Security State Bank of Aitkin
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by Security State Bank of Aitkin
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 24 | $3.1M | $130K | 27.3% |
| 532310 | General Rental Centers | 24 | $860K | $36K | 27.3% |
| 541350 | Building Inspection Services | 8 | $240K | $30K | 9.1% |
| 238170 | Siding Contractors | 8 | $245K | $31K | 9.1% |
| 713910 | Golf Courses and Country Clubs | 8 | $707K | $88K | 9.1% |
| 449129 | Other | 8 | $2.8M | $350K | 9.1% |
| 722513 | Limited-Service Restaurants | 8 | $200K | $25K | 9.1% |
Geographic Distribution
SBA lending activity for Security State Bank of Aitkin by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 88 | $8.2M | 100.0% |
Why Choose Security State Bank of Aitkin?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 88 SBA loans approved, totaling $8.2M in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, General Rental Centers, Building Inspection Services
- ✓Competitive Terms: Average interest rate of 6.32% with flexible term lengths averaging 89 months
- ✓Loan Range: Loan sizes from $13K to $350K, with an average of $93K
- ✓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 Security State Bank of Aitkin SBA lending
What types of businesses does Security State Bank of Aitkin typically finance?
Security State Bank of Aitkin specializes in SBA 7(a) lending to specific industries including full-service restaurants, general rental centers, building inspection services, siding contractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Security State Bank of Aitkin's typical SBA loan terms?
Security State Bank of Aitkin's SBA 7(a) loans typically feature an average interest rate of 6.32% and average term length of 89 months (approximately 7 years). Loan sizes range from $13K to $350K, with an average loan size of $93K.
Do I need a business valuation for a Security State Bank of Aitkin SBA loan?
Yes, Security State Bank of Aitkin 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 Security State Bank of Aitkin compare to other SBA lenders?
Security State Bank of Aitkin has originated 88 SBA loans totaling $8.2M 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 Security State Bank of Aitkin lend in?
Security State Bank of Aitkin 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.
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