Premier Bank Minnesota
SBA 7(a) Lending Profile · FY 2024 analysis
Industry Focus
Top industries served by Premier Bank Minnesota
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 621310 | Offices of Chiropractors | 40 | $3.9M | $98K | 33.3% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 16 | $1.0M | $65K | 13.3% |
| 561730 | Landscaping Services | 8 | $120K | $15K | 6.7% |
| 611699 | All Other Miscellaneous Schools and Instruction | 8 | $960K | $120K | 6.7% |
| 311611 | Animal (except Poultry) Slaughtering | 8 | $2.6M | $320K | 6.7% |
| 112111 | Beef Cattle Ranching and Farming | 8 | $1.6M | $200K | 6.7% |
| 541940 | Veterinary Services | 8 | $720K | $90K | 6.7% |
| 811111 | General Automotive Repair | 8 | $1.9M | $240K | 6.7% |
| 812113 | Nail Salons | 8 | $224K | $28K | 6.7% |
| 111110 | Soybean Farming | 8 | $576K | $72K | 6.7% |
Geographic Distribution
SBA lending activity for Premier Bank Minnesota by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 120 | $13.6M | 100.0% |
Why Choose Premier Bank Minnesota?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 120 SBA loans approved, totaling $13.6M in financing
- ✓Industry Expertise: Specialized focus on Offices of Chiropractors, Plumbing, Heating, and Air-Conditioning Contractors, Landscaping Services
- ✓Competitive Terms: Average interest rate of 7.98% with flexible term lengths averaging 74 months
- ✓Loan Range: Loan sizes from $15K to $320K, with an average of $114K
- ✓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 Premier Bank Minnesota SBA lending
What types of businesses does Premier Bank Minnesota typically finance?
Premier Bank Minnesota specializes in SBA 7(a) lending to specific industries including offices of chiropractors, plumbing, heating, and air-conditioning contractors, landscaping services, all other miscellaneous schools and instruction. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Premier Bank Minnesota's typical SBA loan terms?
Premier Bank Minnesota's SBA 7(a) loans typically feature an average interest rate of 7.98% and average term length of 74 months (approximately 6 years). Loan sizes range from $15K to $320K, with an average loan size of $114K.
Do I need a business valuation for a Premier Bank Minnesota SBA loan?
Yes, Premier Bank 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 Premier Bank Minnesota compare to other SBA lenders?
Premier Bank Minnesota has originated 120 SBA loans totaling $13.6M 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 Premier Bank Minnesota lend in?
Premier Bank 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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Professional valuations are often required for SBA loans over $250,000.
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