ProGrowth Bank
SBA 7(a) Lending Profile · FY 2025 analysis
Industry Focus
Top industries served by ProGrowth Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 332710 | Machine Shops | 32 | $3.2M | $101K | 18.2% |
| 561730 | Landscaping Services | 32 | $4.3M | $136K | 18.2% |
| 457210 | Other | 24 | $15.2M | $634K | 13.6% |
| 238990 | All Other Specialty Trade Contractors | 16 | $1.9M | $116K | 9.1% |
| 611699 | All Other Miscellaneous Schools and Instruction | 8 | $528K | $66K | 4.5% |
| 238140 | Masonry Contractors | 8 | $490K | $61K | 4.5% |
| 444120 | Paint and Wallpaper Stores | 8 | $1.8M | $230K | 4.5% |
| 811490 | Other Personal and Household Goods Repair and Maintenance | 8 | $256K | $32K | 4.5% |
| 111150 | Corn Farming | 8 | $3.8M | $475K | 4.5% |
| 445210 | Meat Markets | 8 | $1.2M | $150K | 4.5% |
Geographic Distribution
SBA lending activity for ProGrowth Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 176 | $42.6M | 100.0% |
Why Choose ProGrowth Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 176 SBA loans approved, totaling $42.6M in financing
- ✓Industry Expertise: Specialized focus on Machine Shops, Landscaping Services, Other
- ✓Competitive Terms: Average interest rate of 6.71% with flexible term lengths averaging 137 months
- ✓Loan Range: Loan sizes from $32K to $785K, with an average of $242K
- ✓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 ProGrowth Bank SBA lending
What types of businesses does ProGrowth Bank typically finance?
ProGrowth Bank specializes in SBA 7(a) lending to specific industries including machine shops, landscaping services, other, all other specialty trade contractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are ProGrowth Bank's typical SBA loan terms?
ProGrowth Bank's SBA 7(a) loans typically feature an average interest rate of 6.71% and average term length of 137 months (approximately 11 years). Loan sizes range from $32K to $785K, with an average loan size of $242K.
Do I need a business valuation for a ProGrowth Bank SBA loan?
Yes, ProGrowth 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 ProGrowth Bank compare to other SBA lenders?
ProGrowth Bank has originated 176 SBA loans totaling $42.6M 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 ProGrowth Bank lend in?
ProGrowth Bank 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.
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.
Get your certified valuation from Fair Market Value.