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Alerus Financial is a financial services provider offering personal, business, and wealth management solutions across banking, mortgages, lending, investment services, and retirement solutions. Headquartered in Grand Forks, North Dakota, with locations throughout the Upper Midwest and Southwest United States.
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SBA 7(a) Acquisition Loan Data As Of March 31, 2026
Last 12 Months
Last 3 Years
YoY Growth
stable
As Of March 31, 2026
Median
$994K
Average
$1.5M
Sweet Spot
$500K-$1M
Industries with highest loan volume
Automobile Driving Schools
5
loans
$85K
avg. amount
Automobile Driving Schools
Loans
5
Avg. Amount
$85K
Electrical Contractors and Other Wiring Installation Contractors
4
loans
$947K
avg. amount
Electrical Contractors and Other Wiring Installation Contractors
Loans
4
Avg. Amount
$947K
Locksmiths
3
loans
$1.0M
avg. amount
Locksmiths
Loans
3
Avg. Amount
$1.0M
Highway, Street, and Bridge Construction
3
loans
$5.0M
avg. amount
Highway, Street, and Bridge Construction
Loans
3
Avg. Amount
$5.0M
Assisted Living Facilities for the Elderly
2
loans
$3.4M
avg. amount
Assisted Living Facilities for the Elderly
Loans
2
Avg. Amount
$3.4M
Fabricated Structural Metal Manufacturing
2
loans
$983K
avg. amount
Fabricated Structural Metal Manufacturing
Loans
2
Avg. Amount
$983K
Other Accounting Services
2
loans
$411K
avg. amount
Other Accounting Services
Loans
2
Avg. Amount
$411K
Other Chemical and Allied Products Merchant Wholesalers
2
loans
$1.0M
avg. amount
Other Chemical and Allied Products Merchant Wholesalers
Loans
2
Avg. Amount
$1.0M
Pet and Pet Supplies Retailers
1
loans
$674K
avg. amount
Pet and Pet Supplies Retailers
Loans
1
Avg. Amount
$674K
Hardware Retailers
1
loans
$1.3M
avg. amount
Hardware Retailers
Loans
1
Avg. Amount
$1.3M
10-Year Default Rate
1.3%
Percentile Ranking
87th
87th percentile
This Lender
Market Average
| Loan Size | Avg Rate |
|---|---|
| $0-$500K | Prime + 2.25% |
| $500K-$1M | Prime + 1.60% |
| $1M-$2M | Prime + 1.13% |
| $2M-$3M | Prime + 2.25% |
| $3M-$4M | Prime + 0.25% |
Spread over Prime at time of loan origination
As Of March 31, 2026 - States by loan volume (darker blue = higher volume)
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