SBA by industry · MN
SBA lenders for restaurants in Minnesota
108 lenders made 406 SBA loans to restaurants in Minnesota in the 36 months ending September 30, 2026. The Huntington National Bank made the most, with 36. The typical loan was about $260K.
- Evidence
- SBA 7(a) and 504 loans to restaurants in Minnesota, NAICS 722
- Data as of
- SBA, September 30, 2026
- Page last changed
- November 12, 2026
- Lenders on record
- 108
- SBA FOIA,
- SBA loans, 36 months
- 406
- SBA FOIA,
- 7(a) net of cancelled; 504 funded first liens
- Dollars, 36 months
- $198M
- SBA FOIA,
- Last 12 months
- 115
- SBA FOIA,
Cite this
Source: The Lender Report, SBA lenders for restaurants in Minnesota, https://lender.report/sba-lenders-for/restaurants/minnesota/, data as of September 30, 2026.
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| Lender | Kind | Based in | Loans | Dollars | 7(a) | 504 | Last 12 months |
|---|---|---|---|---|---|---|---|
| The Huntington National Bank SBA 7(a) record | Bank | Columbus, OH | 36 | $7.21M | 36 | 0 | 7 |
| Sunrise Banks, National Association SBA 7(a) record | Bank | Sioux Falls, SD | 29 | $13.4M | 27 | 2 | 10 |
| U.S. Bank National Association SBA 7(a) record | Bank | Cincinnati, OH | 28 | $3.63M | 28 | 0 | 9 |
| BankVista SBA 7(a) record | Bank | Sartell, MN | 27 | $16.4M | 25 | 2 | 7 |
| Frandsen Bank & Trust SBA 7(a) record | Bank | Lonsdale, MN | 18 | $8.26M | 17 | 1 | 6 |
| Choice Financial Group SBA 7(a) record | Bank | Fargo, ND | 11 | $5.75M | 9 | 2 | 1 |
| Hiawatha National Bank SBA 7(a) record | Bank | Hager City, WI | 9 | $5.46M | 9 | 0 | 1 |
| Old National Bank SBA 7(a) record | Bank | Evansville, IN | 8 | $10.2M | 6 | 2 | 1 |
| First Bank & Trust SBA 7(a) record | Bank | Brookings, SD | 8 | $5.11M | 8 | 0 | 2 |
| Northeast Bank SBA 7(a) record | Bank | Minneapolis, MN | 8 | $2.76M | 8 | 0 | 1 |
| Minnwest Bank SBA 7(a) record | Bank | Redwood Falls, MN | 8 | $1.48M | 8 | 0 | 4 |
| Wells Fargo Bank, National Association SBA 7(a) record | Bank | Sioux Falls, SD | 7 | $4.54M | 7 | 0 | 2 |
| BankCherokee SBA 7(a) record | Bank | Saint Paul, MN | 7 | $3.33M | 7 | 0 | 1 |
| National Bank of Commerce SBA 7(a) record | Bank | Superior, WI | 7 | $3.10M | 6 | 1 | 0 |
| Bell Bank SBA 7(a) record | Bank | Fargo, ND | 6 | $7.14M | 5 | 1 | 2 |
| Village Bank SBA 7(a) record | Bank | Saint Francis, MN | 6 | $5.05M | 5 | 1 | 1 |
| Platinum Bank SBA 7(a) record | Bank | Oakdale, MN | 6 | $3.21M | 6 | 0 | 0 |
| Falcon National Bank SBA 7(a) record | Bank | Foley, MN | 6 | $2.66M | 6 | 0 | 0 |
| Citizens Bank & Trust Co. SBA 7(a) record | Bank | Hutchinson, MN | 6 | $440K | 6 | 0 | 1 |
| Newtek Bank, National Association SBA 7(a) record | Bank | Miami, FL | 5 | $1.60M | 5 | 0 | 0 |
| Security Bank USA SBA 7(a) record | Bank | Bemidji, MN | 5 | $575K | 5 | 0 | 1 |
| Alerus Financial, National Association SBA 7(a) record | Bank | Grand Forks, ND | 4 | $6.63M | 4 | 0 | 0 |
| Drake Bank SBA 7(a) record | Bank | Saint Paul, MN | 4 | $1.34M | 3 | 1 | 1 |
| Stearns Bank National Association SBA 7(a) record | Bank | Saint Cloud, MN | 4 | $970K | 4 | 0 | 2 |
| VisionBank SBA 7(a) record | Bank | Saint Louis Park, MN | 4 | $882K | 4 | 0 | 2 |
Dollars are approval amounts, rounded to 2 significant figures per loan, net of cancelled approvals.
| Industry | Loans |
|---|---|
| Full-Service Restaurants | 173 |
| Limited-Service Restaurants | 120 |
| Snack and Nonalcoholic Beverage Bars | 53 |
| Mobile Food Services | 25 |
| Caterers | 16 |
| Drinking Places (Alcoholic Beverages) | 15 |
| Food Service Contractors | 3 |
| Cafeterias, Grill Buffets, and Buffets | 1 |
| Loan size | Loans |
|---|---|
| Under $150K | 136 |
| $150K to $350K | 87 |
| $350K to $1M | 125 |
| $1M to $2.5M | 42 |
| $2.5M or more | 9 |
- SBA lenders recorded 406 loans to restaurants totaling $198.4M in Minnesota in the 36 months ending September 30, 2026, excluding cancelled approvals. SBA FOIA,
- The typical loan was about $260K, with the middle half between $94K and $670K. SBA FOIA,
- 352 were SBA 7(a) loans and 47 were SBA 504 first liens. SBA FOIA,
- SBA 7(a) lenders reported a median initial rate of 9.50% on 352 loans. SBA FOIA,
- The median term was 10 years. SBA FOIA,
- Banks and savings institutions made 370 of the loans, credit unions 17, and non-banks 12. SBA FOIA,
- The five most active lenders made 34.0% of the loans. SBA FOIA,
- The three most active lenders were The Huntington National Bank with 36, Sunrise Banks, National Association with 29, and U.S. Bank National Association with 28. SBA FOIA,
- 136 of the loans were under $150K, and 51 were $1M or more. SBA FOIA,
- 7 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 115 approvals of these loans dated in the 12 months to September 30, 2026, versus 137 in the 12 months before. Both counts leave out cancelled approvals and include 504 approvals not yet funded. SBA FOIA,
- 61 of the 108 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 Full-Service Restaurants, with 173 loans. SBA FOIA,
How this list is defined
- Measure
- SBA loans made to restaurants 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 722.
- 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.