Aspire Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Aspire Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 561730 | Landscaping Services | 40 | $40.5M | $1.0M | 7.4% |
| 488510 | Freight Transportation Arrangement | 40 | $12.0M | $299K | 7.4% |
| 531120 | Lessors of Nonresidential Buildings (except Miniwarehouses) | 24 | $14.3M | $597K | 4.4% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 24 | $9.8M | $410K | 4.4% |
| 238320 | Painting and Wall Covering Contractors | 24 | $1.4M | $58K | 4.4% |
| 611511 | Cosmetology and Barber Schools | 16 | $4.0M | $250K | 2.9% |
| 446120 | Cosmetics, Beauty Supplies, and Perfume Stores | 16 | $4.0M | $250K | 2.9% |
| 711310 | Promoters of Performing Arts, Sports, and Similar Events with Faciliti | 16 | $2.7M | $171K | 2.9% |
| 722511 | Full-Service Restaurants | 16 | $1.5M | $94K | 2.9% |
| 541810 | Advertising Agencies | 16 | $3.4M | $213K | 2.9% |
Geographic Distribution
SBA lending activity for Aspire Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| North Dakota (ND) | 448 | $117.0M | 82.4% |
| Minnesota (MN) | 80 | $21.6M | 14.7% |
| South Dakota (SD) | 16 | $4.0M | 2.9% |
Why Choose Aspire Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 544 SBA loans approved, totaling $142.6M in financing
- ✓Industry Expertise: Specialized focus on Landscaping Services, Freight Transportation Arrangement, Lessors of Nonresidential Buildings (except Miniwarehouses)
- ✓Competitive Terms: Average interest rate of 5.36% with flexible term lengths averaging 85 months
- ✓Loan Range: Loan sizes from $15K to $3.7M, with an average of $262K
- ✓Nationwide Reach: Active lending in 3 states, with strong presence in ND, MN, SD
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 Aspire Bank SBA lending
What types of businesses does Aspire Bank typically finance?
Aspire Bank specializes in SBA 7(a) lending to specific industries including landscaping services, freight transportation arrangement, lessors of nonresidential buildings (except miniwarehouses), automotive body, paint, and interior repair and maintenance. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Aspire Bank's typical SBA loan terms?
Aspire Bank's SBA 7(a) loans typically feature an average interest rate of 5.36% and average term length of 85 months (approximately 7 years). Loan sizes range from $15K to $3.7M, with an average loan size of $262K.
Do I need a business valuation for a Aspire Bank SBA loan?
Yes, Aspire 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 Aspire Bank compare to other SBA lenders?
Aspire Bank has originated 544 SBA loans totaling $142.6M 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 Aspire Bank lend in?
Aspire Bank provides SBA 7(a) financing with particularly strong presence in ND, MN, SD. 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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