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New Market Bank

ELKO NEW MARKET, MN 55054

8
Loans Approved
$1.5M
Total Volume
$185K
Avg Loan Size
1
States Served

States Served

Minnesota

Top Industries Financed

  • Parking Lots and Garages
  • Office Administrative Services
  • Wood Kitchen Cabinet and Countertop Manufacturing
  • General Freight Trucking, Long Distance, Truckload
  • Pharmacies and Drug Stores

Quick Summary

New Market Bank is an SBA-approved lender headquartered in ELKO NEW MARKET, Minnesota. Since 2020, they have approved 8 SBA 7(a) loans totaling $1.5M, with an average loan size of $185K. They primarily serve Minnesota businesses.

About New Market Bank

New Market Bank is an SBA-approved lender headquartered in ELKO NEW MARKET, Minnesota. Since 2020, they have approved 8 SBA 7(a) loans totaling $1.5M, with an average loan size of $185K. 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 New Market Bank an SBA Preferred Lender?

New Market Bank is an SBA-approved lender but does not currently hold Preferred Lender (PLP) status. Loan approvals require standard SBA review, which typically adds 2–4 weeks to the process.

How many SBA loans has New Market Bank approved?

According to SBA FOIA public records, New Market Bank has approved 8 SBA 7(a) loans totaling $1.5M since 2020. Their average loan size is $185K.

What states does New Market Bank serve?

New Market Bank primarily serves businesses in Minnesota.

How do I apply for an SBA loan with New Market Bank?

To apply for an SBA 7(a) loan with New Market Bank, 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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