Lake Region Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Lake Region Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 812990 | All Other Personal Services | 9 | $513K | $57K | 6.4% |
| 238110 | Poured Concrete Foundation and Structure Contractors | 5 | $1.8M | $359K | 3.5% |
| 484110 | General Freight Trucking, Local | 5 | $117K | $23K | 3.5% |
| 811111 | General Automotive Repair | 4 | $701K | $175K | 2.8% |
| 484121 | General Freight Trucking, Long-Distance, Truckload | 4 | $487K | $122K | 2.8% |
| 812320 | Drycleaning and Laundry Services (except Coin-Operated) | 4 | $374K | $94K | 2.8% |
| 423930 | Recyclable Material Merchant Wholesalers | 4 | $757K | $189K | 2.8% |
| 332999 | All Other Miscellaneous Fabricated Metal Product Manufacturing | 4 | $607K | $152K | 2.8% |
| 237310 | Highway, Street, and Bridge Construction | 3 | $192K | $64K | 2.1% |
| 531120 | Lessors of Nonresidential Buildings (except Miniwarehouses) | 3 | $632K | $211K | 2.1% |
Geographic Distribution
SBA lending activity for Lake Region Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 141 | $21.7M | 100.0% |
Why Choose Lake Region Bank?
Based on SBA 7(a) lending track record from 1999-2023
- ✓Proven Track Record: 141 SBA loans approved, totaling $21.7M in financing
- ✓Industry Expertise: Specialized focus on All Other Personal Services, Poured Concrete Foundation and Structure Contractors, General Freight Trucking, Local
- ✓Competitive Terms: Average interest rate of 6.02% with flexible term lengths averaging 96 months
- ✓Loan Range: Loan sizes from $5K to $1.6M, with an average of $154K
- ✓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 Lake Region Bank SBA lending
What types of businesses does Lake Region Bank typically finance?
Lake Region Bank specializes in SBA 7(a) lending to specific industries including all other personal services, poured concrete foundation and structure contractors, general freight trucking, local, general automotive repair. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Lake Region Bank's typical SBA loan terms?
Lake Region Bank's SBA 7(a) loans typically feature an average interest rate of 6.02% and average term length of 96 months (approximately 8 years). Loan sizes range from $5K to $1.6M, with an average loan size of $154K.
Do I need a business valuation for a Lake Region Bank SBA loan?
Yes, Lake Region 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 Lake Region Bank compare to other SBA lenders?
Lake Region Bank has originated 141 SBA loans totaling $21.7M since 1999. 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 Lake Region Bank lend in?
Lake Region 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?
Certified valuations are often required for SBA loans over $250,000.
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