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.
GOOD
States where they've done deals. Wider = easier if you're out of state.
Total SBA Loans
119
2019–2023
Total Volume
$96M
Gross loan amounts
States Active
33
With recorded loans
Programs
7(a)
119 total segments
Luminate Bank focuses heavily on startups, with 82% of their deals going to new businesses. If you're a startup, this lender may be a good fit for you.
With an average spread of P+2.23%, Luminate Bank offers competitive pricing compared to the national median of P+2.75%. This could save you money on interest.
Luminate Bank has seen a drastic decline in lending activity, with a 90% drop in deals year-over-year. This trend may affect your chances of approval.
Quarterly SBA lending activity, last 5 years.
Estimated spreads based on real historical SBA lending data. Directional, not exact quotes.
Top 15 of 33 states where Luminate Bank 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
Personal Care (Salons, Spas)
Other Services
Manufacturing
Manufacturing
Other Repair & Services
Other Services
Management & IT Consulting
Professional Services
Auto Repair & Maintenance
Other Services
Arts, Entertainment & Recreation
Arts, Entertainment & Recreation
Administrative & Waste Services
Administrative & Waste Services
+ 7 more
All recorded SBA lending activity for Luminate Bank, grouped by state, industry, and deal size.
| Segment | Program | Deals↓ | Median Spread | Avg Size | Last Deal |
|---|---|---|---|---|---|
| Texas · Restaurants & Food Service · $1M – $2M | 7(a) | 6 | P+2.00% | $1.3M | Q3 2022 |
| Texas · Restaurants & Food Service · $350K – $500K | 7(a) | 5 | P+2.50% | $451K | Q2 2022 |
| California · Restaurants & Food Service · $500K – $1M | 7(a) | 5 | P+2.25% | $663K | Q3 2022 |
| Texas · Restaurants & Food Service · $500K – $1M | 7(a) | 5 | P+2.00% | $758K | Q2 2022 |
| Minnesota · Personal Care (Salons, Spas) · $500K – $1M | 7(a) | 4 | P+2.00% | $537K | Q3 2021 |
| California · Restaurants & Food Service · $150K – $350K | 7(a) | 4 | P+2.38% | $231K | Q2 2022 |
| Minnesota · Personal Care (Salons, Spas) · $350K – $500K | 7(a) | 3 | P+2.00% | $418K | Q3 2021 |
| Florida · Restaurants & Food Service · $500K – $1M | 7(a) | 3 | P+2.25% | $754K | Q1 2022 |
| Georgia · Arts, Entertainment & Recreation · Under $150K | 7(a) | 2 | P+2.75% | $105K | Q3 2023 |
| California · Restaurants & Food Service · $350K – $500K | 7(a) | 2 | P+2.75% | $430K | Q1 2022 |
| Oklahoma · Restaurants & Food Service · $500K – $1M | 7(a) | 2 | P+2.25% | $785K | Q1 2022 |
| Colorado · Management & IT Consulting · $2M – $5M | 7(a) | 2 | P+2.25% | $3.2M | Q3 2021 |
| Minnesota · Administrative & Waste Services · $150K – $350K | 7(a) | 2 | P+2.50% | $315K | Q4 2021 |
| Missouri · Restaurants & Food Service · $350K – $500K | 7(a) | 2 | P+2.13% | $421K | Q2 2022 |
| Minnesota · Restaurants & Food Service · $1M – $2M | 7(a) | 2 | P+1.75% | $1.4M | Q4 2022 |
| Minnesota · Personal Care (Salons, Spas) · Under $150K | 7(a) | 2 | P+2.00% | $90K | Q3 2022 |
| North Carolina · Restaurants & Food Service · $500K – $1M | 7(a) | 2 | P+2.38% | $595K | Q1 2022 |
| Tennessee · Restaurants & Food Service · $1M – $2M | 7(a) | 2 | P+2.00% | $1.4M | Q3 2022 |
| Virginia · Restaurants & Food Service · $500K – $1M | 7(a) | 2 | P+2.00% | $676K | Q2 2022 |
| Georgia · Restaurants & Food Service · $500K – $1M | 7(a) | 2 | P+2.00% | $647K | Q1 2022 |
| Kentucky · Restaurants & Food Service · $150K – $350K | 7(a) | 1 | P+2.75% | $270K | Q1 2022 |
| Maryland · Restaurants & Food Service · $500K – $1M | 7(a) | 1 | P+2.25% | $536K | Q4 2021 |
| Michigan · Restaurants & Food Service · $500K – $1M | 7(a) | 1 | P+2.75% | $592K | Q2 2022 |
| Minnesota · Specialty Trade Contractors · $1M – $2M | 7(a) | 1 | P+1.50% | $1.5M | Q3 2020 |
| Minnesota · Specialty Trade Contractors · $2M – $5M | 7(a) | 1 | P+2.25% | $3.2M | Q3 2020 |
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Real experiences from borrowers who closed SBA loans with Luminate Bank.
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