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Luminate Bank

Minneapolis, MN 55405

118
Loans Approved
$91.7M
Total Volume
$777K
Avg Loan Size
33
States Served

States Served

ArizonaCaliforniaColoradoFloridaGeorgiaHawaiiIowaIdahoIllinoisIndianaKansasKentuckyMarylandMichiganMinnesotaMissouriMississippiNorth CarolinaNorth DakotaNew JerseyNew YorkOhioOklahomaOregonPennsylvaniaSouth CarolinaTennesseeTexasUtahVirginiaWashingtonWisconsinWyoming

Top Industries Financed

  • Limited-Service Restaurants
  • Snack and Nonalcoholic Beverage Bars
  • Nail Salons
  • Pet Care (except Veterinary) Services
  • Breweries

Quick Summary

Luminate Bank is an SBA-approved lender headquartered in Minneapolis, Minnesota. Since 2020, they have approved 118 SBA 7(a) loans totaling $91.7M, with an average loan size of $777K. They serve businesses across 33 states.

About Luminate Bank

Luminate Bank is an SBA-approved lender headquartered in Minneapolis, Minnesota. Since 2020, they have approved 118 SBA 7(a) loans totaling $91.7M, with an average loan size of $777K. They serve businesses across 33 states.

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Helpful SBA Borrower Guides

SBA 7(a) RequirementsDocuments ChecklistHow to Choose a Lender

Frequently Asked Questions

Is Luminate Bank an SBA Preferred Lender?

Luminate Bank 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 Luminate Bank approved?

According to SBA FOIA public records, Luminate Bank has approved 118 SBA 7(a) loans totaling $91.7M since 2020. Their average loan size is $777K.

What states does Luminate Bank serve?

Luminate Bank serves businesses in 33 states: Arizona, California, Colorado, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Maryland, Michigan, Minnesota, Missouri, Mississippi, North Carolina, North Dakota, New Jersey, New York, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, Wyoming.

How do I apply for an SBA loan with Luminate Bank?

To apply for an SBA 7(a) loan with Luminate Bank, 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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