SBA by industry · MN
SBA lenders for construction trades in Minnesota
104 lenders made 604 SBA loans to construction trades in Minnesota in the 36 months ending September 30, 2026. U.S. Bank National Association made the most, with 132. The typical loan was about $150K.
- Evidence
- SBA 7(a) and 504 loans to construction trades in Minnesota, NAICS 23
- Data as of
- SBA, September 30, 2026
- Page last changed
- November 12, 2026
- Lenders on record
- 104
- SBA FOIA,
- SBA loans, 36 months
- 604
- SBA FOIA,
- 7(a) net of cancelled; 504 funded first liens
- Dollars, 36 months
- $245M
- SBA FOIA,
- Last 12 months
- 162
- SBA FOIA,
Cite this
Source: The Lender Report, SBA lenders for construction trades in Minnesota, https://lender.report/sba-lenders-for/construction-trades/minnesota/, data as of September 30, 2026.
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| Lender | Kind | Based in | Loans | Dollars | 7(a) | 504 | Last 12 months |
|---|---|---|---|---|---|---|---|
| U.S. Bank National Association SBA 7(a) record | Bank | Cincinnati, OH | 132 | $16.4M | 132 | 0 | 34 |
| The Huntington National Bank SBA 7(a) record | Bank | Columbus, OH | 77 | $13.9M | 77 | 0 | 12 |
| Old National Bank SBA 7(a) record | Bank | Evansville, IN | 35 | $28.6M | 35 | 0 | 7 |
| Frandsen Bank & Trust SBA 7(a) record | Bank | Lonsdale, MN | 19 | $11.1M | 18 | 1 | 7 |
| BankVista SBA 7(a) record | Bank | Sartell, MN | 19 | $6.49M | 19 | 0 | 5 |
| Falcon National Bank SBA 7(a) record | Bank | Foley, MN | 17 | $8.85M | 17 | 0 | 6 |
| Northeast Bank SBA 7(a) record | Bank | Portland, ME | 17 | $2.91M | 17 | 0 | 3 |
| Platinum Bank SBA 7(a) record | Bank | Oakdale, MN | 15 | $10.4M | 14 | 1 | 3 |
| First Resource Bank SBA 7(a) record | Bank | Lino Lakes, MN | 14 | $11.8M | 14 | 0 | 5 |
| Readycap Lending, LLC SBA 7(a) record | Non-bank | Berkeley Heights, NJ | 14 | $3.07M | 14 | 0 | 4 |
| First Bank & Trust SBA 7(a) record | Bank | Brookings, SD | 11 | $9.72M | 10 | 1 | 0 |
| 21st Century Bank SBA 7(a) record | Bank | Loretto, MN | 10 | $3.19M | 9 | 1 | 6 |
| BayFirst National Bank SBA 7(a) record | Bank | Saint Petersburg, FL | 10 | $1.22M | 10 | 0 | 0 |
| Highland Bank SBA 7(a) record | Bank | Saint Paul, MN | 9 | $2.02M | 8 | 1 | 2 |
| Bell Bank SBA 7(a) record | Bank | Fargo, ND | 9 | $1.86M | 8 | 1 | 1 |
| Wells Fargo Bank, National Association SBA 7(a) record | Bank | Sioux Falls, SD | 9 | $155K | 9 | 0 | 0 |
| Merchants Bank, National Association SBA 7(a) record | Bank | Winona, MN | 6 | $3.56M | 6 | 0 | 1 |
| Village Bank SBA 7(a) record | Bank | Saint Francis, MN | 6 | $3.00M | 3 | 3 | 1 |
| The Bank of Elk River SBA 7(a) record | Bank | Elk River, MN | 6 | $2.56M | 6 | 0 | 4 |
| Granite Bank SBA 7(a) record | Bank | Cold Spring, MN | 6 | $1.44M | 6 | 0 | 1 |
| United Minnesota Bank SBA 7(a) record | Bank | New London, MN | 6 | $1.13M | 6 | 0 | 2 |
| Security Bank USA SBA 7(a) record | Bank | Bemidji, MN | 6 | $671K | 6 | 0 | 0 |
| Associated Bank, National Association SBA 7(a) record | Bank | Green Bay, WI | 5 | $5.43M | 5 | 0 | 2 |
| Bridgewater Bank SBA 7(a) record | Bank | Saint Louis Park, MN | 5 | $1.90M | 5 | 0 | 3 |
| Bravera Bank SBA 7(a) record | Bank | Dickinson, ND | 5 | $1.24M | 3 | 2 | 1 |
Dollars are approval amounts, rounded to 2 significant figures per loan, net of cancelled approvals.
| Industry | Loans |
|---|---|
| All Other Specialty Trade Contractors | 93 |
| Residential Remodelers | 86 |
| Plumbing, Heating, and Air-Conditioning Contractors | 77 |
| Electrical Contractors and Other Wiring Installation Contractors | 62 |
| Painting and Wall Covering Contractors | 28 |
| Commercial and Institutional Building Construction | 27 |
| New Single-Family Housing Construction (except For-Sale Builders) | 25 |
| Other Building Finishing Contractors | 19 |
| Drywall and Insulation Contractors | 18 |
| Other Foundation, Structure, and Building Exterior Contractors | 17 |
| Loan size | Loans |
|---|---|
| Under $150K | 289 |
| $150K to $350K | 131 |
| $350K to $1M | 119 |
| $1M to $2.5M | 47 |
| $2.5M or more | 18 |
- SBA lenders recorded 604 loans to construction trades totaling $244.9M in Minnesota in the 36 months ending September 30, 2026, excluding cancelled approvals. SBA FOIA,
- The typical loan was about $150K, with the middle half between $50K and $420K. SBA FOIA,
- 563 were SBA 7(a) loans and 41 were SBA 504 first liens. SBA FOIA,
- SBA 7(a) lenders reported a median initial rate of 9.50% on 563 loans. SBA FOIA,
- The median term was 10 years. SBA FOIA,
- Banks and savings institutions made 575 of the loans, credit unions 9, and non-banks 20. SBA FOIA,
- The five most active lenders made 46.7% of the loans. SBA FOIA,
- The three most active lenders were U.S. Bank National Association with 132, The Huntington National Bank with 77, and Old National Bank with 35. SBA FOIA,
- 289 of the loans were under $150K, and 65 were $1M or more. SBA FOIA,
- The SBA file shows 162 approvals of these loans dated in the 12 months to September 30, 2026, versus 237 in the 12 months before. Both counts leave out cancelled approvals and include 504 approvals not yet funded. SBA FOIA,
- 63 of the 104 lenders are based in Minnesota. The rest are based elsewhere, most often in South Dakota, Wisconsin and North Dakota. SBA FOIA,
- The most common detailed industry in Minnesota was All Other Specialty Trade Contractors, with 93 loans. SBA FOIA,
How this list is defined
- Measure
- SBA loans made to construction trades in Minnesota
- Period
- October 2023 to September 2026
- Formula
- Count, by lender, of SBA 7(a) approvals and SBA 504 first liens located in Minnesota, dated in the 36 months ending September 30, 2026 and not cancelled, whose NAICS code in the SBA file falls in NAICS 23.
- Order
- Largest first by loans in the state, then dollars, then name. Payment is not part of the order.
- As of
- September 30, 2026
- Source
- SBA FOIA
- Changelog
- : First published, with the data built on this date.
What we don't know
- Whether any of these lenders is taking new SBA loans today, or how it would treat a business like yours.
- Loans that were never completed. The SBA file lists approvals, and these pages leave out the ones it marks cancelled.
- The borrower, the address and every term beyond rate and term. The public file does not show them.
Every loan counted here carried one of these NAICS codes in the SBA file, and the state of the loan is the state of the business. Loans are approvals, net of cancelled approvals. Lenders that merged or stopped filing are left out.
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.