SBA by industry · MN
SBA lenders for retail stores in Minnesota
103 lenders made 426 SBA loans to retail stores in Minnesota in the 36 months ending September 30, 2026. U.S. Bank National Association made the most, with 57. The typical loan was about $200K.
- Evidence
- SBA 7(a) and 504 loans to retail stores in Minnesota, NAICS 44 and 45, excluding gas, convenience and pharmacy
- Data as of
- SBA, September 30, 2026
- Page last changed
- November 12, 2026
- Lenders on record
- 103
- SBA FOIA,
- SBA loans, 36 months
- 426
- SBA FOIA,
- 7(a) net of cancelled; 504 funded first liens
- Dollars, 36 months
- $181M
- SBA FOIA,
- Last 12 months
- 113
- SBA FOIA,
Cite this
Source: The Lender Report, SBA lenders for retail stores in Minnesota, https://lender.report/sba-lenders-for/retail/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 | 57 | $11.1M | 57 | 0 | 13 |
| The Huntington National Bank SBA 7(a) record | Bank | Columbus, OH | 29 | $5.69M | 29 | 0 | 6 |
| Falcon National Bank SBA 7(a) record | Bank | Foley, MN | 22 | $15.7M | 21 | 1 | 1 |
| Wells Fargo Bank, National Association SBA 7(a) record | Bank | Sioux Falls, SD | 18 | $3.25M | 18 | 0 | 5 |
| Old National Bank SBA 7(a) record | Bank | Evansville, IN | 12 | $9.68M | 12 | 0 | 2 |
| Sunrise Banks, National Association SBA 7(a) record | Bank | Sioux Falls, SD | 12 | $1.99M | 11 | 1 | 2 |
| First Resource Bank SBA 7(a) record | Bank | Lino Lakes, MN | 10 | $7.32M | 9 | 1 | 4 |
| Platinum Bank SBA 7(a) record | Bank | Oakdale, MN | 10 | $6.85M | 9 | 1 | 1 |
| First Bank & Trust SBA 7(a) record | Bank | Brookings, SD | 10 | $5.30M | 10 | 0 | 0 |
| Frandsen Bank & Trust SBA 7(a) record | Bank | Lonsdale, MN | 10 | $4.20M | 10 | 0 | 3 |
| Newtek Bank, National Association SBA 7(a) record | Bank | Miami, FL | 9 | $3.37M | 9 | 0 | 5 |
| Ultima Bank Minnesota SBA 7(a) record | Bank | Winger, MN | 9 | $1.95M | 9 | 0 | 2 |
| Northeast Bank SBA 7(a) record | Bank | Portland, ME | 9 | $1.45M | 9 | 0 | 3 |
| BankVista SBA 7(a) record | Bank | Sartell, MN | 8 | $5.91M | 7 | 1 | 4 |
| Bell Bank SBA 7(a) record | Bank | Fargo, ND | 8 | $5.17M | 6 | 2 | 2 |
| Associated Bank, National Association SBA 7(a) record | Bank | Green Bay, WI | 7 | $7.26M | 7 | 0 | 2 |
| Minnwest Bank SBA 7(a) record | Bank | Redwood Falls, MN | 7 | $1.81M | 6 | 1 | 3 |
| Highland Bank SBA 7(a) record | Bank | Saint Paul, MN | 7 | $1.12M | 6 | 1 | 2 |
| Readycap Lending, LLC SBA 7(a) record | Non-bank | Berkeley Heights, NJ | 7 | $615K | 7 | 0 | 3 |
| Northeast Bank SBA 7(a) record | Bank | Minneapolis, MN | 6 | $4.80M | 5 | 1 | 1 |
| Farmers & Merchants Savings Bank SBA 7(a) record | Bank | Manchester, IA | 6 | $3.49M | 6 | 0 | 0 |
| BayFirst National Bank SBA 7(a) record | Bank | Saint Petersburg, FL | 6 | $800K | 6 | 0 | 0 |
| Merchants Bank, National Association SBA 7(a) record | Bank | Winona, MN | 5 | $1.34M | 4 | 1 | 1 |
| BankCherokee SBA 7(a) record | Bank | Saint Paul, MN | 5 | $1.02M | 4 | 1 | 0 |
| Stearns Bank National Association SBA 7(a) record | Bank | Saint Cloud, MN | 5 | $623K | 5 | 0 | 2 |
Dollars are approval amounts, rounded to 2 significant figures per loan, net of cancelled approvals.
| Industry | Loans |
|---|---|
| Clothing and Clothing Accessories Retailers | 60 |
| Beer, Wine, and Liquor Retailers | 33 |
| Sporting Goods Retailers | 32 |
| All Other Miscellaneous Retailers | 27 |
| Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 21 |
| Hobby, Toy, and Game Retailers | 18 |
| All Other Specialty Food Retailers | 17 |
| All Other General Merchandise Retailers | 16 |
| Other Building Material Dealers | 14 |
| Used Car Dealers | 12 |
| Loan size | Loans |
|---|---|
| Under $150K | 169 |
| $150K to $350K | 100 |
| $350K to $1M | 108 |
| $1M to $2.5M | 46 |
| $2.5M or more | 7 |
- SBA lenders recorded 426 loans to retail stores totaling $181.3M in Minnesota in the 36 months ending September 30, 2026, excluding cancelled approvals. SBA FOIA,
- The typical loan was about $200K, with the middle half between $50K and $510K. SBA FOIA,
- 391 were SBA 7(a) loans and 39 were SBA 504 first liens. SBA FOIA,
- SBA 7(a) lenders reported a median initial rate of 9.75% on 391 loans. SBA FOIA,
- The median term was 10 years. SBA FOIA,
- Banks and savings institutions made 404 of the loans, credit unions 14, and non-banks 12. SBA FOIA,
- The five most active lenders made 32.4% of the loans. SBA FOIA,
- The three most active lenders were U.S. Bank National Association with 57, The Huntington National Bank with 29, and Falcon National Bank with 22. SBA FOIA,
- 169 of the loans were under $150K, and 53 were $1M or more. SBA FOIA,
- The SBA file shows 113 approvals of these loans dated in the 12 months to September 30, 2026, versus 159 in the 12 months before. Both counts leave out cancelled approvals and include 504 approvals not yet funded. SBA FOIA,
- 54 of the 103 lenders are based in Minnesota. The rest are based elsewhere, most often in Wisconsin, North Dakota and Ohio. SBA FOIA,
- The most common detailed industry in Minnesota was Clothing and Clothing Accessories Retailers, with 60 loans. SBA FOIA,
How this list is defined
- Measure
- SBA loans made to retail stores 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 44 and 45, excluding gas, convenience and pharmacy.
- 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.