Alerus Financial, National Association
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Alerus Financial, National Association · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 721110 | Hotels (except Casino Hotels) and Motels | 22 | $50.6M | $2.3M | 2.3% |
| 623312 | Assisted Living Facilities for the Elderly | 21 | $20.8M | $989K | 2.2% |
| 812112 | Beauty Salons | 19 | $5.0M | $262K | 2.0% |
| 621310 | Offices of Chiropractors | 19 | $2.2M | $114K | 2.0% |
| 524210 | Insurance Agencies and Brokerages | 17 | $13.8M | $812K | 1.8% |
| 624410 | Child Care Services | 16 | $3.5M | $217K | 1.7% |
| 811192 | Car Washes | 16 | $16.9M | $1.1M | 1.7% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 15 | $8.2M | $549K | 1.6% |
| 722513 | Limited-Service Restaurants | 14 | $9.4M | $671K | 1.5% |
| 561730 | Landscaping Services | 13 | $2.6M | $197K | 1.4% |
Geographic Distribution
SBA lending activity for Alerus Financial, National Association by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Arizona (AZ) | 259 | $236.1M | 27.5% |
| Minnesota (MN) | 371 | $185.3M | 39.3% |
| North Dakota (ND) | 255 | $73.5M | 27.0% |
| Wisconsin (WI) | 27 | $21.2M | 2.9% |
| California (CA) | 3 | $7.6M | 0.3% |
| Utah (UT) | 6 | $6.5M | 0.6% |
| Florida (FL) | 3 | $5.5M | 0.3% |
| Iowa (IA) | 9 | $4.5M | 1.0% |
| Montana (MT) | 1 | $2.0M | 0.1% |
| Rhode Island (RI) | 1 | $1.3M | 0.1% |
| Colorado (CO) | 2 | $1.3M | 0.2% |
| South Dakota (SD) | 1 | $1.1M | 0.1% |
| Nevada (NV) | 2 | $713K | 0.2% |
| Illinois (IL) | 1 | $525K | 0.1% |
| Tennessee (TN) | 1 | $325K | 0.1% |
| Nebraska (NE) | 1 | $81K | 0.1% |
Why Choose Alerus Financial, National Association?
Based on SBA 7(a) lending track record from 1991-2025
- ✓Proven Track Record: 943 SBA loans approved, totaling $547.7M in financing
- ✓Industry Expertise: Specialized focus on Hotels (except Casino Hotels) and Motels, Assisted Living Facilities for the Elderly, Beauty Salons
- ✓Competitive Terms: Average interest rate of 6.20% with flexible term lengths averaging 132 months
- ✓Loan Range: Loan sizes from $8K to $5.0M, with an average of $581K
- ✓Nationwide Reach: Active lending in 16 states, with strong presence in MN, AZ, ND
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 Alerus Financial, National Association SBA lending
What types of businesses does Alerus Financial, National Association typically finance?
Alerus Financial, National Association specializes in SBA 7(a) lending to specific industries including hotels (except casino hotels) and motels, assisted living facilities for the elderly, beauty salons, offices of chiropractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Alerus Financial, National Association's typical SBA loan terms?
Alerus Financial, National Association's SBA 7(a) loans typically feature an average interest rate of 6.20% and average term length of 132 months (approximately 11 years). Loan sizes range from $8K to $5.0M, with an average loan size of $581K.
Do I need a business valuation for a Alerus Financial, National Association SBA loan?
Yes, Alerus Financial, National Association 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 Alerus Financial, National Association compare to other SBA lenders?
Alerus Financial, National Association has originated 943 SBA loans totaling $547.7M since 1991. 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 Alerus Financial, National Association lend in?
Alerus Financial, National Association provides SBA 7(a) financing with particularly strong presence in MN, AZ, ND, WI, IA. 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?
Certified valuations are often required for SBA loans over $250,000.
Get your certified valuation from Fair Market Value.