Red River State Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Red River State Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 115112 | Soil Preparation, Planting, and Cultivating | 23 | $6.7M | $293K | 10.3% |
| 111110 | Soybean Farming | 15 | $9.2M | $616K | 6.7% |
| 111191 | Oilseed and Grain Combination Farming | 13 | $13.6M | $1.0M | 5.8% |
| 722410 | Drinking Places (Alcoholic Beverages) | 11 | $437K | $40K | 4.9% |
| 111940 | Hay Farming | 11 | $1.8M | $165K | 4.9% |
| 236116 | New Multifamily Housing Construction (except For-Sale Builders) | 10 | $11.1M | $1.1M | 4.5% |
| 561730 | Landscaping Services | 9 | $933K | $104K | 4.0% |
| 621210 | Offices of Dentists | 8 | $1.2M | $152K | 3.6% |
| 811310 | Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance | 7 | $753K | $108K | 3.1% |
| 111150 | Corn Farming | 7 | $8.2M | $1.2M | 3.1% |
Geographic Distribution
SBA lending activity for Red River State Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 153 | $47.1M | 68.3% |
| North Dakota (ND) | 45 | $22.1M | 20.1% |
| South Dakota (SD) | 8 | $8.6M | 3.6% |
| California (CA) | 1 | $779K | 0.4% |
| Florida (FL) | 3 | $747K | 1.3% |
| Illinois (IL) | 5 | $700K | 2.2% |
| Tennessee (TN) | 3 | $385K | 1.3% |
| New York (NY) | 2 | $150K | 0.9% |
| Montana (MT) | 1 | $150K | 0.4% |
| Delaware (DE) | 2 | $146K | 0.9% |
| Wisconsin (WI) | 1 | $110K | 0.4% |
Why Choose Red River State Bank?
Based on SBA 7(a) lending track record from 1993-2025
- ✓Proven Track Record: 224 SBA loans approved, totaling $81.0M in financing
- ✓Industry Expertise: Specialized focus on Soil Preparation, Planting, and Cultivating, Soybean Farming, Oilseed and Grain Combination Farming
- ✓Competitive Terms: Average interest rate of 5.45% with flexible term lengths averaging 96 months
- ✓Loan Range: Loan sizes from $4K to $3.7M, with an average of $362K
- ✓Nationwide Reach: Active lending in 11 states, with strong presence in MN, ND, 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 Red River State Bank SBA lending
What types of businesses does Red River State Bank typically finance?
Red River State Bank specializes in SBA 7(a) lending to specific industries including soil preparation, planting, and cultivating, soybean farming, oilseed and grain combination farming, drinking places (alcoholic beverages). They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Red River State Bank's typical SBA loan terms?
Red River State Bank's SBA 7(a) loans typically feature an average interest rate of 5.45% and average term length of 96 months (approximately 8 years). Loan sizes range from $4K to $3.7M, with an average loan size of $362K.
Do I need a business valuation for a Red River State Bank SBA loan?
Yes, Red River State 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 Red River State Bank compare to other SBA lenders?
Red River State Bank has originated 224 SBA loans totaling $81.0M since 1993. 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 Red River State Bank lend in?
Red River State Bank provides SBA 7(a) financing with particularly strong presence in MN, ND, SD, IL, TN. 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?
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