Choice Financial Group
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Choice Financial Group
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 713940 | Fitness and Recreational Sports Centers | 128 | $38.0M | $297K | 6.8% |
| 722511 | Full-Service Restaurants | 88 | $42.5M | $483K | 4.7% |
| 722513 | Limited-Service Restaurants | 80 | $51.6M | $645K | 4.3% |
| 238990 | All Other Specialty Trade Contractors | 64 | $97.0M | $1.5M | 3.4% |
| 323113 | Commercial Screen Printing | 56 | $46.5M | $830K | 3.0% |
| 562111 | Solid Waste Collection | 48 | $29.0M | $605K | 2.6% |
| 812112 | Beauty Salons | 48 | $8.1M | $170K | 2.6% |
| 484110 | General Freight Trucking, Local | 40 | $33.6M | $841K | 2.1% |
| 423990 | Other Miscellaneous Durable Goods Merchant Wholesalers | 40 | $16.4M | $410K | 2.1% |
| 312120 | Breweries | 32 | $26.4M | $825K | 1.7% |
Geographic Distribution
SBA lending activity for Choice Financial Group by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 1,520 | $868.0M | 80.9% |
| North Dakota (ND) | 280 | $104.9M | 14.9% |
| Arizona (AZ) | 32 | $37.6M | 1.7% |
| South Dakota (SD) | 16 | $9.2M | 0.9% |
| Wisconsin (WI) | 24 | $6.2M | 1.3% |
| Colorado (CO) | 8 | $1.6M | 0.4% |
Why Choose Choice Financial Group?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 1,880 SBA loans approved, totaling $1.03B in financing
- ✓Industry Expertise: Specialized focus on Fitness and Recreational Sports Centers, Full-Service Restaurants, Limited-Service Restaurants
- ✓Competitive Terms: Average interest rate of 7.66% with flexible term lengths averaging 111 months
- ✓Loan Range: Loan sizes from $20K to $5.0M, with an average of $547K
- ✓Nationwide Reach: Active lending in 6 states, with strong presence in MN, ND, AZ
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 Choice Financial Group SBA lending
What types of businesses does Choice Financial Group typically finance?
Choice Financial Group specializes in SBA 7(a) lending to specific industries including fitness and recreational sports centers, full-service restaurants, limited-service restaurants, all other specialty trade contractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Choice Financial Group's typical SBA loan terms?
Choice Financial Group's SBA 7(a) loans typically feature an average interest rate of 7.66% and average term length of 111 months (approximately 9 years). Loan sizes range from $20K to $5.0M, with an average loan size of $547K.
Do I need a business valuation for a Choice Financial Group SBA loan?
Yes, Choice Financial Group 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 Choice Financial Group compare to other SBA lenders?
Choice Financial Group has originated 1,880 SBA loans totaling $1.03B 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 Choice Financial Group lend in?
Choice Financial Group provides SBA 7(a) financing with particularly strong presence in MN, ND, AZ, WI, 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.
Get your certified valuation from Fair Market Value.