The Miners National Bank of Eveleth
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by The Miners National Bank of Eveleth · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811310 | Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance | 1 | $500K | $500K | 10.0% |
| 111421 | Nursery and Tree Production | 1 | $47K | $47K | 10.0% |
| 811111 | General Automotive Repair | 1 | $245K | $245K | 10.0% |
Geographic Distribution
SBA lending activity for The Miners National Bank of Eveleth by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 10 | $2.1M | 100.0% |
Why Choose The Miners National Bank of Eveleth?
Based on SBA 7(a) lending track record from 1992-2015
- ✓Proven Track Record: 10 SBA loans approved, totaling $2.1M in financing
- ✓Industry Expertise: Specialized focus on Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance, Nursery and Tree Production, General Automotive Repair
- ✓Competitive Terms: Average interest rate of 5.25% with flexible term lengths averaging 117 months
- ✓Loan Range: Loan sizes from $40K to $500K, with an average of $213K
- ✓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 The Miners National Bank of Eveleth SBA lending
What types of businesses does The Miners National Bank of Eveleth typically finance?
The Miners National Bank of Eveleth specializes in SBA 7(a) lending to specific industries including commercial and industrial machinery and equipment (except automotive and electronic) repair and maintenance, nursery and tree production, general automotive repair. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are The Miners National Bank of Eveleth's typical SBA loan terms?
The Miners National Bank of Eveleth's SBA 7(a) loans typically feature an average interest rate of 5.25% and average term length of 117 months (approximately 10 years). Loan sizes range from $40K to $500K, with an average loan size of $213K.
Do I need a business valuation for a The Miners National Bank of Eveleth SBA loan?
Yes, The Miners National Bank of Eveleth 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 Miners National Bank of Eveleth compare to other SBA lenders?
The Miners National Bank of Eveleth has originated 10 SBA loans totaling $2.1M 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 The Miners National Bank of Eveleth lend in?
The Miners National Bank of Eveleth 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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