Bank Forward
SBA 7(a) Lending Profile · FY 2020 analysis
Industry Focus
Top industries served by Bank Forward
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 236118 | Residential Remodelers | 24 | $1.7M | $72K | 10.0% |
| 561730 | Landscaping Services | 16 | $1.1M | $70K | 6.7% |
| 238990 | All Other Specialty Trade Contractors | 16 | $8.1M | $508K | 6.7% |
| 236115 | New Single-Family Housing Construction (except Operative Builders) | 16 | $1.6M | $100K | 6.7% |
| 722511 | Full-Service Restaurants | 16 | $2.6M | $162K | 6.7% |
| 238140 | Masonry Contractors | 16 | $3.6M | $225K | 6.7% |
| 334513 | Instruments and Related Products Manufacturing for Measuring, Displayi | 16 | $20.0M | $1.3M | 6.7% |
| 444230 | Other | 8 | $2.4M | $300K | 3.3% |
| 311920 | Coffee and Tea Manufacturing | 8 | $400K | $50K | 3.3% |
| 445230 | Fruit and Vegetable Markets | 8 | $800K | $100K | 3.3% |
Geographic Distribution
SBA lending activity for Bank Forward by state
| State | Loans | Volume | Share |
|---|---|---|---|
| North Dakota (ND) | 168 | $48.7M | 70.0% |
| Minnesota (MN) | 72 | $11.5M | 30.0% |
Why Choose Bank Forward?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 240 SBA loans approved, totaling $60.2M in financing
- ✓Industry Expertise: Specialized focus on Residential Remodelers, Landscaping Services, All Other Specialty Trade Contractors
- ✓Competitive Terms: Average interest rate of 5.26% with flexible term lengths averaging 44 months
- ✓Loan Range: Loan sizes from $10K to $1.5M, with an average of $251K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in ND, MN
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 Bank Forward SBA lending
What types of businesses does Bank Forward typically finance?
Bank Forward specializes in SBA 7(a) lending to specific industries including residential remodelers, landscaping services, all other specialty trade contractors, new single-family housing construction (except operative builders). They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Bank Forward's typical SBA loan terms?
Bank Forward's SBA 7(a) loans typically feature an average interest rate of 5.26% and average term length of 44 months (approximately 4 years). Loan sizes range from $10K to $1.5M, with an average loan size of $251K.
Do I need a business valuation for a Bank Forward SBA loan?
Yes, Bank Forward 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 Bank Forward compare to other SBA lenders?
Bank Forward has originated 240 SBA loans totaling $60.2M 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 Bank Forward lend in?
Bank Forward provides SBA 7(a) financing with particularly strong presence in ND, MN. 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.