Northern State Bank of Virginia
SBA 7(a) Lending Profile · All Time analysis
Geographic Distribution
SBA lending activity for Northern State Bank of Virginia by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 48 | $51.8M | 100.0% |
Why Choose Northern State Bank of Virginia?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 48 SBA loans approved, totaling $51.8M in financing
- ✓Industry Expertise: Specialized focus on Couriers, Other, Offices of Optometrists
- ✓Competitive Terms: Average interest rate of 7.78% with flexible term lengths averaging 181 months
- ✓Loan Range: Loan sizes from $367K to $1.5M, with an average of $1.1M
- ✓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 State Bank of Virginia SBA lending
What types of businesses does Northern State Bank of Virginia typically finance?
Northern State Bank of Virginia specializes in SBA 7(a) lending to specific industries including couriers, other, offices of optometrists. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Northern State Bank of Virginia's typical SBA loan terms?
Northern State Bank of Virginia's SBA 7(a) loans typically feature an average interest rate of 7.78% and average term length of 181 months (approximately 15 years). Loan sizes range from $367K to $1.5M, with an average loan size of $1.1M.
Do I need a business valuation for a Northern State Bank of Virginia SBA loan?
Yes, Northern State Bank of Virginia 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 State Bank of Virginia compare to other SBA lenders?
Northern State Bank of Virginia has originated 48 SBA loans totaling $51.8M 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 Northern State Bank of Virginia lend in?
Northern State Bank of Virginia 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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