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Northwoods Bank of Minnesota

PARK RAPIDS, MN 56470

3
Loans Approved
$1.4M
Total Volume
$453K
Avg Loan Size
1
States Served

States Served

Minnesota

Top Industries Financed

  • General Line Grocery Merchant Wholesalers
  • Specialized Freight (except Used Goods) Trucking, Long-Distance
  • Radio Networks

Quick Summary

Northwoods Bank of Minnesota is an SBA-approved lender headquartered in PARK RAPIDS, Minnesota. Since 2020, they have approved 3 SBA 7(a) loans totaling $1.4M, with an average loan size of $453K. They primarily serve Minnesota businesses.

About Northwoods Bank of Minnesota

Northwoods Bank of Minnesota is an SBA-approved lender headquartered in PARK RAPIDS, Minnesota. Since 2020, they have approved 3 SBA 7(a) loans totaling $1.4M, with an average loan size of $453K. They primarily serve businesses in Minnesota.

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Helpful SBA Borrower Guides

SBA 7(a) RequirementsDocuments ChecklistHow to Choose a Lender

Frequently Asked Questions

Is Northwoods Bank of Minnesota an SBA Preferred Lender?

Northwoods Bank of Minnesota 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 Northwoods Bank of Minnesota approved?

According to SBA FOIA public records, Northwoods Bank of Minnesota has approved 3 SBA 7(a) loans totaling $1.4M since 2020. Their average loan size is $453K.

What states does Northwoods Bank of Minnesota serve?

Northwoods Bank of Minnesota primarily serves businesses in Minnesota.

How do I apply for an SBA loan with Northwoods Bank of Minnesota?

To apply for an SBA 7(a) loan with Northwoods Bank of Minnesota, 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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