STRONG
How competitive are their spreads? Lower = better for you.
GOOD
Total SBA loans closed. More deals = more experience.
GOOD
How many industries do they lend in? More = flexible.
WEAK
States where they've done deals. Wider = easier if you're out of state.
Total SBA Loans
214
2010–2026
Total Volume
$68M
Gross loan amounts
States Active
2
With recorded loans
Programs
7(a) & 504
214 total segments
BankCherokee has a strong focus on existing businesses, with 75% of their deals supporting established companies. This makes them a good fit for borrowers looking to expand or refinance rather than start a new venture.
With an average 7(a) spread of P+1.87%, BankCherokee offers competitive pricing compared to the national median of P+2.75%. This could lead to significant savings on interest costs over the life of your loan.
Despite a solid presence in Minnesota, with 213 out of 214 deals, BankCherokee's activity is limited to just two states. If you're outside of Minnesota or Wisconsin, you may face challenges in securing a loan from them.
Quarterly SBA lending activity, last 5 years.
Estimated spreads based on real historical SBA lending data. Directional, not exact quotes. Excludes 31 504 loans, which use fixed SBA debenture rates.
States where BankCherokee has recorded SBA lending activity.
Lending activity by industry cluster.
Top 8 of 15 industries by deal count
Restaurants & Food Service
Accommodation & Food Services
Manufacturing
Manufacturing
Administrative & Waste Services
Administrative & Waste Services
Other Health Practitioners
Health Care & Social Assistance
Wholesale Trade
Wholesale Trade
Physician & Dental Offices
Health Care & Social Assistance
Personal Care (Salons, Spas)
Other Services
Real Estate
Real Estate
+ 7 more
All recorded SBA lending activity for BankCherokee, grouped by state, industry, and deal size.
| Segment | Program | Deals↓ | Median Spread | Avg Size | Last Deal |
|---|---|---|---|---|---|
| Minnesota · Restaurants & Food Service · Under $150K | 7(a) | 13 | P+2.25% | $88K | Q2 2024 |
| Minnesota · Manufacturing · Under $150K | 7(a) | 12 | P+1.75% | $80K | Q1 2021 |
| Minnesota · Other Health Practitioners · Under $150K | 7(a) | 10 | P+1.69% | $75K | Q3 2022 |
| Minnesota · Administrative & Waste Services · Under $150K | 7(a) | 8 | P+2.00% | $109K | Q2 2024 |
| Minnesota · Wholesale Trade · Under $150K | 7(a) | 7 | P+2.00% | $92K | Q2 2021 |
| Minnesota · Physician & Dental Offices · Under $150K | 7(a) | 7 | P+2.00% | $81K | Q2 2024 |
| Minnesota · Restaurants & Food Service · $150K – $350K | 7(a) | 7 | P+2.13% | $259K | Q1 2024 |
| Minnesota · Manufacturing · $150K – $350K | 7(a) | 6 | P+1.88% | $285K | Q3 2023 |
| Minnesota · Personal Care (Salons, Spas) · Under $150K | 7(a) | 6 | P+2.13% | $67K | Q1 2023 |
| Minnesota · Specialty Trade Contractors · Under $150K | 7(a) | 5 | P+2.50% | $107K | Q2 2022 |
| Minnesota · Administrative & Waste Services · $150K – $350K | 7(a) | 4 | P+2.25% | $212K | Q1 2025 |
| Minnesota · Arts, Entertainment & Recreation · Under $150K | 7(a) | 4 | P+2.50% | $93K | Q4 2016 |
| Minnesota · Retail Trade · Under $150K | 7(a) | 4 | P+2.25% | $93K | Q4 2021 |
| Minnesota · Real Estate · Under $150K | 7(a) | 4 | P+2.00% | $80K | Q4 2019 |
| Minnesota · Food & Beverage Stores · $150K – $350K | 7(a) | 4 | P+1.00% | $244K | Q2 2019 |
| Minnesota · Engineering & Architecture · $150K – $350K | 7(a) | 3 | P+1.75% | $283K | Q4 2025 |
| Minnesota · Miscellaneous Retail · Under $150K | 7(a) | 3 | P+2.00% | $70K | Q3 2025 |
| Minnesota · Restaurants & Food Service · $350K – $500K | 7(a) | 3 | P+2.00% | $399K | Q4 2022 |
| Minnesota · Restaurants & Food Service · $500K – $1M | 7(a) | 3 | P+2.75% | $688K | Q2 2025 |
| Minnesota · Miscellaneous Retail · $150K – $350K | 7(a) | 3 | P+2.00% | $266K | Q3 2025 |
| Minnesota · Manufacturing · $1M – $2M | 504 | 3 | — | $1.5M | Q4 2021 |
| Minnesota · Personal Care (Salons, Spas) · $150K – $350K | 7(a) | 3 | P+1.25% | $293K | Q1 2020 |
| Minnesota · Accounting & Tax · Under $150K | 7(a) | 3 | P+2.00% | $80K | Q4 2023 |
| Minnesota · General Merchandise · Under $150K | 7(a) | 3 | P+1.75% | $112K | Q3 2020 |
| Minnesota · Administrative & Waste Services · $150K – $350K | 504 | 3 | — | $260K | Q3 2023 |
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