STRONG
How competitive are their spreads? Lower = better for you.
STRONG
Total SBA loans closed. More deals = more experience.
GOOD
How many industries do they lend in? More = flexible.
FAIR
States where they've done deals. Wider = easier if you're out of state.
Total SBA Loans
669
2010–2026
Total Volume
$562M
Gross loan amounts
States Active
16
With recorded loans
Programs
7(a) & 504
669 total segments
Alerus Financial has a strong focus on existing businesses, with 47% of their deals serving this purpose. This makes them a suitable choice for established companies looking to expand or refinance.
With an average 7(a) spread of P+1.86%, Alerus Financial offers competitive pricing compared to the national median of P+2.75%. This could lead to significant savings over the life of the loan.
Despite a slight decline in growth trend at -3% YoY, Alerus has a solid volume of deals, totaling $562M. However, potential borrowers should be aware that this may indicate a tightening lending environment.
Quarterly SBA lending activity, last 5 years.
Estimated spreads based on real historical SBA lending data. Directional, not exact quotes. Excludes 127 504 loans, which use fixed SBA debenture rates.
Top 15 of 16 states where Alerus Financial, National Association has recorded SBA lending activity.
+ 10 more states
Lending activity by industry cluster.
Top 8 of 15 industries by deal count
Restaurants & Food Service
Accommodation & Food Services
Manufacturing
Manufacturing
Specialty Trade Contractors
Construction
Wholesale Trade
Wholesale Trade
Other Health Practitioners
Health Care & Social Assistance
Administrative & Waste Services
Administrative & Waste Services
Nursing & Residential Care
Health Care & Social Assistance
Gas Stations
Retail Trade
+ 7 more
All recorded SBA lending activity for Alerus Financial, National Association, grouped by state, industry, and deal size.
| Segment | Program | Deals↓ | Median Spread | Avg Size | Last Deal |
|---|---|---|---|---|---|
| Arizona · Gas Stations · $1M – $2M | 7(a) | 9 | P+1.75% | $1.3M | Q3 2021 |
| Arizona · Gas Stations · $500K – $1M | 7(a) | 8 | P+2.25% | $703K | Q3 2021 |
| Minnesota · Restaurants & Food Service · Under $150K | 7(a) | 8 | P+2.00% | $108K | Q2 2023 |
| Arizona · Administrative & Waste Services · $150K – $350K | 7(a) | 7 | P+2.25% | $276K | Q3 2022 |
| Arizona · Nursing & Residential Care · $350K – $500K | 7(a) | 7 | P+2.00% | $437K | Q4 2021 |
| Arizona · Food & Beverage Stores · $500K – $1M | 7(a) | 7 | P+2.00% | $799K | Q4 2024 |
| Minnesota · Other Health Practitioners · Under $150K | 7(a) | 7 | P+2.00% | $95K | Q1 2025 |
| Minnesota · Specialty Trade Contractors · Under $150K | 7(a) | 7 | P+2.00% | $75K | Q1 2024 |
| Arizona · Hotels & Accommodation · $1M – $2M | 7(a) | 6 | P+2.50% | $1.3M | Q1 2020 |
| Minnesota · Restaurants & Food Service · $150K – $350K | 504 | 6 | — | $260K | Q4 2020 |
| Minnesota · Administrative & Waste Services · Under $150K | 7(a) | 6 | P+1.88% | $122K | Q3 2023 |
| Arizona · Restaurants & Food Service · $150K – $350K | 7(a) | 6 | P+2.75% | $267K | Q1 2024 |
| Arizona · Nursing & Residential Care · $500K – $1M | 7(a) | 5 | P+2.00% | $763K | Q1 2022 |
| Arizona · Manufacturing · $500K – $1M | 7(a) | 5 | P+2.00% | $851K | Q1 2024 |
| Minnesota · Other Professional Services · $150K – $350K | 7(a) | 5 | P+1.75% | $308K | Q1 2024 |
| Minnesota · Other Professional Services · Under $150K | 7(a) | 5 | P+1.00% | $62K | Q3 2022 |
| Arizona · Hotels & Accommodation · $2M – $5M | 7(a) | 5 | P+2.75% | $4.4M | Q2 2015 |
| Arizona · Nursing & Residential Care · $1M – $2M | 7(a) | 5 | P+2.50% | $1.3M | Q4 2021 |
| Minnesota · Restaurants & Food Service · $150K – $350K | 7(a) | 5 | P+1.75% | $210K | Q2 2023 |
| Minnesota · Restaurants & Food Service · $500K – $1M | 7(a) | 5 | P+1.75% | $756K | Q1 2024 |
| North Dakota · Retail Trade · Under $150K | 7(a) | 5 | P+2.25% | $91K | Q2 2021 |
| Minnesota · Wholesale Trade · $2M – $5M | 7(a) | 5 | P+0.80% | $3.1M | Q3 2025 |
| Arizona · Personal Care (Salons, Spas) · $350K – $500K | 7(a) | 5 | P+2.00% | $420K | Q2 2024 |
| Minnesota · Hotels & Accommodation · $2M – $5M | 7(a) | 5 | P+2.00% | $2.8M | Q4 2017 |
| Minnesota · Manufacturing · Under $150K | 7(a) | 4 | P+2.13% | $125K | Q1 2025 |
Get a free personalized report comparing this lender against the best matches for your specific situation.
Free. No broker fees. Results in 10-15 minutes.
Real experiences from borrowers who closed SBA loans with Alerus Financial, National Association.
No reviews yet. Be the first to review Alerus Financial, National Association.
Listen to acquisition entrepreneurs share their experience
Matched to real SBA lending records. LenderHawk is not affiliated with or endorsed by these podcasts.