State Bank of Lake Park
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by State Bank of Lake Park
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811310 | Commercial and Industrial Machinery and Equipment (except Automotive a | 16 | $1.2M | $73K | 28.6% |
| 524210 | Insurance Agencies and Brokerages | 8 | $200K | $25K | 14.3% |
| 323113 | Commercial Screen Printing | 8 | $1.3M | $166K | 14.3% |
| 236220 | Commercial and Institutional Building Construction | 8 | $2.1M | $258K | 14.3% |
| 238110 | Poured Concrete Foundation and Structure Contractors | 8 | $400K | $50K | 14.3% |
| 332912 | Fluid Power Valve and Hose Fitting Manufacturing | 8 | $160K | $20K | 14.3% |
Geographic Distribution
SBA lending activity for State Bank of Lake Park by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 56 | $5.3M | 100.0% |
Why Choose State Bank of Lake Park?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 56 SBA loans approved, totaling $5.3M in financing
- ✓Industry Expertise: Specialized focus on Commercial and Industrial Machinery and Equipment (except Automotive a, Insurance Agencies and Brokerages, Commercial Screen Printing
- ✓Competitive Terms: Average interest rate of 7.71% with flexible term lengths averaging 89 months
- ✓Loan Range: Loan sizes from $20K to $258K, with an average of $95K
- ✓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 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 commercial and industrial machinery and equipment (except automotive a, insurance agencies and brokerages, commercial screen printing, commercial and institutional building construction. 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 7.71% and average term length of 89 months (approximately 7 years). Loan sizes range from $20K to $258K, with an average loan size of $95K.
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 56 SBA loans totaling $5.3M 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 State Bank of Lake Park lend in?
State Bank of Lake Park 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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