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SBA 7(a) record
Merchants Bank, National Association: SBA 7(a) loans made
Merchants Bank, National Association, a bank based in Winona, MN, made 32 SBA 7(a) loans in the 36 months ending September 30, 2026, $10M in all, net of cancelled approvals. The typical loan was about $100K, and 9 were in the last 12 months. Most were in Minnesota.
- Evidence
- SBA 7(a) loans in the 36 months ending September 30, 2026, SBA
- Data as of
- SBA, September 30, 2026
- Page last changed
- November 9, 2026
- Loans, 36 months
- 32
- SBA FOIA,
- Net of cancelled approvals
- Dollars
- $9.96M
- SBA FOIA,
- Rounded amounts
- Typical loan
- $100K
- SBA FOIA,
- Largest loan
- $2.8M
- SBA FOIA,
- Rounded to 2 significant figures
- Last 12 months
- 9
- SBA FOIA,
Cite this
Source: The Lender Report, Merchants Bank, National Association: SBA 7(a) loans made, https://lender.report/lender/merchants-bank-mn/sba-7a/, data as of September 30, 2026.
The loans, newest first
Banks report no loan-level data for office, retail, industrial or construction loans. This list shows only multifamily and SBA loans.
| Period | Place | Loan | Amount | Rate | Term | LTV | Source |
|---|---|---|---|---|---|---|---|
| Sep 2026 | Minnesota | SBA 7(a), Construction | $320K | 8.75% | 10 yr | SBA FOIA | |
| Aug 2026 | Minnesota | SBA 7(a), Other Personal and Household Goods Repair and Maintenance | $680K | 6.75% | 25 yr | SBA FOIA | |
| Aug 2026 | Minnesota | SBA 7(a), Other Personal and Household Goods Repair and Maintenance | $50K | 6.75% | 1 yr | SBA FOIA | |
| Jun 2026 | Minnesota | SBA 7(a), Electronics and Appliance Retailers | $550K | 7% | 10 yr | SBA FOIA | |
| Feb 2026 | Minnesota | SBA 7(a), Other Grocery and Related Products Merchant Wholesalers | $38K | 8.75% | 7 yr | SBA FOIA | |
| Jan 2026 | Minnesota | SBA 7(a), Offices of Chiropractors | $880K | 9% | 10 yr | SBA FOIA | |
| Jan 2026 | Wisconsin | SBA 7(a), All Other Personal Services | $38K | 8% | 5 yr | SBA FOIA | |
| Jan 2026 | Wisconsin | SBA 7(a), All Other Personal Services | $12K | 8.25% | 10 yr | SBA FOIA | |
| Nov 2025 | Wisconsin | SBA 7(a), Specialized Automotive Repair | $420K | 7.75% | 10 yr | SBA FOIA | |
| Aug 2025 | Wisconsin | SBA 7(a), Gift, Novelty, and Souvenir Retailers | $70K | 8.75% | 7 yr | SBA FOIA | |
| Mar 2025 | Minnesota | SBA 7(a), Offices of Certified Public Accountants | $100K | 9.5% | 4 yr | SBA FOIA | |
| Feb 2025 | Minnesota | SBA 7(a), Limited-Service Restaurants | $430K | 7.5% | 10 yr | SBA FOIA | |
| Feb 2025 | Minnesota | SBA 7(a), Roofing Contractors | $270K | 8.5% | 10 yr | SBA FOIA | |
| Feb 2025 | Wisconsin | SBA 7(a), All Other Specialty Trade Contractors | $250K | 8.5% | 10 yr | SBA FOIA | |
| Feb 2025 | Minnesota | SBA 7(a), Roofing Contractors | $20K | 9.5% | 10 yr | SBA FOIA | |
| Jan 2025 | Wisconsin | SBA 7(a), Wholesale Trade | $100K | 7.5% | 10 yr | SBA FOIA | |
| Oct 2024 | Minnesota | SBA 7(a), Information | $100K | 8.5% | 10 yr | SBA FOIA | |
| Sep 2024 | Minnesota | SBA 7(a), Limited-Service Restaurants | $780K | 8.5% | 10 yr | SBA FOIA | |
| Aug 2024 | Minnesota | SBA 7(a), Plumbing, Heating, and Air-Conditioning Contractors | $2.8M | 9.75% | 10 yr | SBA FOIA | |
| Jul 2024 | Minnesota | SBA 7(a), Clothing and Clothing Accessories Retailers | $480K | 8.5% | 10 yr | SBA FOIA | |
| Jul 2024 | Wisconsin | SBA 7(a), Snack and Nonalcoholic Beverage Bars | $74K | 8.75% | 10 yr | SBA FOIA | |
| Jul 2024 | Minnesota | SBA 7(a), Clothing and Clothing Accessories Retailers | $50K | 9% | 10 yr | SBA FOIA | |
| Jun 2024 | Minnesota | SBA 7(a), Clothing and Clothing Accessories Retailers | $54K | 9% | 7 yr | SBA FOIA | |
| May 2024 | Wisconsin | SBA 7(a), Breweries | $200K | 8.5% | 9 yr | SBA FOIA | |
| Apr 2024 | Wisconsin | SBA 7(a), Full-Service Restaurants | $100K | 9% | 10 yr | SBA FOIA | |
| 32 SBA 7(a) loans since October 2023, net of cancelled | $9.96M | SBA FOIA | |||||
A blank means the source did not report it.
| State | Loans | Dollars |
|---|---|---|
| Minnesota | 22 | $8.64M |
| Wisconsin | 10 | $1.31M |
SBA loans are on record by state only.
| Loan size | Loans | Dollars |
|---|---|---|
| Under $150K | 18 | $1.14M |
| $150K to $350K | 5 | $1.34M |
| $350K to $1M | 8 | $4.68M |
| $1M to $2.5M | 0 | $0 |
| $2.5M or more | 1 | $2.80M |
| Quarter | Loans | Dollars |
|---|---|---|
| 2023 Q4 | 3 | $453K |
| 2024 Q1 | 3 | $585K |
| 2024 Q2 | 4 | $405K |
| 2024 Q3 | 5 | $4.18M |
| 2024 Q4 | 1 | $100K |
| 2025 Q1 | 6 | $1.17M |
| 2025 Q3 | 1 | $70.0K |
| 2025 Q4 | 1 | $420K |
| 2026 Q1 | 4 | $968K |
| 2026 Q2 | 1 | $550K |
| 2026 Q3 | 3 | $1.05M |
Calendar quarters of the SBA approval date. The first and last may cover part of a quarter: the window is the 36 months ending September 30, 2026.
| Industry (NAICS) | Loans |
|---|---|
| Clothing and Clothing Accessories Retailers (458110) | 3 |
| All Other Personal Services (812990) | 2 |
| Limited-Service Restaurants (722513) | 2 |
| Other Personal and Household Goods Repair and Maintenance (811490) | 2 |
| Roofing Contractors (238160) | 2 |
| Site Preparation Contractors (238910) | 2 |
| Specialized Freight (except Used Goods) Trucking, Local (484220) | 2 |
| All Other Specialty Trade Contractors (238990) | 1 |
| Breweries (312120) | 1 |
| Construction | 1 |
| Electronics and Appliance Retailers (449210) | 1 |
| Fitness and Recreational Sports Centers (713940) | 1 |
A 6-digit code is printed only where the SBA file holds 5 or more loans of the program in that state; the rest show as their 2-digit sector.
| Processing method | Loans |
|---|---|
| Preferred Lenders Program | 18 |
| SBA Express Program | 13 |
| 7a General | 1 |
- Merchants Bank, National Association made 32 SBA 7(a) loans totaling $10M in the 36 months ending September 30, 2026, net of cancelled approvals, in 2 states. SBA FOIA,
- 9 of them were in the 12 months to September 30, 2026, and 8 in the 12 months before. SBA FOIA,
- The typical loan was about $100K, with the middle half between $54K and $430K. SBA FOIA,
- The largest was about $2.8M. Every amount is rounded to 2 significant figures. SBA FOIA,
- 18 loans were under $150K, and 1 was $1M or more. SBA FOIA,
- The SBA file shows a median initial rate of 8.75% on 32 loans, with the middle half between 8.25% and 9.00%. SBA FOIA,
- The median term was 10 years. SBA FOIA,
- Its loans went most often to Clothing and Clothing Accessories Retailers, with 3. SBA FOIA,
- The SBA file lists 18 of its loans as processed under Preferred Lenders Program. SBA FOIA,
- Its loans were most often in Minnesota (22) and Wisconsin (10). SBA FOIA,
What we don't know
- Whether Merchants Bank, National Association is taking new SBA 7(a) loans today, or how it would treat a business like yours.
- Loans that were never completed. The SBA file lists approvals, and this page leaves out the ones it marks cancelled.
- The borrower, the address and every term beyond rate and term. The public file does not show them.
SBA loans are on record by state only. Amounts are rounded to 2 significant figures and dates to the month. A 6-digit industry code is printed only where the SBA file holds 5 or more loans of the program in that state.
Loans are SBA approvals, net of cancelled approvals.
SBA does not require you to use an agent or broker for a loan application. SBA has not reviewed or endorsed this site.
Source and date appear beside each figure. Banks report balances, not loans made. Loans made come only from HMDA and SBA files. We do not audit filings and can make errors joining them. Report a problem
Figures come from public records and show the source and date beside them. Public records can be late, incomplete or wrong. A past loan does not mean a lender will make the same kind of loan today. Confirm anything important with the lender.