The Citizens National Bank of Park Rapids
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by The Citizens National Bank of Park Rapids · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 321920 | Wood Container and Pallet Manufacturing | 7 | $598K | $85K | 10.9% |
| 721110 | Hotels (except Casino Hotels) and Motels | 6 | $2.8M | $474K | 9.4% |
| 332710 | Machine Shops | 4 | $190K | $48K | 6.3% |
| 485310 | Taxi and Ridesharing Services | 2 | $91K | $45K | 3.1% |
| 321992 | Prefabricated Wood Building Manufacturing | 2 | $250K | $125K | 3.1% |
| 111998 | All Other Miscellaneous Crop Farming | 2 | $105K | $53K | 3.1% |
| 238990 | All Other Specialty Trade Contractors | 2 | $150K | $75K | 3.1% |
| 332812 | Metal Coating, Engraving (except Jewelry and Silverware), and Allied Services to Manufacturers | 2 | $225K | $113K | 3.1% |
| 541191 | Title Abstract and Settlement Offices | 2 | $540K | $270K | 3.1% |
| 811198 | All Other Automotive Repair and Maintenance | 2 | $225K | $113K | 3.1% |
Geographic Distribution
SBA lending activity for The Citizens National Bank of Park Rapids by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 62 | $10.1M | 96.9% |
| North Dakota (ND) | 1 | $400K | 1.6% |
| Nebraska (NE) | 1 | $175K | 1.6% |
Why Choose The Citizens National Bank of Park Rapids?
Based on SBA 7(a) lending track record from 1991-2025
- ✓Proven Track Record: 64 SBA loans approved, totaling $10.7M in financing
- ✓Industry Expertise: Specialized focus on Wood Container and Pallet Manufacturing, Hotels (except Casino Hotels) and Motels, Machine Shops
- ✓Competitive Terms: Average interest rate of 5.89% with flexible term lengths averaging 112 months
- ✓Loan Range: Loan sizes from $20K to $1.6M, with an average of $167K
- ✓Nationwide Reach: Active lending in 3 states, with strong presence in MN, ND, NE
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 The Citizens National Bank of Park Rapids SBA lending
What types of businesses does The Citizens National Bank of Park Rapids typically finance?
The Citizens National Bank of Park Rapids specializes in SBA 7(a) lending to specific industries including wood container and pallet manufacturing, hotels (except casino hotels) and motels, machine shops, taxi and ridesharing services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are The Citizens National Bank of Park Rapids's typical SBA loan terms?
The Citizens National Bank of Park Rapids's SBA 7(a) loans typically feature an average interest rate of 5.89% and average term length of 112 months (approximately 9 years). Loan sizes range from $20K to $1.6M, with an average loan size of $167K.
Do I need a business valuation for a The Citizens National Bank of Park Rapids SBA loan?
Yes, The Citizens National Bank of Park Rapids 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 The Citizens National Bank of Park Rapids compare to other SBA lenders?
The Citizens National Bank of Park Rapids has originated 64 SBA loans totaling $10.7M since 1991. 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 The Citizens National Bank of Park Rapids lend in?
The Citizens National Bank of Park Rapids provides SBA 7(a) financing with particularly strong presence in MN, ND, NE. 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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