Star Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Star Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 561730 | Landscaping Services | 5 | $378K | $76K | 7.6% |
| 811111 | General Automotive Repair | 5 | $321K | $64K | 7.6% |
| 238990 | All Other Specialty Trade Contractors | 3 | $615K | $205K | 4.5% |
| 237110 | Water and Sewer Line and Related Structures Construction | 3 | $305K | $102K | 4.5% |
| 722410 | Drinking Places (Alcoholic Beverages) | 3 | $145K | $48K | 4.5% |
| 722511 | Full-Service Restaurants | 2 | $199K | $99K | 3.0% |
| 812112 | Beauty Salons | 2 | $49K | $25K | 3.0% |
| 541370 | Surveying and Mapping (except Geophysical) Services | 2 | $20K | $10K | 3.0% |
| 332999 | All Other Miscellaneous Fabricated Metal Product Manufacturing | 1 | $17K | $17K | 1.5% |
| 112111 | Beef Cattle Ranching and Farming | 1 | $151K | $151K | 1.5% |
Geographic Distribution
SBA lending activity for Star Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 66 | $6.2M | 100.0% |
Why Choose Star Bank?
Based on SBA 7(a) lending track record from 1992-2023
- ✓Proven Track Record: 66 SBA loans approved, totaling $6.2M in financing
- ✓Industry Expertise: Specialized focus on Landscaping Services, General Automotive Repair, All Other Specialty Trade Contractors
- ✓Competitive Terms: Average interest rate of 6.66% with flexible term lengths averaging 99 months
- ✓Loan Range: Loan sizes from $6K to $469K, 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 Star Bank SBA lending
What types of businesses does Star Bank typically finance?
Star Bank specializes in SBA 7(a) lending to specific industries including landscaping services, general automotive repair, all other specialty trade contractors, water and sewer line and related structures construction. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Star Bank's typical SBA loan terms?
Star Bank's SBA 7(a) loans typically feature an average interest rate of 6.66% and average term length of 99 months (approximately 8 years). Loan sizes range from $6K to $469K, with an average loan size of $93K.
Do I need a business valuation for a Star Bank SBA loan?
Yes, Star 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 Star Bank compare to other SBA lenders?
Star Bank has originated 66 SBA loans totaling $6.2M since 1992. 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 Star Bank lend in?
Star 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?
Certified valuations are often required for SBA loans over $250,000.
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