Luminate Bank
Headquartered in Minneapolis, MN. Analysis based on 118 SBA 7(a) loans approved between FY2020 and 2025-12-31, totaling $91.7M.
Total 7(a) loans
118
Total approved
$91.7M
Average loan
$777K
States funded in
33
Charge-off rate
0.85%
FY2020–FY2023 cohort
Paid-in-full rate
19.49%
Average rate
6.25%
Average term
150 mo
Top 10 industries financed
| NAICS | Industry | Loans |
|---|---|---|
| 722513 | Limited-Service Restaurants | 48 |
| 722515 | Snack and Nonalcoholic Beverage Bars | 28 |
| 812113 | Nail Salons | 11 |
| 812910 | Pet Care (except Veterinary) Services | 4 |
| 312120 | Breweries | 3 |
| 238910 | Site Preparation Contractors | 2 |
| 541611 | Administrative Management and General Management Consulting Services | 2 |
| 713940 | Fitness and Recreational Sports Centers | 2 |
| 722511 | Full-Service Restaurants | 2 |
| 811191 | Automotive Oil Change and Lubrication Shops | 2 |
Top 10 states
| State | Loans |
|---|---|
| MN | 23 |
| TX | 17 |
| CA | 15 |
| FL | 6 |
| GA | 5 |
| CO | 5 |
| SC | 4 |
| WA | 4 |
| NC | 4 |
| IL | 3 |
Top franchise brands financed
98 franchise loans across 25 distinct brands.
| Franchise | Loans |
|---|---|
| Dickey's Barbecue Pit | 27 |
| Scooter's Coffee | 20 |
| Prose | 11 |
| PJ's Coffee of New Orleans | 6 |
| Zoom Room | 3 |
| Crave Hot Dogs and BBQ | 3 |
| Teriyaki Madness | 3 |
| Fit Body Boot Camp | 3 |
| Buzzed Bull Creamery | 2 |
| Tropical Smoothie Cafe | 2 |
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Data source & methodology
All figures computed from the SBA Office of Capital Access FOIA dataset (7(a) loans, FY2020–present, as of 2025-12-31). Charge-off and paid-in-full rates are calculated on the FY2020–FY2023 cohort only, so loans have had time to mature. Charge-off rank covers lenders with ≥500 mature loans.