BankStar Financial
SBA 7(a) Lending Profile · FY 2021 analysis
Industry Focus
Top industries served by BankStar Financial
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 8 | $648K | $81K | 33.3% |
| 812112 | Beauty Salons | 8 | $2.1M | $258K | 33.3% |
| 115112 | Soil Preparation, Planting, and Cultivating | 8 | $4.3M | $540K | 33.3% |
Geographic Distribution
SBA lending activity for BankStar Financial by state
| State | Loans | Volume | Share |
|---|---|---|---|
| South Dakota (SD) | 16 | $6.4M | 66.7% |
| Minnesota (MN) | 8 | $648K | 33.3% |
Why Choose BankStar Financial?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 24 SBA loans approved, totaling $7.0M in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Beauty Salons, Soil Preparation, Planting, and Cultivating
- ✓Competitive Terms: Average interest rate of 6.00% with flexible term lengths averaging 129 months
- ✓Loan Range: Loan sizes from $81K to $540K, with an average of $293K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in SD, 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 BankStar Financial SBA lending
What types of businesses does BankStar Financial typically finance?
BankStar Financial specializes in SBA 7(a) lending to specific industries including full-service restaurants, beauty salons, soil preparation, planting, and cultivating. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are BankStar Financial's typical SBA loan terms?
BankStar Financial's SBA 7(a) loans typically feature an average interest rate of 6.00% and average term length of 129 months (approximately 11 years). Loan sizes range from $81K to $540K, with an average loan size of $293K.
Do I need a business valuation for a BankStar Financial SBA loan?
Yes, BankStar Financial 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 BankStar Financial compare to other SBA lenders?
BankStar Financial has originated 24 SBA loans totaling $7.0M 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 BankStar Financial lend in?
BankStar Financial provides SBA 7(a) financing with particularly strong presence in SD, 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.