States Served
Top Industries Financed
- Fitness and Recreational Sports Centers
- Other Personal Care Services
- Full-Service Restaurants
- Limited-Service Restaurants
- All Other Professional, Scientific, and Technical Services
Quick Summary
Platinum Bank is an SBA-approved lender headquartered in OAKDALE, Minnesota. They are an SBA Preferred Lender, meaning they can approve loans without prior SBA review. Since 2020, they have approved 358 SBA 7(a) loans totaling $300.8M, with an average loan size of $840K. They serve businesses across 28 states.
About Platinum Bank
Platinum Bank is an SBA-approved lender headquartered in OAKDALE, Minnesota. Since 2020, they have approved 358 SBA 7(a) loans totaling $300.8M, with an average loan size of $840K. 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 28 states.
Before you apply — know where you stand
Nav is the only place where you can track your FICO SBSS score — the score the SBA uses to determine loan eligibility.
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Frequently Asked Questions
Is Platinum Bank an SBA Preferred Lender?
Yes, Platinum Bank 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 Platinum Bank approved?
According to SBA FOIA public records, Platinum Bank has approved 358 SBA 7(a) loans totaling $300.8M since 2020. Their average loan size is $840K.
What states does Platinum Bank serve?
Platinum Bank serves businesses in 28 states: Arizona, California, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Maryland, Michigan, Minnesota, Montana, North Carolina, North Dakota, New Hampshire, New Jersey, Nevada, Ohio, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin.
How do I apply for an SBA loan with Platinum Bank?
To apply for an SBA 7(a) loan with Platinum 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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