Drake Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Drake Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 541330 | Engineering Services | 24 | $17.8M | $741K | 5.6% |
| 541513 | Computer Facilities Management Services | 16 | $8.9M | $554K | 3.7% |
| 722511 | Full-Service Restaurants | 16 | $6.3M | $397K | 3.7% |
| 561730 | Landscaping Services | 16 | $7.8M | $485K | 3.7% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 16 | $12.0M | $750K | 3.7% |
| 541511 | Custom Computer Programming Services | 16 | $2.4M | $150K | 3.7% |
| 423850 | Service Establishment Equipment and Supplies Merchant Wholesalers | 16 | $4.0M | $250K | 3.7% |
| 812199 | Other Personal Care Services | 16 | $1.7M | $105K | 3.7% |
| 722513 | Limited-Service Restaurants | 16 | $4.8M | $298K | 3.7% |
| 812990 | All Other Personal Services | 16 | $8.9M | $555K | 3.7% |
Geographic Distribution
SBA lending activity for Drake Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 432 | $263.4M | 100.0% |
Why Choose Drake Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 432 SBA loans approved, totaling $263.4M in financing
- ✓Industry Expertise: Specialized focus on Engineering Services, Computer Facilities Management Services, Full-Service Restaurants
- ✓Competitive Terms: Average interest rate of 9.30% with flexible term lengths averaging 120 months
- ✓Loan Range: Loan sizes from $31K to $4.0M, with an average of $610K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in 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 Drake Bank SBA lending
What types of businesses does Drake Bank typically finance?
Drake Bank specializes in SBA 7(a) lending to specific industries including engineering services, computer facilities management services, full-service restaurants, landscaping services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Drake Bank's typical SBA loan terms?
Drake Bank's SBA 7(a) loans typically feature an average interest rate of 9.30% and average term length of 120 months (approximately 10 years). Loan sizes range from $31K to $4.0M, with an average loan size of $610K.
Do I need a business valuation for a Drake Bank SBA loan?
Yes, Drake 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 Drake Bank compare to other SBA lenders?
Drake Bank has originated 432 SBA loans totaling $263.4M 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 Drake Bank lend in?
Drake Bank provides SBA 7(a) financing with particularly strong presence in 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.
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