Platinum Bank
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by Platinum Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 713940 | Fitness and Recreational Sports Centers | 456 | $221.2M | $485K | 15.9% |
| 812199 | Other Personal Care Services | 256 | $110.6M | $432K | 8.9% |
| 722511 | Full-Service Restaurants | 128 | $93.0M | $727K | 4.5% |
| 722513 | Limited-Service Restaurants | 72 | $42.8M | $595K | 2.5% |
| 541990 | All Other Professional, Scientific, and Technical Services | 56 | $73.2M | $1.3M | 2.0% |
| 713990 | All Other Amusement and Recreation Industries | 48 | $84.0M | $1.8M | 1.7% |
| 332999 | All Other Miscellaneous Fabricated Metal Product Manufacturing | 48 | $48.0M | $1000K | 1.7% |
| 812990 | All Other Personal Services | 48 | $24.2M | $503K | 1.7% |
| 541890 | Other Services Related to Advertising | 40 | $22.0M | $549K | 1.4% |
| 238190 | Other Foundation, Structure, and Building Exterior Contractors | 40 | $47.0M | $1.2M | 1.4% |
Geographic Distribution
SBA lending activity for Platinum Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 1,800 | $1.67B | 62.8% |
| Wisconsin (WI) | 96 | $106.5M | 3.4% |
| California (CA) | 192 | $105.8M | 6.7% |
| Texas (TX) | 144 | $84.2M | 5.0% |
| Colorado (CO) | 32 | $55.7M | 1.1% |
| Washington (WA) | 56 | $53.9M | 2.0% |
| New Hampshire (NH) | 16 | $40.0M | 0.6% |
| Florida (FL) | 88 | $39.7M | 3.1% |
| South Dakota (SD) | 8 | $37.8M | 0.3% |
| Ohio (OH) | 32 | $35.5M | 1.1% |
| Pennsylvania (PA) | 40 | $31.9M | 1.4% |
| South Carolina (SC) | 64 | $28.0M | 2.2% |
| Illinois (IL) | 72 | $27.6M | 2.5% |
| Georgia (GA) | 48 | $15.9M | 1.7% |
| North Carolina (NC) | 24 | $13.9M | 0.8% |
| Maryland (MD) | 24 | $9.2M | 0.8% |
| Tennessee (TN) | 32 | $9.0M | 1.1% |
| North Dakota (ND) | 8 | $7.7M | 0.3% |
| Michigan (MI) | 8 | $6.4M | 0.3% |
| New Jersey (NJ) | 8 | $5.6M | 0.3% |
| Arizona (AZ) | 16 | $4.8M | 0.6% |
| Virginia (VA) | 8 | $4.0M | 0.3% |
| Montana (MT) | 8 | $3.8M | 0.3% |
| Idaho (ID) | 8 | $2.8M | 0.3% |
| Oregon (OR) | 8 | $2.4M | 0.3% |
| Nevada (NV) | 8 | $2.3M | 0.3% |
| Utah (UT) | 8 | $1.5M | 0.3% |
| Indiana (IN) | 8 | $1.4M | 0.3% |
Why Choose Platinum Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 2,864 SBA loans approved, totaling $2.41B in financing
- ✓Industry Expertise: Specialized focus on Fitness and Recreational Sports Centers, Other Personal Care Services, Full-Service Restaurants
- ✓Competitive Terms: Average interest rate of 8.09% with flexible term lengths averaging 125 months
- ✓Loan Range: Loan sizes from $20K to $5.0M, with an average of $840K
- ✓Nationwide Reach: Active lending in 28 states, with strong presence in MN, CA, TX
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 Platinum Bank SBA lending
What types of businesses does Platinum Bank typically finance?
Platinum Bank specializes in SBA 7(a) lending to specific industries including fitness and recreational sports centers, other personal care services, full-service restaurants, limited-service restaurants. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Platinum Bank's typical SBA loan terms?
Platinum Bank's SBA 7(a) loans typically feature an average interest rate of 8.09% and average term length of 125 months (approximately 10 years). Loan sizes range from $20K to $5.0M, with an average loan size of $840K.
Do I need a business valuation for a Platinum Bank SBA loan?
Yes, Platinum 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 Platinum Bank compare to other SBA lenders?
Platinum Bank has originated 2,864 SBA loans totaling $2.41B 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 Platinum Bank lend in?
Platinum Bank provides SBA 7(a) financing with particularly strong presence in MN, CA, TX, WI, FL. 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.
Explore Industry Reports →Need a Business Valuation?
Professional valuations are often required for SBA loans over $250,000.
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