SBA 7(a) loans in Minnesota
Source: U.S. Small Business Administration, 7(a) & 504 FOIA loan data [source] · File as of September 30, 2026 · Loans approved in federal fiscal years 2024–2026 (Oct 2023 – Sept 2026) · Imported November 4, 2026
3,833loans approved
$167,500median loan
$50K–$500Kmiddle half of loans
$1.8Btotal approved
10%median initial rate
10 yrsmedian term
The median Minnesota loan is 4% smaller than the national median of $175,000.
Loan sizes
Top industries
| Industry (NAICS) | Loans | Median |
|---|---|---|
| Full-Service Restaurants (722511) | 146 | $222,950 |
| Limited-Service Restaurants (722513) | 111 | $350,000 |
| Fitness and Recreational Sports Centers (713940) | 95 | $167,500 |
| All Other Specialty Trade Contractors (238990) | 86 | $267,200 |
| Residential Remodelers (236118) | 80 | $100,000 |
| Offices of Chiropractors (621310) | 77 | $124,200 |
| Landscaping Services (561730) | 71 | $125,000 |
| Plumbing, Heating, and Air-Conditioning Contractors (238220) | 67 | $130,000 |
| General Automotive Repair (811111) | 65 | $110,700 |
| Home Health Care Services (621610) | 62 | $225,000 |
Most active lenders in Minnesota
| Lender | Loans | Median | Total |
|---|---|---|---|
| U.S. Bank, National Association | 604 | $49,250 | $162.3M |
| The Huntington National Bank | 402 | $75,000 | $92.6M |
| Old National Bank | 178 | $428,600 | $162.1M |
| Bankvista | 170 | $250,000 | $76.5M |
| Frandsen Bank and Trust | 120 | $325,650 | $62.6M |
| Northeast Bank | 98 | $147,750 | $24.8M |
| Wells Fargo Bank National Association | 95 | $15,000 | $20.9M |
| Falcon National Bank | 89 | $400,000 | $53.0M |
| Platinum Bank | 85 | $500,000 | $75.2M |
| Bell Bank | 80 | $292,750 | $56.0M |
SBA 504 loans in Minnesota
504 loans finance real estate and major equipment through a Certified Development Company (CDC). Approved FY2024–FY2026, file as of September 30, 2026 [source].
631504 loans approved
$572,000median CDC portion
$601.7Mtotal CDC portion
What these 504 amounts cover: only the SBA-backed CDC portion of each project (typically up to 40%). A bank first loan and the borrower's down payment make up the rest, so total project costs are larger.
Most active CDCs in Minnesota
| Lender | Loans | Median | Total |
|---|---|---|---|
| Midwest Business Finance Corporation | 225 | $571,000 | $197.6M |
| Twin Cities-Metro Certified Development Company | 152 | $766,500 | $169.8M |
| Amplio Economic Development Corporation | 83 | $537,000 | $64.1M |
| Central Minnesota Development Company | 55 | $626,000 | $61.4M |
| Wbd, INC. | 45 | $542,000 | $45.7M |
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What this data does — and doesn't — tell you
- Approvals, not applications. These are loans SBA approved. The data has no denials, so it cannot tell you your odds of approval.
- Loan size is not startup cost. 7(a) loans also pay for buying existing businesses, real estate, equipment, refinancing and working capital.
- Gross approval amount. Figures are the full approved loan, including the part SBA does not guarantee. Some approved loans are later reduced or never fully disbursed.
- Industry codes are assigned at approval (NAICS) and can be imprecise — a mobile detailer may be coded as a car wash, for example.
- Medians beat averages here: a few very large loans pull averages up. We show the median and the middle half (25th–75th percentile).
- No default rates. Most recent loans are still being repaid, so charge-off rates for these years would be misleading. We don't show them.
- Cancelled loans are excluded, and any group with fewer than 10 loans is hidden. We never publish borrower names.
- Lender counts aren't a quality rating. Big national lenders make many small loans; local lenders may know your market better. Talk to several, or use SBA Lender Match.