Drake Bank
MN
SBA-approved lender offering 7 loan programs across 7 industries.
Key Metrics
Interest Rate
8.75%
2.00% over prime
Average Loan
$721K
Per approval
Total Approvals
17
FY 2025
Loan Programs (7)
7a General
Existing or more than 2 years old
Loan Funds will Open Business
New Business or 2 years or less
Preferred Lenders Program
Change of Ownership
Fixed Rates
Industries Served (7)
All Other Amusement and Recreation IndustriesChild Day Care ServicesEngineering ServicesLimited-Service RestaurantsMedicinal and Botanical ManufacturingOffices of ChiropractorsOther Computer Related Services
Additional Details
- Prime Rate
- 6.75%
- Rate Over Prime
- 2.00%
- Effective Rate
- 8.75%
- Fiscal Year
- 2025
- States Served
- MN
- Website
- drake-bank.com
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