Northern National Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Northern National Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722410 | Drinking Places (Alcoholic Beverages) | 1 | $240K | $240K | 50.0% |
Geographic Distribution
SBA lending activity for Northern National Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 2 | $990K | 100.0% |
Why Choose Northern National Bank?
Based on SBA 7(a) lending track record from 2003-2003
- ✓Proven Track Record: 2 SBA loans approved, totaling $990K in financing
- ✓Industry Expertise: Specialized focus on Drinking Places (Alcoholic Beverages)
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 162 months
- ✓Loan Range: Loan sizes from $240K to $750K, with an average of $495K
- ✓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 Northern National Bank SBA lending
What types of businesses does Northern National Bank typically finance?
Northern National Bank specializes in SBA 7(a) lending to specific industries including drinking places (alcoholic beverages). They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Northern National Bank's typical SBA loan terms?
Northern National Bank's SBA 7(a) loans typically feature an average interest rate of — and average term length of 162 months (approximately 14 years). Loan sizes range from $240K to $750K, with an average loan size of $495K.
Do I need a business valuation for a Northern National Bank SBA loan?
Yes, Northern National 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 Northern National Bank compare to other SBA lenders?
Northern National Bank has originated 2 SBA loans totaling $990K since 2003. 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 Northern National Bank lend in?
Northern National 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.
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Certified valuations are often required for SBA loans over $250,000.
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