Luminate Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Luminate Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722513 | Limited-Service Restaurants | 384 | $196.1M | $511K | 40.7% |
| 722515 | Snack and Nonalcoholic Beverage Bars | 224 | $251.7M | $1.1M | 23.7% |
| 812113 | Nail Salons | 88 | $33.2M | $377K | 9.3% |
| 812910 | Pet Care (except Veterinary) Services | 32 | $15.1M | $472K | 3.4% |
| 312120 | Breweries | 24 | $15.6M | $650K | 2.5% |
| 811191 | Automotive Oil Change and Lubrication Shops | 16 | $29.0M | $1.8M | 1.7% |
| 517311 | Other | 16 | $27.4M | $1.7M | 1.7% |
| 713940 | Fitness and Recreational Sports Centers | 16 | $1.9M | $119K | 1.7% |
| 541611 | Administrative Management and General Management Consulting Services | 16 | $30.5M | $1.9M | 1.7% |
| 722511 | Full-Service Restaurants | 16 | $6.7M | $417K | 1.7% |
Geographic Distribution
SBA lending activity for Luminate Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Texas (TX) | 136 | $126.6M | 14.4% |
| Minnesota (MN) | 184 | $117.5M | 19.5% |
| California (CA) | 120 | $112.8M | 12.7% |
| Colorado (CO) | 40 | $57.3M | 4.2% |
| Illinois (IL) | 24 | $27.8M | 2.5% |
| Oregon (OR) | 16 | $27.4M | 1.7% |
| Florida (FL) | 48 | $23.6M | 5.1% |
| Tennessee (TN) | 16 | $23.1M | 1.7% |
| South Carolina (SC) | 32 | $19.8M | 3.4% |
| Washington (WA) | 32 | $19.5M | 3.4% |
| New Jersey (NJ) | 16 | $16.1M | 1.7% |
| Missouri (MO) | 24 | $15.9M | 2.5% |
| North Carolina (NC) | 32 | $14.7M | 3.4% |
| Utah (UT) | 8 | $13.4M | 0.8% |
| Georgia (GA) | 40 | $13.3M | 4.2% |
| Oklahoma (OK) | 16 | $12.6M | 1.7% |
| Virginia (VA) | 24 | $12.2M | 2.5% |
| Iowa (IA) | 8 | $12.0M | 0.8% |
| Wyoming (WY) | 8 | $11.4M | 0.8% |
| Indiana (IN) | 8 | $9.3M | 0.8% |
| Ohio (OH) | 16 | $8.4M | 1.7% |
| Pennsylvania (PA) | 8 | $5.8M | 0.8% |
| Michigan (MI) | 8 | $4.7M | 0.8% |
| Idaho (ID) | 8 | $4.5M | 0.8% |
| Maryland (MD) | 8 | $4.3M | 0.8% |
| Kansas (KS) | 8 | $4.2M | 0.8% |
| Arizona (AZ) | 8 | $2.8M | 0.8% |
| Hawaii (HI) | 8 | $2.8M | 0.8% |
| Wisconsin (WI) | 8 | $2.5M | 0.8% |
| North Dakota (ND) | 8 | $2.5M | 0.8% |
| Kentucky (KY) | 8 | $2.2M | 0.8% |
| Mississippi (MS) | 8 | $2.1M | 0.8% |
| New York (NY) | 8 | $600K | 0.8% |
Why Choose Luminate Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 944 SBA loans approved, totaling $733.7M in financing
- ✓Industry Expertise: Specialized focus on Limited-Service Restaurants, Snack and Nonalcoholic Beverage Bars, Nail Salons
- ✓Competitive Terms: Average interest rate of 6.25% with flexible term lengths averaging 150 months
- ✓Loan Range: Loan sizes from $60K to $4.3M, with an average of $777K
- ✓Nationwide Reach: Active lending in 33 states, with strong presence in MN, TX, CA
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 Luminate Bank SBA lending
What types of businesses does Luminate Bank typically finance?
Luminate Bank specializes in SBA 7(a) lending to specific industries including limited-service restaurants, snack and nonalcoholic beverage bars, nail salons, pet care (except veterinary) services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Luminate Bank's typical SBA loan terms?
Luminate Bank's SBA 7(a) loans typically feature an average interest rate of 6.25% and average term length of 150 months (approximately 13 years). Loan sizes range from $60K to $4.3M, with an average loan size of $777K.
Do I need a business valuation for a Luminate Bank SBA loan?
Yes, Luminate 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 Luminate Bank compare to other SBA lenders?
Luminate Bank has originated 944 SBA loans totaling $733.7M 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 Luminate Bank lend in?
Luminate Bank provides SBA 7(a) financing with particularly strong presence in MN, TX, CA, FL, GA. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
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