SBA by industry · MN
SBA lenders for manufacturers in Minnesota
95 lenders made 387 SBA loans to manufacturers in Minnesota in the 36 months ending September 30, 2026. U.S. Bank National Association made the most, with 47. The typical loan was about $300K.
- Evidence
- SBA 7(a) and 504 loans to manufacturers in Minnesota, NAICS 31 to 33
- Data as of
- SBA, September 30, 2026
- Page last changed
- November 12, 2026
- Lenders on record
- 95
- SBA FOIA,
- SBA loans, 36 months
- 387
- SBA FOIA,
- 7(a) net of cancelled; 504 funded first liens
- Dollars, 36 months
- $281M
- SBA FOIA,
- Last 12 months
- 100
- SBA FOIA,
Cite this
Source: The Lender Report, SBA lenders for manufacturers in Minnesota, https://lender.report/sba-lenders-for/manufacturing/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 | 47 | $41.9M | 46 | 1 | 8 |
| Bell Bank SBA 7(a) record | Bank | Fargo, ND | 23 | $11.3M | 21 | 2 | 9 |
| BankVista SBA 7(a) record | Bank | Sartell, MN | 20 | $17.4M | 17 | 3 | 3 |
| The Huntington National Bank SBA 7(a) record | Bank | Columbus, OH | 19 | $9.70M | 19 | 0 | 3 |
| Frandsen Bank & Trust SBA 7(a) record | Bank | Lonsdale, MN | 19 | $9.26M | 16 | 3 | 6 |
| Choice Financial Group SBA 7(a) record | Bank | Fargo, ND | 14 | $6.99M | 13 | 1 | 2 |
| Old National Bank SBA 7(a) record | Bank | Evansville, IN | 13 | $14.5M | 12 | 1 | 4 |
| First Resource Bank SBA 7(a) record | Bank | Lino Lakes, MN | 11 | $8.47M | 10 | 1 | 3 |
| Falcon National Bank SBA 7(a) record | Bank | Foley, MN | 11 | $8.21M | 11 | 0 | 4 |
| Highland Bank SBA 7(a) record | Bank | Saint Paul, MN | 10 | $4.85M | 9 | 1 | 5 |
| 21st Century Bank SBA 7(a) record | Bank | Loretto, MN | 8 | $6.81M | 6 | 2 | 4 |
| Minnwest Bank SBA 7(a) record | Bank | Redwood Falls, MN | 8 | $6.40M | 7 | 1 | 2 |
| Drake Bank SBA 7(a) record | Bank | Saint Paul, MN | 7 | $4.60M | 6 | 1 | 1 |
| Stearns Bank National Association SBA 7(a) record | Bank | Saint Cloud, MN | 7 | $3.47M | 7 | 0 | 0 |
| Associated Bank, National Association SBA 7(a) record | Bank | Green Bay, WI | 6 | $8.21M | 5 | 1 | 1 |
| Platinum Bank SBA 7(a) record | Bank | Oakdale, MN | 6 | $8.15M | 6 | 0 | 1 |
| Scale Bank SBA 7(a) record | Bank | Edina, MN | 5 | $3.04M | 4 | 1 | 2 |
| Community Resource Bank SBA 7(a) record | Bank | Northfield, MN | 5 | $2.71M | 3 | 2 | 1 |
| First Bank & Trust SBA 7(a) record | Bank | Brookings, SD | 5 | $1.95M | 5 | 0 | 0 |
| BankCherokee SBA 7(a) record | Bank | Saint Paul, MN | 4 | $7.30M | 2 | 2 | 1 |
| Northeast Bank SBA 7(a) record | Bank | Minneapolis, MN | 4 | $3.00M | 2 | 2 | 0 |
| Sentry Bank SBA 7(a) record | Bank | Saint Joseph, MN | 4 | $2.52M | 1 | 3 | 1 |
| The Bank of Elk River SBA 7(a) record | Bank | Elk River, MN | 4 | $2.42M | 2 | 2 | 1 |
| Alerus Financial, National Association SBA 7(a) record | Bank | Grand Forks, ND | 4 | $2.28M | 3 | 1 | 1 |
| National Bank of Commerce SBA 7(a) record | Bank | Superior, WI | 4 | $2.25M | 4 | 0 | 0 |
Dollars are approval amounts, rounded to 2 significant figures per loan, net of cancelled approvals.
| Industry | Loans |
|---|---|
| Commercial Printing (except Screen and Books) | 27 |
| All Other Miscellaneous Fabricated Metal Product Manufacturing | 21 |
| Breweries | 20 |
| Machine Shops | 19 |
| Wood Kitchen Cabinet and Countertop Manufacturing | 18 |
| Retail Bakeries | 12 |
| Sign Manufacturing | 12 |
| Commercial Screen Printing | 11 |
| Coffee and Tea Manufacturing | 10 |
| Sporting and Athletic Goods Manufacturing | 10 |
| Loan size | Loans |
|---|---|
| Under $150K | 106 |
| $150K to $350K | 94 |
| $350K to $1M | 106 |
| $1M to $2.5M | 55 |
| $2.5M or more | 26 |
- SBA lenders recorded 387 loans to manufacturers totaling $280.6M in Minnesota in the 36 months ending September 30, 2026, excluding cancelled approvals. SBA FOIA,
- The typical loan was about $300K, with the middle half between $120K and $770K. SBA FOIA,
- 337 were SBA 7(a) loans and 50 were SBA 504 first liens. SBA FOIA,
- SBA 7(a) lenders reported a median initial rate of 9.50% on 337 loans. SBA FOIA,
- The median term was 10 years. SBA FOIA,
- Banks and savings institutions made 370 of the loans, credit unions 10, and non-banks 7. SBA FOIA,
- The five most active lenders made 33.1% of the loans. SBA FOIA,
- The three most active lenders were U.S. Bank National Association with 47, Bell Bank with 23, and BankVista with 20. SBA FOIA,
- 106 of the loans were under $150K, and 81 were $1M or more. SBA FOIA,
- The SBA file shows 100 approvals of these loans dated in the 12 months to September 30, 2026, versus 146 in the 12 months before. Both counts leave out cancelled approvals and include 504 approvals not yet funded. SBA FOIA,
- 52 of the 95 lenders are based in Minnesota. The rest are based elsewhere, most often in Wisconsin, North Dakota and South Dakota. SBA FOIA,
- The most common detailed industry in Minnesota was Commercial Printing (except Screen and Books), with 27 loans. SBA FOIA,
How this list is defined
- Measure
- SBA loans made to manufacturers 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 31 to 33.
- 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.