State Bank of Lake Park
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by State Bank of Lake Park · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 561730 | Landscaping Services | 3 | $218K | $73K | 20.0% |
| 811310 | Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance | 2 | $146K | $73K | 13.3% |
| 236115 | New Single-Family Housing Construction (except For-Sale Builders) | 2 | $194K | $97K | 13.3% |
| 238210 | Electrical Contractors and Other Wiring Installation Contractors | 1 | $12K | $12K | 6.7% |
| 238110 | Poured Concrete Foundation and Structure Contractors | 1 | $50K | $50K | 6.7% |
| 332912 | Fluid Power Valve and Hose Fitting Manufacturing | 1 | $20K | $20K | 6.7% |
| 236220 | Commercial and Institutional Building Construction | 1 | $258K | $258K | 6.7% |
| 323113 | Commercial Screen Printing | 1 | $166K | $166K | 6.7% |
| 524210 | Insurance Agencies and Brokerages | 1 | $25K | $25K | 6.7% |
| 238310 | Drywall and Insulation Contractors | 1 | $37K | $37K | 6.7% |
Geographic Distribution
SBA lending activity for State Bank of Lake Park by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 13 | $1.2M | 86.7% |
| North Dakota (ND) | 2 | $70K | 13.3% |
Why Choose State Bank of Lake Park?
Based on SBA 7(a) lending track record from 2001-2025
- ✓Proven Track Record: 15 SBA loans approved, totaling $1.2M in financing
- ✓Industry Expertise: Specialized focus on Landscaping Services, Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance, New Single-Family Housing Construction (except For-Sale Builders)
- ✓Competitive Terms: Average interest rate of 7.58% with flexible term lengths averaging 105 months
- ✓Loan Range: Loan sizes from $10K to $258K, with an average of $83K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in MN, ND
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 State Bank of Lake Park SBA lending
What types of businesses does State Bank of Lake Park typically finance?
State Bank of Lake Park specializes in SBA 7(a) lending to specific industries including landscaping services, commercial and industrial machinery and equipment (except automotive and electronic) repair and maintenance, new single-family housing construction (except for-sale builders), electrical contractors and other wiring installation contractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are State Bank of Lake Park's typical SBA loan terms?
State Bank of Lake Park's SBA 7(a) loans typically feature an average interest rate of 7.58% and average term length of 105 months (approximately 9 years). Loan sizes range from $10K to $258K, with an average loan size of $83K.
Do I need a business valuation for a State Bank of Lake Park SBA loan?
Yes, State Bank of Lake Park 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 State Bank of Lake Park compare to other SBA lenders?
State Bank of Lake Park has originated 15 SBA loans totaling $1.2M since 2001. 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 State Bank of Lake Park lend in?
State Bank of Lake Park provides SBA 7(a) financing with particularly strong presence in MN, ND. 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.
Get your certified valuation from Fair Market Value.