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SBA 7(a) record
Alerus Financial, National Association: SBA 7(a) loans made
Alerus Financial, National Association, a bank based in Grand Forks, ND, made 83 SBA 7(a) loans in the 36 months ending September 30, 2026, $77M in all, net of cancelled approvals. The typical loan was about $580K, and 22 were in the last 12 months. Most were in Minnesota.
- Evidence
- SBA 7(a) loans in the 36 months ending September 30, 2026, SBA
- Data as of
- SBA, September 30, 2026
- Page last changed
- November 9, 2026
- Loans, 36 months
- 83
- SBA FOIA,
- Net of cancelled approvals
- Dollars
- $77.0M
- SBA FOIA,
- Rounded amounts
- Typical loan
- $580K
- SBA FOIA,
- Largest loan
- $5M
- SBA FOIA,
- Rounded to 2 significant figures
- Last 12 months
- 22
- SBA FOIA,
Cite this
Source: The Lender Report, Alerus Financial, National Association: SBA 7(a) loans made, https://lender.report/lender/alerus-financial-nd/sba-7a/, data as of September 30, 2026.
The loans, newest first
Banks report no loan-level data for office, retail, industrial or construction loans. This list shows only multifamily and SBA loans.
| Period | Place | Loan | Amount | Rate | Term | LTV | Source |
|---|---|---|---|---|---|---|---|
| Sep 2026 | Minnesota | SBA 7(a), All Other Professional, Scientific, and Technical Services | $200K | 8.5% | 10 yr | SBA FOIA | |
| Aug 2026 | Arizona | SBA 7(a), Child Care Services | $990K | 7.5% | 11 yr | SBA FOIA | |
| Jul 2026 | Arizona | SBA 7(a), Beer, Wine, and Liquor Retailers | $2.3M | 8% | 10 yr | SBA FOIA | |
| Jul 2026 | Minnesota | SBA 7(a), Drycleaning and Laundry Services (except Coin-Operated) | $74K | 7% | 10 yr | SBA FOIA | |
| Jun 2026 | Minnesota | SBA 7(a), Other Commercial and Industrial Machinery and Equipment Rental and Leasing | $900K | 7.75% | 26 yr | SBA FOIA | |
| Jun 2026 | Utah | SBA 7(a), Beauty Salons | $380K | 8.75% | 10 yr | SBA FOIA | |
| Jun 2026 | North Dakota | SBA 7(a), Offices of Chiropractors | $330K | 7.75% | 10 yr | SBA FOIA | |
| Jun 2026 | Arizona | SBA 7(a), Jewelry Retailers | $80K | 8.25% | 10 yr | SBA FOIA | |
| May 2026 | Minnesota | SBA 7(a), Drycleaning and Laundry Services (except Coin-Operated) | $280K | 7% | 10 yr | SBA FOIA | |
| Apr 2026 | Arizona | SBA 7(a), Used Car Dealers | $1.1M | 6.75% | 25 yr | SBA FOIA | |
| Apr 2026 | North Dakota | SBA 7(a), Wholesale Trade | $85K | 7% | 10 yr | SBA FOIA | |
| Mar 2026 | North Dakota | SBA 7(a), Offices of Mental Health Practitioners (except Physicians) | $1.2M | 8.25% | 10 yr | SBA FOIA | |
| Mar 2026 | California | SBA 7(a), Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers | $770K | 8.25% | 10 yr | SBA FOIA | |
| Mar 2026 | California | SBA 7(a), Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers | $100K | 8.75% | 10 yr | SBA FOIA | |
| Feb 2026 | North Dakota | SBA 7(a), Support Activities for Oil and Gas Operations | $1.6M | 7.75% | 10 yr | SBA FOIA | |
| Feb 2026 | North Dakota | SBA 7(a), Support Activities for Oil and Gas Operations | $100K | 8.25% | 10 yr | SBA FOIA | |
| Jan 2026 | North Dakota | SBA 7(a), Other Services (except Public Administration) | $2.9M | 8% | 25 yr | SBA FOIA | |
| Jan 2026 | Minnesota | SBA 7(a), Pet and Pet Supplies Retailers | $670K | 8% | 10 yr | SBA FOIA | |
| Nov 2025 | Minnesota | SBA 7(a), Manufacturing | $510K | 8.75% | 10 yr | SBA FOIA | |
| Nov 2025 | Minnesota | SBA 7(a), Drycleaning and Laundry Services (except Coin-Operated) | $370K | 7% | 10 yr | SBA FOIA | |
| Nov 2025 | Minnesota | SBA 7(a), Wholesale Trade | $150K | 8.75% | 10 yr | SBA FOIA | |
| Nov 2025 | Minnesota | SBA 7(a), Drycleaning and Laundry Services (except Coin-Operated) | $80K | 8.25% | 10 yr | SBA FOIA | |
| Sep 2025 | Minnesota | SBA 7(a), Wholesale Trade | $4.5M | 8% | 10 yr | SBA FOIA | |
| Sep 2025 | Minnesota | SBA 7(a), Freight Transportation Arrangement | $2.4M | 7% | 10 yr | SBA FOIA | |
| Sep 2025 | Wisconsin | SBA 7(a), Full-Service Restaurants | $2.2M | 8% | 25 yr | SBA FOIA | |
| 83 SBA 7(a) loans since October 2023, net of cancelled | $77.0M | SBA FOIA | |||||
A blank means the source did not report it.
| State | Loans | Dollars |
|---|---|---|
| Minnesota | 35 | $27.8M |
| Arizona | 21 | $18.6M |
| North Dakota | 11 | $16.5M |
| Wisconsin | 6 | $9.20M |
| Utah | 4 | $2.24M |
| California | 2 | $870K |
| Colorado | 2 | $1.30M |
| Iowa | 2 | $440K |
SBA loans are on record by state only.
| Loan size | Loans | Dollars |
|---|---|---|
| Under $150K | 11 | $931K |
| $150K to $350K | 16 | $3.62M |
| $350K to $1M | 32 | $20.1M |
| $1M to $2.5M | 16 | $25.7M |
| $2.5M or more | 8 | $26.7M |
| Quarter | Loans | Dollars |
|---|---|---|
| 2024 Q1 | 12 | $7.58M |
| 2024 Q2 | 4 | $1.75M |
| 2024 Q3 | 13 | $17.2M |
| 2024 Q4 | 7 | $4.87M |
| 2025 Q1 | 10 | $5.42M |
| 2025 Q2 | 8 | $10.7M |
| 2025 Q3 | 7 | $14.3M |
| 2025 Q4 | 4 | $1.11M |
| 2026 Q1 | 7 | $7.34M |
| 2026 Q2 | 7 | $3.15M |
| 2026 Q3 | 4 | $3.56M |
Calendar quarters of the SBA approval date. The first and last may cover part of a quarter: the window is the 36 months ending September 30, 2026.
| Industry (NAICS) | Loans |
|---|---|
| Beauty Salons (812112) | 7 |
| Wholesale Trade | 5 |
| All Other Professional, Scientific, and Technical Services (541990) | 4 |
| Drycleaning and Laundry Services (except Coin-Operated) (812320) | 4 |
| All Other Personal Services (812990) | 3 |
| Beer, Wine, and Liquor Retailers (445320) | 3 |
| Offices of All Other Miscellaneous Health Practitioners (621399) | 3 |
| Outpatient Mental Health and Substance Abuse Centers (621420) | 3 |
| Snack and Nonalcoholic Beverage Bars (722515) | 3 |
| All Other Home Furnishings Retailers (449129) | 2 |
| All Other Miscellaneous Food Manufacturing (311999) | 2 |
| Construction | 2 |
A 6-digit code is printed only where the SBA file holds 5 or more loans of the program in that state; the rest show as their 2-digit sector.
| Processing method | Loans |
|---|---|
| Preferred Lenders Program | 64 |
| SBA Express Program | 11 |
| Working Capital CAPLine | 5 |
| 7a General | 2 |
| 7a with EWCP | 1 |
- Alerus Financial, National Association made 83 SBA 7(a) loans totaling $77M in the 36 months ending September 30, 2026, net of cancelled approvals, in 8 states. SBA FOIA,
- 22 of them were in the 12 months to September 30, 2026, and 32 in the 12 months before. SBA FOIA,
- The typical loan was about $580K, with the middle half between $250K and $1.2M. SBA FOIA,
- The largest was about $5M. Every amount is rounded to 2 significant figures. SBA FOIA,
- 11 loans were under $150K, and 24 were $1M or more. SBA FOIA,
- The SBA file shows a median initial rate of 9.00% on 83 loans, with the middle half between 8.00% and 10.00%. SBA FOIA,
- The median term was 10 years. SBA FOIA,
- Its loans went most often to Beauty Salons, with 7. SBA FOIA,
- The SBA file lists 64 of its loans as processed under Preferred Lenders Program. SBA FOIA,
- Its loans were most often in Minnesota (35), Arizona (21) and North Dakota (11). SBA FOIA,
What we don't know
- Whether Alerus Financial, National Association is taking new SBA 7(a) loans today, or how it would treat a business like yours.
- Loans that were never completed. The SBA file lists approvals, and this page leaves out the ones it marks cancelled.
- The borrower, the address and every term beyond rate and term. The public file does not show them.
SBA loans are on record by state only. Amounts are rounded to 2 significant figures and dates to the month. A 6-digit industry code is printed only where the SBA file holds 5 or more loans of the program in that state.
Loans are SBA approvals, net of cancelled approvals.
SBA does not require you to use an agent or broker for a loan application. SBA has not reviewed or endorsed this site.
Source and date appear beside each figure. Banks report balances, not loans made. Loans made come only from HMDA and SBA files. We do not audit filings and can make errors joining them. Report a problem
Figures come from public records and show the source and date beside them. Public records can be late, incomplete or wrong. A past loan does not mean a lender will make the same kind of loan today. Confirm anything important with the lender.