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BankCherokee

SAINT PAUL, MN 55107

⭐ SBA Preferred Lender
93
Loans Approved
$37.5M
Total Volume
$403K
Avg Loan Size
1
States Served

States Served

Minnesota

Top Industries Financed

  • Landscaping Services
  • Full-Service Restaurants
  • Snack and Nonalcoholic Beverage Bars
  • Precision Turned Product Manufacturing
  • Limited-Service Restaurants

Quick Summary

BankCherokee is an SBA-approved lender headquartered in SAINT PAUL, Minnesota. They are an SBA Preferred Lender, meaning they can approve loans without prior SBA review. Since 2020, they have approved 93 SBA 7(a) loans totaling $37.5M, with an average loan size of $403K. They primarily serve Minnesota businesses.

About BankCherokee

BankCherokee is an SBA-approved lender headquartered in SAINT PAUL, Minnesota. Since 2020, they have approved 93 SBA 7(a) loans totaling $37.5M, with an average loan size of $403K. As an SBA Preferred Lender, they have delegated authority to approve SBA loans without prior SBA review, resulting in faster processing times. They primarily serve businesses in Minnesota.

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Helpful SBA Borrower Guides

SBA 7(a) RequirementsDocuments ChecklistHow to Choose a Lender

Frequently Asked Questions

Is BankCherokee an SBA Preferred Lender?

Yes, BankCherokee 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 BankCherokee approved?

According to SBA FOIA public records, BankCherokee has approved 93 SBA 7(a) loans totaling $37.5M since 2020. Their average loan size is $403K.

What states does BankCherokee serve?

BankCherokee primarily serves businesses in Minnesota.

How do I apply for an SBA loan with BankCherokee?

To apply for an SBA 7(a) loan with BankCherokee, 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