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BankStar Financial

Elkton, SD 57026

3
Loans Approved
$879K
Total Volume
$293K
Avg Loan Size
2
States Served

States Served

MinnesotaSouth Dakota

Top Industries Financed

  • Full-Service Restaurants
  • Beauty Salons
  • Soil Preparation, Planting, and Cultivating

Quick Summary

BankStar Financial is an SBA-approved lender headquartered in Elkton, South Dakota. Since 2020, they have approved 3 SBA 7(a) loans totaling $879K, with an average loan size of $293K. They serve businesses across 2 states.

About BankStar Financial

BankStar Financial is an SBA-approved lender headquartered in Elkton, South Dakota. Since 2020, they have approved 3 SBA 7(a) loans totaling $879K, with an average loan size of $293K. They serve businesses across 2 states.

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Helpful SBA Borrower Guides

SBA 7(a) RequirementsDocuments ChecklistHow to Choose a Lender

Frequently Asked Questions

Is BankStar Financial an SBA Preferred Lender?

BankStar Financial is an SBA-approved lender but does not currently hold Preferred Lender (PLP) status. Loan approvals require standard SBA review, which typically adds 2–4 weeks to the process.

How many SBA loans has BankStar Financial approved?

According to SBA FOIA public records, BankStar Financial has approved 3 SBA 7(a) loans totaling $879K since 2020. Their average loan size is $293K.

What states does BankStar Financial serve?

BankStar Financial serves businesses in 2 states: Minnesota, South Dakota.

How do I apply for an SBA loan with BankStar Financial?

To apply for an SBA 7(a) loan with BankStar Financial, contact them directly through the form on this page. Before applying, check your FICO SBSS score (the SBA's pre-screening score) and have your financial statements, business plan, and tax returns ready. Most SBA lenders require 2+ years in business, $100K+ annual revenue, and a personal credit score of 640+.

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