Heritage Bank Minnesota
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Heritage Bank Minnesota · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722410 | Drinking Places (Alcoholic Beverages) | 1 | $105K | $105K | 20.0% |
| 441110 | New Car Dealers | 1 | $404K | $404K | 20.0% |
Geographic Distribution
SBA lending activity for Heritage Bank Minnesota by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 5 | $1.1M | 100.0% |
Why Choose Heritage Bank Minnesota?
Based on SBA 7(a) lending track record from 1994-2005
- ✓Proven Track Record: 5 SBA loans approved, totaling $1.1M in financing
- ✓Industry Expertise: Specialized focus on Drinking Places (Alcoholic Beverages), New Car Dealers
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 172 months
- ✓Loan Range: Loan sizes from $50K to $500K, with an average of $223K
- ✓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 Heritage Bank Minnesota SBA lending
What types of businesses does Heritage Bank Minnesota typically finance?
Heritage Bank Minnesota specializes in SBA 7(a) lending to specific industries including drinking places (alcoholic beverages), new car dealers. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Heritage Bank Minnesota's typical SBA loan terms?
Heritage Bank Minnesota's SBA 7(a) loans typically feature an average interest rate of — and average term length of 172 months (approximately 14 years). Loan sizes range from $50K to $500K, with an average loan size of $223K.
Do I need a business valuation for a Heritage Bank Minnesota SBA loan?
Yes, Heritage Bank Minnesota 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 Heritage Bank Minnesota compare to other SBA lenders?
Heritage Bank Minnesota has originated 5 SBA loans totaling $1.1M 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 Heritage Bank Minnesota lend in?
Heritage Bank Minnesota 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?
Certified valuations are often required for SBA loans over $250,000.
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