Prime Security Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Prime Security Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 16 | $9.3M | $583K | 14.3% |
| 541211 | Offices of Certified Public Accountants | 16 | $4.0M | $248K | 14.3% |
| 722511 | Full-Service Restaurants | 16 | $2.3M | $144K | 14.3% |
| 238320 | Painting and Wall Covering Contractors | 8 | $600K | $75K | 7.1% |
| 561730 | Landscaping Services | 8 | $360K | $45K | 7.1% |
| 447110 | Gasoline Stations with Convenience Stores | 8 | $200K | $25K | 7.1% |
| 518210 | Data Processing, Hosting, and Related Services | 8 | $360K | $45K | 7.1% |
| 454390 | Other Direct Selling Establishments | 8 | $1.4M | $172K | 7.1% |
| 711120 | Dance Companies | 8 | $1.3M | $164K | 7.1% |
| 713940 | Fitness and Recreational Sports Centers | 8 | $2.5M | $312K | 7.1% |
Geographic Distribution
SBA lending activity for Prime Security Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 104 | $22.8M | 92.9% |
| South Dakota (SD) | 8 | $1.4M | 7.1% |
Why Choose Prime Security Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 112 SBA loans approved, totaling $24.1M in financing
- ✓Industry Expertise: Specialized focus on Plumbing, Heating, and Air-Conditioning Contractors, Offices of Certified Public Accountants, Full-Service Restaurants
- ✓Competitive Terms: Average interest rate of 7.39% with flexible term lengths averaging 115 months
- ✓Loan Range: Loan sizes from $25K to $990K, with an average of $215K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in MN, SD
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 Prime Security Bank SBA lending
What types of businesses does Prime Security Bank typically finance?
Prime Security Bank specializes in SBA 7(a) lending to specific industries including plumbing, heating, and air-conditioning contractors, offices of certified public accountants, full-service restaurants, painting and wall covering contractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Prime Security Bank's typical SBA loan terms?
Prime Security Bank's SBA 7(a) loans typically feature an average interest rate of 7.39% and average term length of 115 months (approximately 10 years). Loan sizes range from $25K to $990K, with an average loan size of $215K.
Do I need a business valuation for a Prime Security Bank SBA loan?
Yes, Prime Security 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 Prime Security Bank compare to other SBA lenders?
Prime Security Bank has originated 112 SBA loans totaling $24.1M 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 Prime Security Bank lend in?
Prime Security Bank provides SBA 7(a) financing with particularly strong presence in MN, SD. 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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