Alerus Financial approved 147 SBA loans worth $132.4M between October 2021 and June 2026, ranking #272 of 2,283 SBA lenders nationally by loan count. Its median loan was $500,000, and 31% went to startups or businesses under two years old. It lent in 9 states, most often in Arizona, and its most financed industry was other services (repair, personal care).
| State | Loans | Approved | Median loan | Rank in state |
|---|---|---|---|---|
| Arizona | 54 | $45.3M | $500,000 | #31 |
| Minnesota | 54 | $44.7M | $428,750 | #35 |
| North Dakota | 18 | $25.8M | $1,042,100 | #11 |
| Wisconsin | 9 | $11.2M | $1,130,000 | #82 |
| Utah | 5 | $2.4M | $296,000 | #59 |
| Iowa | 2 | $441K | $220,500 | #126 |
| Colorado | 2 | $1.3M | $651,500 | #178 |
| California | 2 | $870K | $435,000 | #257 |
| Tennessee | 1 | $325K | $325,000 | #212 |
| Industry | Loans | Share | Median loan |
|---|---|---|---|
| Other services (repair, personal care) | 24 | $373,500 | |
| Retail | 20 | $637,000 | |
| Health care and social assistance | 19 | $398,000 | |
| Restaurants and hotels | 18 | $729,600 | |
| Construction | 13 | $900,000 | |
| Wholesale trade | 12 | $831,500 | |
| Professional and technical services | 10 | $417,300 | |
| Manufacturing | 8 | $1,103,300 | |
| Arts, entertainment and recreation | 5 | $500,000 | |
| Administrative and support services | 4 | $200,000 |