Alerus Financial, National Association
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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Data source: SBA 7(a) FOIA loan-level data, covering activity through June 30, 2026 across the trailing 3 years (29 loan records for this lender). Refreshed quarterly from public loan-level records; figures are not supplied or reviewed by the lender.
Alerus Financial, National Association ranks #108 of 564 SBA 7(a) lenders nationally by acquisition-loan volume.
Most of Alerus Financial, National Association’s 7(a) acquisition lending falls in the $500K-$1M range: 10 loans, 34.5% of the portfolio.
| Loan size | Share of loans | Loans | % of portfolio |
|---|---|---|---|
| $0-$500K | 5 | 17.2% | |
| $500K-$1M | 10 | 34.5% | |
| $1M-$2M | 6 | 20.7% | |
| $2M-$3M | 4 | 13.8% | |
| $3M-$4M | 2 | 6.9% | |
| $4M-$5M | 2 | 6.9% |
Industries with highest loan volume
Other Chemical and Allied Products Merchant Wholesalers
2
loans
$1.0M
avg. amount
Electrical Contractors and Other Wiring Installation Contractors
2
loans
$947K
avg. amount
Couriers and Express Delivery Services
1
loans
$1.2M
avg. amount
Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers
1
loans
$4.5M
avg. amount
Assisted Living Facilities for the Elderly
1
loans
$3.4M
avg. amount
Machine Shops
1
loans
$1.2M
avg. amount
Beer, Wine, and Liquor Retailers
1
loans
$2.4M
avg. amount
All Other Home Furnishings Retailers
1
loans
$980K
avg. amount
Fabricated Structural Metal Manufacturing
1
loans
$983K
avg. amount
Pet and Pet Supplies Retailers
1
loans
$674K
avg. amount
10-Year
1.6%
Percentile Ranking
87th
87th percentile
Alerus Financial, National Association’s median variable rate is + 1.75%, against a market median of Prime + 1.88%, 13 below market.
It priced below the market median in 2 of the last 3 quarters. 9 of the 29 loans in its trailing three-year book carried a fixed rate; the rest were variable.
| Loan Size | Avg Rate |
|---|---|
| $0-$500K | Prime + 2.25% |
| $500K-$1M | Prime + 1.61% |
| $1M-$2M | Prime + 1.20% |
| $2M-$3M | Prime + 2.25% |
| $3M-$4M | Prime + 0.25% |
over at time of loan origination
| Quarter | This lender | Market median | Market range | Loans |
|---|---|---|---|---|
| Q2 '22 | Prime + 1.50% | Prime + 2.00% | Prime + 1.50% – Prime + 2.50% | 3 |
| Q1 '24 | Prime + 1.50% | Prime + 2.00% | Prime + 1.48% – Prime + 2.50% | 3 |
| Q1 '25 | Prime + 2.50% | Prime + 2.00% | Prime + 1.25% – Prime + 2.50% | 3 |
Alerus Financial, National Association has originated 7(a) acquisition loans in 8 states, most actively in Minnesota (12), North Dakota (7) and Arizona (4). Darker states on the map carry more volume.
| State | Loans | % of Total |
|---|---|---|
| Minnesota | 12 | 41.4% |
| North Dakota | 7 | 24.1% |
| Arizona | 4 | 13.8% |
| Wisconsin | 2 | 6.9% |
| Colorado | 1 | 3.4% |
| Tennessee | 1 | 3.4% |
| California | 1 | 3.4% |
| Iowa | 1 | 3.4% |
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