SBA lender profile
Alerus Financial, National Association
Alerus Financial, National Association appears in the public SBA loan data with 221 funded 7(a) loans totaling $191.0M, an average of $864K per loan, and an estimated 3,524 jobs supported. Its SBA lending concentrates in Arizona and the Retail Trade sector. Across all of its loans in the data, its charge-off rate is 0.4%.
By Mario Bailey · Source: SBA FOIA 7(a) and 504 data, as of 2026-03-31
Funded loans
221
Total volume
$191.0M
Average loan size
$864K
Charge-off rate
0.4%
Share of funded loans charged off
Jobs supported (reported)
3,524
Programs
7(a)
Bank profile
via FDIC- Total assets
- $5.3B
- Headquarters
- Grand Forks, ND
- FDIC cert
- #3931
- Status
- Active
Where Alerus Financial, National Association lends
Top states by funded SBA volume.
| State | Loans | Total volume |
|---|---|---|
| Arizona | 93 | $80.6M |
| Minnesota | 81 | $62.8M |
| North Dakota | 23 | $28.5M |
| Wisconsin | 10 | $12.0M |
| Utah | 5 | $3.1M |
| California | 3 | $1.5M |
What Alerus Financial, National Association funds
Top industries by funded SBA volume.
| Industry | Loans | Total volume |
|---|---|---|
| Retail Trade | 40 | $29.6M |
| Accommodation and Food Services | 23 | $22.4M |
| Health Care and Social Assistance | 31 | $21.9M |
| Other Services | 31 | $20.5M |
| Manufacturing | 17 | $20.0M |
| Wholesale Trade | 11 | $19.9M |
Alerus Financial, National Association SBA lending by year
| Fiscal year | Loans | Total volume |
|---|---|---|
| 2020 | 23 | $11.6M |
| 2021 | 59 | $50.8M |
| 2022 | 34 | $32.9M |
| 2023 | 32 | $25.0M |
| 2024 | 29 | $26.5M |
| 2025 | 33 | $35.9M |
| 2026 | 11 | $8.4M |
Sources and disclaimer. All figures are computed from
the U.S. Small Business Administration's public FOIA 7(a) and 504 loan data (as of 2026-03-31),
as described in our methodology.
The charge-off rate is the share of Alerus Financial, National Association's funded loans marked charged off across all of its
loans in the data; it is not a lifetime default rate. SBA Loan Index is not affiliated with the
SBA and is not a lender, broker, or financial advisor. This is general information, not advice.
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