SBA by industry · MN
SBA lenders for medical practices in Minnesota
66 lenders made 282 SBA loans to medical practices in Minnesota in the 36 months ending September 30, 2026. BankVista made the most, with 34. The typical loan was about $180K.
- Evidence
- SBA 7(a) and 504 loans to medical practices in Minnesota, NAICS 621, excluding dental
- Data as of
- SBA, September 30, 2026
- Page last changed
- November 12, 2026
- Lenders on record
- 66
- SBA FOIA,
- SBA loans, 36 months
- 282
- SBA FOIA,
- 7(a) net of cancelled; 504 funded first liens
- Dollars, 36 months
- $115M
- SBA FOIA,
- Last 12 months
- 62
- SBA FOIA,
Cite this
Source: The Lender Report, SBA lenders for medical practices in Minnesota, https://lender.report/sba-lenders-for/medical-practices/minnesota/, data as of September 30, 2026.
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| Lender | Kind | Based in | Loans | Dollars | 7(a) | 504 | Last 12 months |
|---|---|---|---|---|---|---|---|
| BankVista SBA 7(a) record | Bank | Sartell, MN | 34 | $9.08M | 33 | 1 | 5 |
| The Huntington National Bank SBA 7(a) record | Bank | Columbus, OH | 29 | $10.0M | 29 | 0 | 2 |
| U.S. Bank National Association SBA 7(a) record | Bank | Cincinnati, OH | 26 | $10.3M | 26 | 0 | 6 |
| Old National Bank SBA 7(a) record | Bank | Evansville, IN | 16 | $11.6M | 16 | 0 | 4 |
| Frandsen Bank & Trust SBA 7(a) record | Bank | Lonsdale, MN | 12 | $5.23M | 11 | 1 | 4 |
| Northeast Bank SBA 7(a) record | Bank | Portland, ME | 9 | $1.92M | 9 | 0 | 1 |
| Choice Financial Group SBA 7(a) record | Bank | Fargo, ND | 7 | $2.75M | 6 | 1 | 2 |
| 21st Century Bank SBA 7(a) record | Bank | Loretto, MN | 7 | $2.01M | 7 | 0 | 2 |
| Live Oak Banking Company SBA 7(a) record | Bank | Wilmington, NC | 6 | $7.70M | 6 | 0 | 1 |
| Associated Bank, National Association SBA 7(a) record | Bank | Green Bay, WI | 6 | $2.51M | 6 | 0 | 0 |
| Stearns Bank National Association SBA 7(a) record | Bank | Saint Cloud, MN | 6 | $2.30M | 6 | 0 | 1 |
| Alerus Financial, National Association SBA 7(a) record | Bank | Grand Forks, ND | 6 | $2.05M | 6 | 0 | 0 |
| Drake Bank SBA 7(a) record | Bank | Saint Paul, MN | 6 | $1.27M | 6 | 0 | 1 |
| Readycap Lending, LLC SBA 7(a) record | Non-bank | Berkeley Heights, NJ | 6 | $382K | 6 | 0 | 2 |
| Wells Fargo Bank, National Association SBA 7(a) record | Bank | Sioux Falls, SD | 6 | $90.0K | 6 | 0 | 0 |
| Sunrise Banks, National Association SBA 7(a) record | Bank | Sioux Falls, SD | 5 | $885K | 5 | 0 | 0 |
| First Bank & Trust SBA 7(a) record | Bank | Brookings, SD | 4 | $5.42M | 4 | 0 | 1 |
| American National Bank of Minnesota | Bank | Baxter, MN | 4 | $654K | 3 | 1 | 0 |
| Premier Bank Minnesota SBA 7(a) record | Bank | Hastings, MN | 4 | $330K | 4 | 0 | 1 |
| Minnwest Bank SBA 7(a) record | Bank | Redwood Falls, MN | 3 | $4.55M | 3 | 0 | 1 |
| Merchants Bank, National Association SBA 7(a) record | Bank | Winona, MN | 3 | $2.38M | 2 | 1 | 2 |
| Newtek Bank, National Association SBA 7(a) record | Bank | Miami, FL | 3 | $950K | 3 | 0 | 3 |
| Highland Bank SBA 7(a) record | Bank | Saint Paul, MN | 3 | $650K | 3 | 0 | 1 |
| BayFirst National Bank SBA 7(a) record | Bank | Saint Petersburg, FL | 3 | $450K | 3 | 0 | 0 |
| Celtic Bank SBA 7(a) record | Bank | Salt Lake City, UT | 3 | $311K | 3 | 0 | 2 |
Dollars are approval amounts, rounded to 2 significant figures per loan, net of cancelled approvals.
| Industry | Loans |
|---|---|
| Offices of Chiropractors | 81 |
| Home Health Care Services | 66 |
| Offices of Mental Health Practitioners (except Physicians) | 32 |
| Offices of All Other Miscellaneous Health Practitioners | 29 |
| Offices of Physical, Occupational and Speech Therapists, and Audiologists | 17 |
| Outpatient Mental Health and Substance Abuse Centers | 13 |
| Offices of Physicians (except Mental Health Specialists) | 12 |
| Offices of Optometrists | 8 |
| All Other Outpatient Care Centers | 6 |
| Offices of Physicians, Mental Health Specialists | 6 |
| Loan size | Loans |
|---|---|
| Under $150K | 114 |
| $150K to $350K | 78 |
| $350K to $1M | 55 |
| $1M to $2.5M | 17 |
| $2.5M or more | 6 |
- SBA lenders recorded 282 loans to medical practices totaling $114.7M in Minnesota in the 36 months ending September 30, 2026, excluding cancelled approvals. SBA FOIA,
- The typical loan was about $180K, with the middle half between $50K and $380K. SBA FOIA,
- 258 were SBA 7(a) loans and 12 were SBA 504 first liens. SBA FOIA,
- SBA 7(a) lenders reported a median initial rate of 9.50% on 258 loans. SBA FOIA,
- The median term was 10 years. SBA FOIA,
- Banks and savings institutions made 258 of the loans, credit unions 5, and non-banks 7. SBA FOIA,
- The five most active lenders made 41.5% of the loans. SBA FOIA,
- The three most active lenders were BankVista with 34, The Huntington National Bank with 29, and U.S. Bank National Association with 26. SBA FOIA,
- 114 of the loans were under $150K, and 23 were $1M or more. SBA FOIA,
- 12 of these loans were made by lenders that have since merged or closed, that the file lists under a name with no lender record here, or that the loan tape shows only at a broader industry level. They are counted in the totals here and appear in no lender's row. SBA FOIA,
- The SBA file shows 62 approvals of these loans dated in the 12 months to September 30, 2026, versus 109 in the 12 months before. Both counts leave out cancelled approvals and include 504 approvals not yet funded. SBA FOIA,
- 38 of the 66 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 Offices of Chiropractors, with 81 loans. SBA FOIA,
How this list is defined
- Measure
- SBA loans made to medical practices 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 621, excluding dental.
- 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.