561730 | Landscaping Services | 40 | $18.1M | $454K | 2.2% |
| 238990 | All Other Specialty Trade Contractors | 40 | $18.9M | $473K | 2.2% |
| 524210 | Insurance Agencies and Brokerages | 32 | $3.4M | $106K | 1.8% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 32 | $17.2M | $536K | 1.8% |
| 812112 | Beauty Salons | 32 | $7.3M | $228K | 1.8% |
Geographic Distribution
SBA lending activity for 21st Century Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 1,736 | $722.8M | 96.9% |
| Wisconsin (WI) | 24 | $24.0M | 1.3% |
| Iowa (IA) | 16 | $7.3M | 0.9% |
| Georgia (GA) | 8 | $3.6M | 0.4% |
| Florida (FL) | 8 | $3.3M | 0.4% |
Why Choose 21st Century Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 1,792 SBA loans approved, totaling $761.0M in financing
- ✓Industry Expertise: Specialized focus on Offices of Chiropractors, Home Health Care Services, Offices of Dentists
- ✓Competitive Terms: Average interest rate of 6.32% with flexible term lengths averaging 151 months
- ✓Loan Range: Loan sizes from $25K to $3.0M, with an average of $425K
- ✓Nationwide Reach: Active lending in 5 states, with strong presence in MN, WI, IA
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 21st Century Bank SBA lending
What types of businesses does 21st Century Bank typically finance?
21st Century Bank specializes in SBA 7(a) lending to specific industries including offices of chiropractors, home health care services, offices of dentists, full-service restaurants. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are 21st Century Bank's typical SBA loan terms?
21st Century Bank's SBA 7(a) loans typically feature an average interest rate of 6.32% and average term length of 151 months (approximately 13 years). Loan sizes range from $25K to $3.0M, with an average loan size of $425K.
Do I need a business valuation for a 21st Century Bank SBA loan?
Yes, 21st Century Bank 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 21st Century Bank compare to other SBA lenders?
21st Century Bank has originated 1,792 SBA loans totaling $761.0M 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 21st Century Bank lend in?
21st Century Bank provides SBA 7(a) financing with particularly strong presence in MN, WI, IA, FL, GA. 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.
Get your certified valuation from Fair Market Value.