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Alerus Financial, National Association

GRAND FORKS, ND 58201

⭐ SBA Preferred Lender
214
Loans Approved
$183.7M
Total Volume
$859K
Avg Loan Size
10
States Served

States Served

ArizonaCaliforniaColoradoIowaIllinoisMinnesotaNorth DakotaTennesseeUtahWisconsin

Top Industries Financed

  • Beauty Salons
  • Limited-Service Restaurants
  • Gasoline Stations with Convenience Stores
  • Homes for the Elderly
  • Other Personal Care Services

Quick Summary

Alerus Financial, National Association is an SBA-approved lender headquartered in GRAND FORKS, North Dakota. They are an SBA Preferred Lender, meaning they can approve loans without prior SBA review. Since 2020, they have approved 214 SBA 7(a) loans totaling $183.7M, with an average loan size of $859K. They serve businesses across 10 states.

About Alerus Financial, National Association

Alerus Financial, National Association is an SBA-approved lender headquartered in GRAND FORKS, North Dakota. Since 2020, they have approved 214 SBA 7(a) loans totaling $183.7M, with an average loan size of $859K. As an SBA Preferred Lender, they have delegated authority to approve SBA loans without prior SBA review, resulting in faster processing times. They serve businesses across 10 states.

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Helpful SBA Borrower Guides

SBA 7(a) RequirementsDocuments ChecklistHow to Choose a Lender

Frequently Asked Questions

Is Alerus Financial, National Association an SBA Preferred Lender?

Yes, Alerus Financial, National Association is an SBA Preferred Lender (PLP). This means they have delegated authority from the SBA to approve loans without prior SBA review, resulting in faster approvals — typically 7–10 business days instead of 4–6 weeks.

How many SBA loans has Alerus Financial, National Association approved?

According to SBA FOIA public records, Alerus Financial, National Association has approved 214 SBA 7(a) loans totaling $183.7M since 2020. Their average loan size is $859K.

What states does Alerus Financial, National Association serve?

Alerus Financial, National Association serves businesses in 10 states: Arizona, California, Colorado, Iowa, Illinois, Minnesota, North Dakota, Tennessee, Utah, Wisconsin.

How do I apply for an SBA loan with Alerus Financial, National Association?

To apply for an SBA 7(a) loan with Alerus Financial, National Association, contact them directly through the form on this page. Before applying, check your FICO SBSS score (the SBA's pre-screening score) and have your financial statements, business plan, and tax returns ready. Most SBA lenders require 2+ years in business, $100K+ annual revenue, and a personal credit score of 640+.

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SBA 7(a) loans up to $5M · Rates from 10.5% · As fast as 7 days