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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.
Provider names, logos, and trademarks displayed on this page belong to their respective owners and are used for identification purposes only. VerSquare is not affiliated with, endorsed by, or sponsored by Alerus Financial, National Association unless otherwise indicated.
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SBA 7(a) Acquisition Loan Data As Of March 31, 2026
Last 12 Months
Last 3 Years
YoY Growth
low activity
As Of March 31, 2026
Median
$994K
Average
$1.5M
Sweet Spot
$500K-$1M
Industries with highest loan volume
Other Chemical and Allied Products Merchant Wholesalers
2
loans
$1.0M
avg. amount
Other Chemical and Allied Products Merchant Wholesalers
2
loans
$1.0M
avg
Electrical Contractors and Other Wiring Installation Contractors
2
loans
$947K
avg. amount
Electrical Contractors and Other Wiring Installation Contractors
2
loans
$947K
avg
Pet and Pet Supplies Retailers
1
loans
$674K
avg. amount
Pet and Pet Supplies Retailers
1
loans
$674K
avg
Car Washes
1
loans
$723K
avg. amount
Car Washes
1
loans
$723K
avg
All Other Home Furnishings Retailers
1
loans
$980K
avg. amount
All Other Home Furnishings Retailers
1
loans
$980K
avg
Specialized Automotive Repair
1
loans
$2.9M
avg. amount
Specialized Automotive Repair
1
loans
$2.9M
avg
Other Accounting Services
1
loans
$411K
avg. amount
Other Accounting Services
1
loans
$411K
avg
Full-Service Restaurants
1
loans
$2.5M
avg. amount
Full-Service Restaurants
1
loans
$2.5M
avg
Beer, Wine, and Liquor Retailers
1
loans
$2.4M
avg. amount
Beer, Wine, and Liquor Retailers
1
loans
$2.4M
avg
Fabricated Structural Metal Manufacturing
1
loans
$983K
avg. amount
Fabricated Structural Metal Manufacturing
1
loans
$983K
avg
10-Year Default Rate
1.7%
Percentile Ranking
87th
87th percentile
| Loan Size | Avg Rate |
|---|---|
| $0-$500K | Prime + 2.25% |
| $500K-$1M | Prime + 1.63% |
| $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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