Alerus Financial, National Association: SBA loans in this registry
26companies
26loans
$44.1Mtotal approved
$1.7Maverage loan
About this lender
- Type
- Bank
- Headquarters
- Grand Forks, ND
- FDIC certificate number
- 3931
- Total assets
- $5.3 billion (as of June 30, 2026)
- Established
- 1933
- Offices
- 26
- Website
- www.alerus.com
- Acquisition loans (7(a))
- 22 loans, $38.6M total, $1.8M average
- Expansion loans (504, SBA portion)
- 4 loans, $5.6M total, $1.4M average
- Approval dates
- Jan 27, 2024 to Jul 27, 2026
- Typical term (median)
- acquisition loans: 10 years; expansion loans: 25 years
- Initial interest rate (7(a))
- 7% to 10.75%, median 8.62%
- Rate type (7(a))
- 73% variable, 27% fixed
Top industries
- Beer, Wine, and Liquor Retailers: 2 loans
- Electrical Contractors and Other Wiring Installation Contractors: 2 loans
- Shoe Retailers: 1 loan
- All Other Personal Services: 1 loan
- Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers: 1 loan
Top states
- Minnesota: 11 loans
- North Dakota: 6 loans
- Arizona: 5 loans
- Wisconsin: 2 loans
- California: 1 loan
Largest deals
- Swingen Construction Company, Grand Forks, ND: $5,000,000 (7(a) acquisition, Apr 25, 2025)
- State Supply Co., Inc., Minneapolis, MN: $4,525,000 (7(a) acquisition, Sep 8, 2025)
- Desert Gardens ED LLC, Phoenix, AZ: $3,435,000 (7(a) acquisition, Aug 26, 2025)
- MDS Operations, Inc., Fargo, ND: $2,864,000 (7(a) acquisition, Jan 8, 2026)
- TMStroh, LLC, Northwood, ND: $2,591,200 (7(a) acquisition, Jul 25, 2024)
Lender details come from the SBA loan files and the FDIC BankFind service. Counts cover loans on this site only.
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