The real lending record — every figure from funded deals. HQ: 401 Demers Ave, Grand Forks, ND. 27 branches.
221
Recent deals (FY20+)
$500K
Typical deal
13 days
Approval → funding
0.7%
Failure rate (FY20–23)
Where Alerus Financial, National Association lends
Deal profile
Most Alerus Financial, National Association deals land between $265K and $1.1M — that range covers half of everything they fund. Top industries and states:
Industries they fund most
1.Gasoline Stations with Convenience Stores (13)
2.Beauty Salons (11)
3.Limited-Service Restaurants (11)
4.Assisted Living Facilities for the Elderly (9)
5.Other Personal Care Services (6)
6.All Other Professional, Scientific, and Technical Services (5)
Can Alerus Financial, National Association fund you? The bank behind the loans
Total assets
$5.3B
▲ 1.3% vs prior quarter
Deposits on hand
$4.4B
▲ 3.6% vs prior quarter
Loans outstanding
$4.0B
▲ 0% vs prior quarter
Net income (latest qtr)
$23.8M
•SBA is a sideline here — this year's production is a rounding error against the loan book. Your deal competes with everything else they'd rather fund; a specialist bank will usually move faster. That makes Alerus Financial, National Association more SBA-focused than 54% of the banks on our record.
•Deposits grew last quarter — more raw lending capacity than the quarter before.
•Return on assets of 1.81% — above the ~1% mark generally considered strong for a bank. How any of this translates to your rate is a question for the loan officer — pricing is set deal by deal.
FDIC call-report data, quarter ending 03/2026.
Free · No obligation · Usually same-day
Get in touch with Alerus Financial, National Association
Tell us where to reach you and we'll arrange the introduction — to Alerus Financial, National Association or a comparable SBA specialist who fits your deal even better.
Walk into a Alerus Financial, National Association branch (27)
Alerus Financial, National AssociationMain office401 Demers AveGrand Forks, ND 58201 · since 1933
7 Albert Lea Branch143 W Clark StAlbert Lea, MN 56007 · since 1887
9 Marshalltown Branch303 W Main StMarshalltown, IA 50158 · since 1908
Northwood Branch503 Washington AveNorthwood, ND 58267 · since 1931
2 Austin Branch201 W Oakland AveAustin, MN 55912 · since 1934
5 La Crescent Branch208 S Walnut StLa Crescent, MN 55947 · since 1934
West Fargo Branch110 Sheyenne StWest Fargo, ND 58078 · since 1979 · limited service
Kasson Branch502 S Mantorville AveKasson, MN 55944 · since 1984 · limited service
South Branch2300 S Columbia RdGrand Forks, ND 58201 · since 1989
Scroll for all 27 branches · Branch data: FDIC BankFind.
Estimates only — not guaranteed accurate. The loan amount, rate,and term come from the public record; the rest assumes the standard 10% buyer injection plus typical guaranty and closing costs. The actual deal's terms and costs likely differed.
1 of Alerus Financial, National Association's loans on record were charged off — the lender gave up collecting, which usually means the business failed. Each links to its full record.
DealRoom analysis of public lending records, FY2020–present. Not affiliated with Alerus Financial, National Association.
AI summary
Alerus Financial, National Association is an SBA lender tracked by DealRoom.so SBA Intelligence, with lending activity broken down by state, industry, and loan size from public records. DealRoom is not a lender.
Source: DealRoom.so SBA Intelligence, based on public SBA, lender, franchise, FDIC, and related records. DealRoom is not a lender and does not guarantee financing.
Find the bank most likely to fund your deal
Alerus Financial, National Association is one of 1,000+ SBA lenders on record — and they all have different appetites. Tell us your deal size, industry, and location, and we'll point you to the banks that fund deals like yours.
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Perspire Sauna Studio
2 deals
Broadway Branch
15 Broadway N
Fargo, ND 58102 · since 1991
Alerus National Association Branch10900 Wayzata Boulevard, Suite 900Minnetonka, MN 55305 · since 1994
Excelsior Branch409 2nd StExcelsior, MN 55331 · since 1996
1 Spring Valley Branch715 N Broadway StSpring Valley, MN 55975 · since 1998
Prosperan Bank Branch990 Helena Ave NOakdale, MN 55128 · since 1999
Scottsdale Road Branch17045 N Scottsdale RdScottsdale, AZ 85255 · since 2003
Beacon Bank, Eden Prairie Office7890 Mitchell RdEden Prairie, MN 55344 · since 2004
Offices of Mental Health Practitioners (except Physicians)
If you were the buyer here
Est. deal size
$1.3M
Est. down payment (10%)
$134K
Est. cash at closing
$184K
Monthly payment
$14,841
Annual debt service
$178K
Cash flow needed (1.25×)
$223K
Estimates only — not guaranteed accurate. The loan amount, rate,and term come from the public record; the rest assumes the standard 10% buyer injection plus typical guaranty and closing costs. The actual deal's terms and costs likely differed.
Apparel Accessories and Other Apparel Manufacturing
If you were the buyer here
Est. deal size
$856K
Est. down payment (10%)
$86K
Est. cash at closing
$117K
Monthly payment
$9,444
Annual debt service
$113K
Cash flow needed (1.25×)
$142K
Estimates only — not guaranteed accurate. The loan amount, rate,and term come from the public record; the rest assumes the standard 10% buyer injection plus typical guaranty and closing costs. The actual deal's terms and costs likely differed.
Estimates only — not guaranteed accurate. The loan amount, rate,and term come from the public record; the rest assumes the standard 10% buyer injection plus typical guaranty and closing costs. The actual deal's terms and costs likely differed.
Plastics Packaging Film and Sheet (including Laminated) Manu
If you were the buyer here
Est. deal size
$563K
Est. down payment (10%)
$56K
Est. cash at closing
$75K
Monthly payment
$6,354
Annual debt service
$76K
Cash flow needed (1.25×)
$95K
Estimates only — not guaranteed accurate. The loan amount, rate,and term come from the public record; the rest assumes the standard 10% buyer injection plus typical guaranty and closing costs. The actual deal's terms and costs likely differed.