Sherburne State Bank
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by Sherburne State Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 541519 | Other Computer Related Services | 16 | $11.1M | $697K | 14.3% |
| 238210 | Electrical Contractors | 8 | $1.6M | $200K | 7.1% |
| 621320 | Offices of Optometrists | 8 | $5.0M | $620K | 7.1% |
| 524210 | Insurance Agencies and Brokerages | 8 | $432K | $54K | 7.1% |
| 812112 | Beauty Salons | 8 | $1.5M | $189K | 7.1% |
| 561730 | Landscaping Services | 8 | $2.4M | $300K | 7.1% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 8 | $2.9M | $360K | 7.1% |
| 238990 | All Other Specialty Trade Contractors | 8 | $2.8M | $345K | 7.1% |
| 458110 | Other | 8 | $120K | $15K | 7.1% |
| 561431 | Private Mail Centers | 8 | $1.7M | $216K | 7.1% |
Geographic Distribution
SBA lending activity for Sherburne State Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 112 | $46.1M | 100.0% |
Why Choose Sherburne State Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 112 SBA loans approved, totaling $46.1M in financing
- ✓Industry Expertise: Specialized focus on Other Computer Related Services, Electrical Contractors, Offices of Optometrists
- ✓Competitive Terms: Average interest rate of 7.72% with flexible term lengths averaging 110 months
- ✓Loan Range: Loan sizes from $15K to $1.5M, with an average of $412K
- ✓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 Sherburne State Bank SBA lending
What types of businesses does Sherburne State Bank typically finance?
Sherburne State Bank specializes in SBA 7(a) lending to specific industries including other computer related services, electrical contractors, offices of optometrists, insurance agencies and brokerages. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Sherburne State Bank's typical SBA loan terms?
Sherburne State Bank's SBA 7(a) loans typically feature an average interest rate of 7.72% and average term length of 110 months (approximately 9 years). Loan sizes range from $15K to $1.5M, with an average loan size of $412K.
Do I need a business valuation for a Sherburne State Bank SBA loan?
Yes, Sherburne 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 Sherburne State Bank compare to other SBA lenders?
Sherburne State Bank has originated 112 SBA loans totaling $46.1M 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 Sherburne State Bank lend in?
Sherburne State 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.