Harvest Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Harvest Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 484110 | General Freight Trucking, Local | 2 | $530K | $265K | 4.2% |
| 541350 | Building Inspection Services | 1 | $65K | $65K | 2.1% |
| 332999 | All Other Miscellaneous Fabricated Metal Product Manufacturing | 1 | $770K | $770K | 2.1% |
| 722410 | Drinking Places (Alcoholic Beverages) | 1 | $83K | $83K | 2.1% |
| 813910 | Business Associations | 1 | $50K | $50K | 2.1% |
| 812310 | Coin-Operated Laundries and Drycleaners | 1 | $150K | $150K | 2.1% |
| 561740 | Carpet and Upholstery Cleaning Services | 1 | $32K | $32K | 2.1% |
| 325998 | All Other Miscellaneous Chemical Product and Preparation Manufacturing | 1 | $275K | $275K | 2.1% |
| 812112 | Beauty Salons | 1 | $100K | $100K | 2.1% |
| 561730 | Landscaping Services | 1 | $350K | $350K | 2.1% |
Geographic Distribution
SBA lending activity for Harvest Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 48 | $10.8M | 100.0% |
Why Choose Harvest Bank?
Based on SBA 7(a) lending track record from 1994-2021
- ✓Proven Track Record: 48 SBA loans approved, totaling $10.8M in financing
- ✓Industry Expertise: Specialized focus on General Freight Trucking, Local, Building Inspection Services, All Other Miscellaneous Fabricated Metal Product Manufacturing
- ✓Competitive Terms: Average interest rate of 5.58% with flexible term lengths averaging 108 months
- ✓Loan Range: Loan sizes from $20K to $2.1M, with an average of $225K
- ✓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 Harvest Bank SBA lending
What types of businesses does Harvest Bank typically finance?
Harvest Bank specializes in SBA 7(a) lending to specific industries including general freight trucking, local, building inspection services, all other miscellaneous fabricated metal product manufacturing, drinking places (alcoholic beverages). They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Harvest Bank's typical SBA loan terms?
Harvest Bank's SBA 7(a) loans typically feature an average interest rate of 5.58% and average term length of 108 months (approximately 9 years). Loan sizes range from $20K to $2.1M, with an average loan size of $225K.
Do I need a business valuation for a Harvest Bank SBA loan?
Yes, Harvest 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 Harvest Bank compare to other SBA lenders?
Harvest Bank has originated 48 SBA loans totaling $10.8M since 1994. 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 Harvest Bank lend in?
Harvest 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.
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