Alerus Financial, National Association: SBA Lending Record
What SBA's own loan files show about Alerus Financial, National Association as an SBA lender, and how a lender's record bears on a feasibility study.
Alerus Financial, National Association: loans and programs
Alerus Financial, National Association has 291 approved loans in SBA's files, $246.4 million gross, FY2017 to FY2026. All 291 loans at Alerus Financial, National Association are 7(a); 0 are 504. Alerus Financial, National Association holds or held these 291 loans, as SBA records them. SBA lists Alerus Financial, National Association with the lender state ND. The guarantee on 291 loans of Alerus Financial, National Association is SBA's alone. Counts for Alerus Financial, National Association describe records only.
Where the loans of Alerus Financial, National Association sit
The followed classes leave 182 of Alerus Financial, National Association's 291 loans uncovered. Of the classes followed, Alerus Financial, National Association reads as follows: Gas station and truck stop (18), Assisted living (without nursing care) (13), Beauty salon (13), Limited-service restaurant (12), Fitness center (7), Coffee shop and snack bar (6), Car wash (5), Hotel and motel (5), Full-service restaurant (5). For Gas station and truck stop, SBA shows 18 loans against Alerus Financial, National Association. Assisted living (without nursing care) follows with 13 loans at Alerus Financial, National Association. Beauty salon comes third at Alerus Financial, National Association, with 13 loans. Minnesota follows with 103 loans in the Alerus Financial, National Association record. Geography for Alerus Financial, National Association follows this order: Arizona (134), Minnesota (103), North Dakota (25), Wisconsin (12), Utah (6). Lender state in the file: ND, and the largest state by loans is Arizona.
Alerus Financial, National Association: cancellations and losses
For Alerus Financial, National Association approvals from FY2017 to FY2024, 6.0% are known cancelled, a floor. Loan Analytics prints no ceiling here, because the cohort is short of 30 loans, and the 6.0% floor stands alone, so the missing ceiling is not zero. Every rate for Alerus Financial, National Association is a floor, and so later write-offs within the group would raise it. For FY2017 to FY2021 disbursements the charge-off floor is held back as well, with fewer than 30 loans qualifying, and that gap does not say none were charged off.
The Alerus Financial, National Association record and a feasibility study
Gas station and truck stop at Alerus Financial, National Association starts with a demand test. Second, a study of Assisted living (without nursing care) tests development cost, with 13 such loans on Alerus Financial, National Association's record. Debt service coverage follows, and $246.4 million across 291 loans at Alerus Financial, National Association cannot settle it for a borrower. The appraisal is the last test, and 13 Beauty salon loans at Alerus Financial, National Association do not replace it. A project in Arizona can compare with 134 loans in the Alerus Financial, National Association record, and one in Minnesota, 103. Alerus Financial, National Association alone knows what it expects. Nothing promises approval, and Alerus Financial, National Association sets its own terms.
SBA loans held by Alerus Financial, National Association
SBA guarantees these loans; the lender does not. The lender's name and every figure come from the U.S. Small Business Administration's public 7(a) and 504 FOIA file (data.sba.gov).
7(a) lender is the bank or lender the loan is currently assigned to (or last held it), as SBA records it; 504 lender is the Certified Development Company (CDC). 504 third-party (first-lien) lenders are free text with no identifier and are not credited.
| Loans approved, FY2017 to FY2026 | 291 |
|---|---|
| Gross dollars approved | $246.4 million |
| SBA 7(a) loans | 291 |
| SBA 504 loans | 0 |
Cancellation and charge-off
| Cancelled after approval, FY2017 to FY2024 approvals (a floor) | 6.0% |
|---|---|
| The same, counting loans still undisbursed as cancelled (a ceiling) | withheld |
| Charged off to date, FY2017 to FY2021 disbursed loans (a floor) | withheld |
Both rates are floors. SBA withholds the status of open loans, so a loan counts as charged off only once SBA reports it; a rate needs at least 30 loans in its cohort and is otherwise not reported.
Loans by asset class
| Asset class | Loans |
|---|---|
| Not in any of the 39 asset classes | 182 |
| Gas station and truck stop | 18 |
| Assisted living (without nursing care) | 13 |
| Beauty salon | 13 |
| Limited-service restaurant | 12 |
| Fitness center | 7 |
| Coffee shop and snack bar | 6 |
| Car wash | 5 |
| Hotel and motel | 5 |
| Full-service restaurant | 5 |
Classes with 5 or more loans; smaller ones are withheld, and more where a small one could be derived.
Loans by project state
| State or area | Loans |
|---|---|
| Arizona | 134 |
| Minnesota | 103 |
| North Dakota | 25 |
| Wisconsin | 12 |
| Utah | 6 |
States with 5 or more loans; smaller ones are withheld, and more where a small one could be derived.
A value marked withheld rests on fewer than 5 loans, or is withheld so that such a figure cannot be derived from other published figures.
Source: U.S. Small Business Administration, 7(a) and 504 loan-level FOIA files (data.sba.gov), as of 2026-09-30; Loan Analytics lender cell LP-fdic-3931.
Loan Analytics prepares the feasibility study a lender reads before it commits: for a commercial project anywhere in the United States, financed under SBA 7(a), SBA 504, USDA Business and Industry or a conventional bank loan, by Alerus Financial, National Association or any other lender. Tell us the project and the lender's deadline, and we reply with scope, timeline and fee.
Request Scope & Timeline
Start with the data.
Contact Us