Northwoods Bank of Minnesota
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Northwoods Bank of Minnesota
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 515111 | Radio Networks | 8 | $8.0M | $1.0M | 33.3% |
| 424410 | General Line Grocery Merchant Wholesalers | 8 | $2.2M | $270K | 33.3% |
| 484230 | Specialized Freight (except Used Goods) Trucking, Long-Distance | 8 | $720K | $90K | 33.3% |
Geographic Distribution
SBA lending activity for Northwoods Bank of Minnesota by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 24 | $10.9M | 100.0% |
Why Choose Northwoods Bank of Minnesota?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 24 SBA loans approved, totaling $10.9M in financing
- ✓Industry Expertise: Specialized focus on Radio Networks, General Line Grocery Merchant Wholesalers, Specialized Freight (except Used Goods) Trucking, Long-Distance
- ✓Competitive Terms: Average interest rate of 5.13% with flexible term lengths averaging 200 months
- ✓Loan Range: Loan sizes from $90K to $1.0M, with an average of $453K
- ✓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 Northwoods Bank of Minnesota SBA lending
What types of businesses does Northwoods Bank of Minnesota typically finance?
Northwoods Bank of Minnesota specializes in SBA 7(a) lending to specific industries including radio networks, general line grocery merchant wholesalers, specialized freight (except used goods) trucking, long-distance. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Northwoods Bank of Minnesota's typical SBA loan terms?
Northwoods Bank of Minnesota's SBA 7(a) loans typically feature an average interest rate of 5.13% and average term length of 200 months (approximately 17 years). Loan sizes range from $90K to $1.0M, with an average loan size of $453K.
Do I need a business valuation for a Northwoods Bank of Minnesota SBA loan?
Yes, Northwoods Bank of Minnesota 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 Northwoods Bank of Minnesota compare to other SBA lenders?
Northwoods Bank of Minnesota has originated 24 SBA loans totaling $10.9M 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 Northwoods Bank of Minnesota lend in?
Northwoods Bank of Minnesota 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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Explore Industry Reports →Need a Business Valuation?
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