Heritage Bank, National Association
SBA lender based in Minnesota serving 4 states and 47 industries
Is Heritage Bank, National Association the right SBA lender for your deal?
Heritage Bank, National Association has funded 284 SBA loans across 4 states and 47 industries. Their average loan size is $279K. Whether they are the right SBA lender for your deal depends on size, industry, geography, and credit profile. Historical volume is not a quote. PeerSense does not speak for Heritage Bank, National Association.
Heritage Bank, National Association is an SBA Preferred Lender (PLP), a designation the SBA grants to lenders with delegated authority to approve 7(a) loans in house, which speeds underwriting and closing. Heritage Bank, National Association has funded 284 SBA 7(a) loans across 4 states, averaging $279K per loan. PLP status means the lender does not have to send each file to the SBA for review, a material edge on turnaround for qualified borrowers.
- Main office
- 110 W South St, Spicer, MN 56288
- Domestic offices
- 5
- Established
- 1964
- FDIC certificate
- 19254
- Website
- www.heritagebankna.com
Source: FDIC BankFind public database, checked October 1, 2026.
Top Lending States
Talk to PeerSense. The lender underwrites the file.
Talk to PeerSenseFOIA history for Heritage Bank, National Association
FOIA history for Heritage Bank, National Association: 284 SBA loans across 4 states, average size $279K. Highest volume NAICS in the tape: Sporting Goods & Hobby. Highest volume state in the tape: Minnesota. Resolved loan charge off rate: 6.4%. That is history, not a buy box and not a prediction they will fund your file. Talk to PeerSense.
Recent SBA Activity at Heritage Bank, National Association
Franchise lending: Heritage Bank, National Association has funded SBA loans for multiple franchise concepts, with the highest volume in CULLIGAN SOFT WATER SERVICE, CHESAPEAKE BAGEL BAKERY, and ACE CASH EXPRESS. Lender franchise familiarity reduces underwriting friction: brands the lender already knows clear faster and re trade less.
Industry concentration: The lender's highest volume SBA industries are Sporting Goods & Hobby, Electronics & Appliance Stores, and Miscellaneous Retail. Borrowers in these NAICS sectors typically see better terms and faster approvals.
Geographic concentration: Top markets are Minnesota, and Iowa. Lenders typically underwrite faster in states where they already have closing comps.
Compare Heritage Bank, National Association to Similar SBA Lenders
Other SBA lenders headquartered in Minnesota with similar deal size profiles. Borrowers should always compare 3 to 5 lenders before committing.
Looking for SBA Financing?
Talk to PeerSense. The lender underwrites the file. Size, industry, and location come from the public tape. PeerSense sources capital through a curated network of commercial lenders and capital sources.
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About Heritage Bank, National Association SBA Lending
Heritage Bank, National Association is an SBA lender headquartered in Minnesota. PeerSense tracks this lender's SBA lending activity, including approval trends, geographic coverage, and industry specializations.
Heritage Bank, National Association serves borrowers across 4 states and 47 industry sectors with a regional lending focus. To find out whether Heritage Bank, National Association is a fit for your deal, Talk to PeerSense.
PeerSense maintains detailed performance data on hundreds of SBA lenders to help borrowers and brokers identify the right capital source. Rather than spending weeks researching lenders on your own, Talk to PeerSense The desk sources capital from lenders with a record in your industry and geography.
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See Related Rates by Program
PeerSense covers the full commercial capital stack. These are indicative levels direct capital sources have been pricing across these programs as of October 1, 2026.
Desk Record
150 files.See 150 files received over 12 months to October 28, 2026, with outcomes by lane from terms through approval or funding.
Originator warehouse
$100M a monthFocus $100 million a month. Will look at $10 million a month. $10 million is not the focus.
Invoice Factoring
0.5 to 3.5% / 30dB2B invoices from $20 million a month. Advance 80 to 95 percent of face.
CMBS Conduit
5.60 to 7.10%10 year Non Recourse fixed, $10 million and up, fully assumable
Bridge Loans
9.00 to 14.00%$10 million and up. Cash in about 35 percent. Name the takeout first.
Data Center
CRS to 89%$1 billion to $30 billion plus. Signed or guaranteed hyperscaler lease.
Contracted revenue sale
Up to 89%15 year lease signed or guaranteed by a hyperscaler. Size follows the lease.
Hotel Financing
SearchHotel financing is search only for $10 million and up, with cash in about 35 percent.
Private Credit
7.80 to 18.00%Non bank flexibility for commercial real estate at $10 million and up.
Indicative only, as of October 1, 2026. Not a quote, commitment or offer of credit. Final pricing, leverage and terms are determined by the lender at underwriting, after full transaction materials are reviewed. PeerSense sources the file. The lender sets pricing. What these terms mean.