Lake Region Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Lake Region Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 812320 | Drycleaning and Laundry Services (except Coin-Operated) | 24 | $2.7M | $113K | 15.0% |
| 237310 | Highway, Street, and Bridge Construction | 24 | $1.5M | $64K | 15.0% |
| 485410 | School and Employee Bus Transportation | 16 | $1.1M | $66K | 10.0% |
| 455219 | Other | 8 | $2.8M | $350K | 5.0% |
| 541219 | Other Accounting Services | 8 | $200K | $25K | 5.0% |
| 541922 | Commercial Photography | 8 | $84K | $11K | 5.0% |
| 532310 | General Rental Centers | 8 | $1.4M | $176K | 5.0% |
| 561730 | Landscaping Services | 8 | $1.3M | $162K | 5.0% |
| 484220 | Specialized Freight (except Used Goods) Trucking, Local | 8 | $1.5M | $186K | 5.0% |
| 722515 | Snack and Nonalcoholic Beverage Bars | 8 | $92K | $12K | 5.0% |
Geographic Distribution
SBA lending activity for Lake Region Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 160 | $14.9M | 100.0% |
Why Choose Lake Region Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 160 SBA loans approved, totaling $14.9M in financing
- ✓Industry Expertise: Specialized focus on Drycleaning and Laundry Services (except Coin-Operated), Highway, Street, and Bridge Construction, School and Employee Bus Transportation
- ✓Competitive Terms: Average interest rate of 5.45% with flexible term lengths averaging 82 months
- ✓Loan Range: Loan sizes from $5K to $350K, with an average of $93K
- ✓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 drycleaning and laundry services (except coin-operated), highway, street, and bridge construction, school and employee bus transportation, other. 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 5.45% and average term length of 82 months (approximately 7 years). Loan sizes range from $5K to $350K, with an average loan size of $93K.
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 160 SBA loans totaling $14.9M 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 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.
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Professional valuations are often required for SBA loans over $250,000.
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