The Northern State Bank of Gonvick
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by The Northern State Bank of Gonvick · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|
Geographic Distribution
SBA lending activity for The Northern State Bank of Gonvick by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 4 | $122K | 100.0% |
Why Choose The Northern State Bank of Gonvick?
Based on SBA 7(a) lending track record from 1991-1995
- ✓Proven Track Record: 4 SBA loans approved, totaling $122K in financing
- ✓Industry Expertise: Specialized focus on
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 102 months
- ✓Loan Range: Loan sizes from $6K to $50K, with an average of $30K
- ✓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 Northern State Bank of Gonvick SBA lending
What types of businesses does The Northern State Bank of Gonvick typically finance?
The Northern State Bank of Gonvick specializes in SBA 7(a) lending to specific industries including . They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are The Northern State Bank of Gonvick's typical SBA loan terms?
The Northern State Bank of Gonvick's SBA 7(a) loans typically feature an average interest rate of — and average term length of 102 months (approximately 9 years). Loan sizes range from $6K to $50K, with an average loan size of $30K.
Do I need a business valuation for a The Northern State Bank of Gonvick SBA loan?
Yes, The Northern State Bank of Gonvick 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 Northern State Bank of Gonvick compare to other SBA lenders?
The Northern State Bank of Gonvick has originated 4 SBA loans totaling $122K 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 Northern State Bank of Gonvick lend in?
The Northern State Bank of Gonvick 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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