Entrepreneurs and small business owners in Minnesota have a wealth of financial options at their disposal, thanks to the support provided by the Small Business Administration (SBA) lenders. Let’s explore the top 10 SBA lenders in the state, shedding light on their unique characteristics and strengths:
Minnesota Preferred SBA Lenders
| Rank | Bank | Bank HQ | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|---|
| 1 | U.S. Bank | Cincinnati, OH | 238 | $127,142 | 7.1% |
| 2 | BankVista | Sartell, MN | 97 | $354,233 | 6.6% |
| 3 | The Huntington National Bank | Columbus, OH | 67 | $283,101 | 7.3% |
| 4 | Wells Fargo | Sioux Falls, SD | 46 | $117,952 | 10.0% |
| 5 | Hiawatha National Bank | Hager City, WI | 39 | $522,921 | 5.8% |
| 6 | Choice Financial Group | Fargo, ND | 38 | $534,513 | 7.1% |
| 7 | Frandsen Bank & Trust | Lonsdale, MN | 36 | $537,361 | 7.0% |
| 8 | Bremer Bank | Saint Paul, MN | 35 | $642,209 | 6.0% |
| 9 | Financial Security Bank | Kerkhoven, MN | 32 | $225,519 | 6.1% |
| 10 | Granite Bank | Cold Spring, MN | 32 | $127,469 | 7.0% |
| 11 | Old National Bank | Evansville, IN | 31 | $1,099,855 | 6.4% |
| 12 | Platinum Bank | Oakdale, MN | 31 | $891,697 | 4.2% |
| 13 | Minnwest Bank | Redwood Falls, MN | 29 | $636,552 | 6.2% |
| 14 | 21st Century Bank | Loretto, MN | 26 | $395,750 | 5.4% |
| 15 | Highland Bank | St. Michael, MN | 25 | $198,580 | 7.1% |
| 16 | Magnifi Financial CU | Melrose, MN | 23 | $291,983 | 6.4% |
| 17 | Falcon National Bank | Foley, MN | 21 | $797,086 | 6.4% |
| 18 | Sunrise Banks | Saint Paul, MN | 21 | $430,643 | 7.2% |
| 19 | Village Bank | Saint Francis, MN | 20 | $982,435 | 6.0% |
| 20 | Ultima Bank Minnesota | Winger, MN | 16 | $448,938 | 5.5% |
| 21 | BankCherokee | Saint Paul, MN | 15 | $469,027 | 6.4% |
| 22 | BayFirst National Bank | Saint Petersburg, FL | 15 | $322,733 | 8.3% |
| 23 | First Bank & Trust | Brookings, SD | 15 | $1,055,427 | 5.9% |
| 24 | Security Bank USA | Bemidji, MN | 15 | $157,113 | 6.9% |
| 25 | Northeast Bank | Minneapolis, MN | 13 | $517,715 | 5.6% |
| 26 | First Citizens Bank | Mason City, IA | 12 | $99,108 | 6.0% |
| 27 | First Resource Bank | Lino Lakes, MN | 12 | $366,250 | 7.3% |
| 28 | Bell Bank | Fargo, ND | 11 | $1,158,236 | 6.1% |
| 29 | Citizens Bank & Trust Co | Hutchinson, MN | 11 | $198,573 | 6.0% |
| 30 | Members Cooperative CU | Duluth, MN | 11 | $230,345 | 6.1% |
| 31 | Citizens State Bank | Hudson, WI | 10 | $293,090 | 5.8% |
| 32 | Live Oak | Wilmington, NC | 10 | $1,998,000 | 6.1% |
| 33 | The Bank of Elk River | Elk River, MN | 10 | $351,730 | 6.2% |
| 34 | Celtic Bank | Salt Lake City, UT | 9 | $661,833 | 7.7% |
| 35 | Lake Region Bank | New London, MN | 9 | $131,744 | 5.6% |
| 36 | Bridgewater Bank | Saint Louis Park, MN | 8 | $221,775 | 6.6% |
| 37 | Farmers and Merchants State Bank of Pierz | Pierz, MN | 8 | $185,213 | 5.8% |
| 38 | Luminate Bank | Minnetonka, MN | 8 | $639,250 | 7.5% |
| 39 | United Midwest Savings Bank | De Graff, OH | 8 | $131,250 | 6.7% |
| 40 | Alerus Financial | Grand Forks, ND | 7 | $264,843 | 6.5% |
1. U.S. Bank
U.S. Bank, a nationally recognized institution based in Cincinnati, Ohio, leads the pack with an impressive 238 loans. Offering an average loan amount of $127,142 at a 7.1% interest rate, U.S. Bank provides Minnesota businesses with the advantage of a robust national presence and a track record of substantial lending support.
2. BankVista
BankVista, headquartered in Sartell, Minnesota, secures the second position with a strong local focus. Facilitating 97 loans, the bank offers an average loan amount of $354,233 at a competitive 6.6% interest rate. Minnesota businesses looking for community-oriented support and competitive financing terms may find BankVista to be an ideal partner.
3. The Huntington National Bank
The Huntington National Bank, based in Columbus, Ohio, is a national player with a considerable presence in Minnesota. With 67 loans, the bank provides an average loan amount of $283,101 at a 7.3% interest rate. The Huntington National Bank offers businesses in Minnesota a mix of national backing and substantial lending support.
4. Wells Fargo
Wells Fargo, headquartered in Sioux Falls, South Dakota, is a well-established national player. With 46 loans, the bank offers an average loan amount of $117,952 at a relatively higher 10.0% interest rate. While providing a broad spectrum of financial services, businesses in Minnesota should consider the interest rate implications.
5. Hiawatha National Bank
Hiawatha National Bank, located in Hager City, Wisconsin, secures the fifth position. Facilitating 39 loans, the bank offers an average loan of $522,921 at a low 5.8% interest rate. Hiawatha National Bank stands out for businesses seeking localized support and competitive financing terms.
6. Choice Financial Group
Choice Financial Group, headquartered in Fargo, North Dakota, caters to businesses in Minnesota with a regional focus. With 38 loans, the bank offers an average loan amount of $534,513 at a 7.1% interest rate. Choice Financial Group is a strategic choice for businesses seeking regional support with competitive financing terms.
7. Frandsen Bank & Trust
Frandsen Bank & Trust, located in Lonsdale, Minnesota, is a regional player with a focus on the local community. Facilitating 36 loans, the bank offers an average loan amount of $537,361 at a 7.0% interest rate. Minnesota businesses seeking community-oriented financing and competitive terms may find Frandsen Bank & Trust to be an attractive option.
8. Bremer Bank
Bremer Bank, based in Saint Paul, Minnesota, distinguishes itself with a focus on larger loan amounts. With 35 loans, the bank provides an average loan of $642,209 at a 6.0% interest rate. Bremer Bank is an attractive option for businesses in Minnesota looking for substantial financial support.
9. Financial Security Bank
Financial Security Bank, located in Kerkhoven, Minnesota, is a local player with a focus on personalized service. Facilitating 32 loans, the bank offers an average loan amount of $225,519 at a 6.1% interest rate. Financial Security Bank caters to businesses seeking community-oriented support and competitive financing terms.
10. Granite Bank
Granite Bank, based in Cold Spring, Minnesota, closes the top 10 SBA lenders in the state. With 32 loans, the bank offers an average loan amount of $127,469 at a 7.0% interest rate. Minnesota businesses looking for a local banking partner with competitive financing terms may find Granite Bank to be a strategic choice.
In conclusion, Minnesota businesses have a diverse array of SBA lenders to choose from, each offering unique advantages. Whether seeking local community support, substantial national backing, or a mix of both, these top 10 lenders cater to the diverse financial needs of businesses in the Land of 10,000 Lakes.
Top Industries for SBA loans in Minnesota
| Rank | Industry | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|
| 1 | Full-Service Restaurants | 56 | $348,450 | 6.3% |
| 2 | General Automotive Repair | 32 | $395,122 | 6.3% |
| 3 | Limited-Service Restaurants | 30 | $590,390 | 6.3% |
| 4 | Offices of Chiropractors | 27 | $193,978 | 6.5% |
| 5 | Landscaping Services | 27 | $205,796 | 6.3% |
| 6 | Home Health Care Services | 27 | $455,359 | 6.9% |
| 7 | Beauty Salons | 26 | $376,327 | 6.5% |
| 8 | General Freight Trucking, Local | 25 | $158,156 | 6.8% |
| 9 | Plumbing, Heating, and Air-Conditioning Contractors | 23 | $370,361 | 6.4% |
| 10 | Residential Remodelers | 21 | $282,276 | 7.5% |
| 11 | Snack and Nonalcoholic Beverage Bars | 19 | $408,737 | 6.5% |
| 12 | Fitness and Recreational Sports Centers | 19 | $238,900 | 6.8% |
| 13 | All Other Specialty Trade Contractors | 19 | $570,437 | 6.5% |
| 14 | Specialized Freight (except Used Goods) Trucking, Local | 19 | $144,632 | 6.5% |
| 15 | Breweries | 17 | $592,382 | 6.7% |
| 16 | Administrative Management and General Management Consulting Services | 17 | $76,424 | 7.6% |
| 17 | General Freight Trucking, Long Distance, Truckload | 15 | $176,293 | 8.1% |
| 18 | Marketing Consulting Services | 14 | $90,357 | 6.1% |
| 19 | Machine Shops | 14 | $330,779 | 6.0% |
| 20 | Insurance Agencies and Brokerages | 13 | $494,069 | 6.0% |
| 21 | Hotels (except Casino Hotels) and Motels | 12 | $1,975,700 | 6.3% |
| 22 | Other Personal Care Services | 12 | $122,700 | 7.5% |
| 23 | All Other Professional, Scientific, and Technical Services | 12 | $305,292 | 6.4% |
| 24 | Lessors of Nonresidential Buildings (except Miniwarehouses) | 11 | $532,845 | 6.2% |
| 25 | All Other Personal Services | 11 | $694,982 | 6.1% |
| 26 | Janitorial Services | 10 | $404,760 | 6.7% |
| 27 | All Other Amusement and Recreation Industries | 10 | $355,670 | 6.6% |
| 28 | Electrical Contractors | 10 | $129,490 | 5.7% |
| 29 | Flooring Contractors | 10 | $72,740 | 7.5% |
| 30 | Pet Care (except Veterinary) Services | 9 | $498,800 | 6.1% |
| 31 | Offices of Lawyers | 9 | $227,744 | 6.5% |
| 32 | Mobile Food Services | 9 | $88,222 | 6.2% |
| 33 | Child Day Care Services | 9 | $618,489 | 6.8% |
| 34 | Drinking Places (Alcoholic Beverages) | 9 | $527,344 | 6.1% |
| 35 | Custom Computer Programming Services | 9 | $317,222 | 6.6% |
| 36 | Commercial and Institutional Building Construction | 9 | $306,778 | 7.6% |
| 37 | Site Preparation Contractors | 9 | $172,444 | 6.7% |
| 38 | Offices of Dentists | 8 | $1,605,338 | 6.7% |
| 39 | Finish Carpentry Contractors | 8 | $21,100 | 7.2% |
| 40 | Offices of Certified Public Accountants | 8 | $274,075 | 7.3% |
Top SBA Loan Franchises in Minnesota
| Rank | FranchiseName | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|
| 1 | The UPS Store | 6 | $180,167 | 7.9% |
| 2 | Americas Best Value Inn | 4 | $1,254,350 | 6.9% |
| 3 | Hotworx | 4 | $262,500 | 8.4% |
| 4 | Prose | 3 | $143,333 | 6.5% |
| 5 | Christian Brothers Automotive | 3 | $413,567 | 5.8% |
| 6 | Midas | 3 | $819,133 | 5.5% |
| 7 | Econo Lodge | 3 | $2,728,667 | 5.6% |
| 8 | Nautical Bowls | 3 | $298,233 | 6.3% |
| 9 | Scooter’s Coffee | 3 | $1,345,667 | 7.6% |
| 10 | Jersey Mike’s | 2 | $580,000 | 5.8% |
| 11 | Papa Murphy’s Take ‘N’ Bake Pi | 2 | $661,100 | 7.3% |
| 12 | HealthSource Chiropractic | 2 | $197,400 | 6.1% |
| 13 | ActionCOACH | 2 | $220,000 | 9.8% |
| 14 | Hello Garage | 2 | $30,000 | 6.2% |
| 15 | The Brothers that just do Gutt | 2 | $156,250 | 5.5% |
| 16 | Gina Maria’s Pizza | 2 | $75,000 | 6.0% |
| 17 | Budget Blinds | 2 | $150,000 | 6.0% |
| 18 | Clothes Mentor | 2 | $283,750 | 7.0% |
| 19 | Apple SpiceTM | 2 | $381,450 | 8.0% |
| 20 | Subway | 2 | $266,800 | 6.5% |
| 21 | Send Me a Trainer | 2 | $75,000 | 6.3% |
| 22 | Mr. Appliance | 2 | $150,000 | 6.3% |
| 23 | Erbert and Gerbert’s | 2 | $278,850 | 6.9% |
| 24 | Fantastic Sams | 2 | $773,000 | 5.5% |
| 25 | Burn Boot Camp | 2 | $142,000 | 7.1% |
| 26 | Rumble | 2 | $519,100 | 9.0% |
| 27 | Footprints Floors | 2 | $150,000 | 8.3% |
| 28 | Nautical Bowls | 2 | $348,000 | 8.3% |
| 29 | Red’s Savoy Pizza | 2 | $238,000 | 8.5% |
| 30 | Carquest | 2 | $947,000 | 7.6% |
| 31 | Visiting Angels | 2 | $809,050 | 8.5% |
| 32 | Deka Lash | 2 | $72,750 | 6.3% |
Top Minnesota SBA Loan Borrowers by Jobs Supported
| Rank | Business | Location | Industry | Loan Size | Interest Rate | Jobs |
|---|---|---|---|---|---|---|
| 1 | UNLIMITED POSSIBILITIES LLC | Burnsville, MN | All Other Professional, Scientific, and Technical Services | $500K – $1M | 6.0% | 270 |
| 2 | SPCO2 LLC | Roseville, MN | Limited-Service Restaurants | $2.5M – $5M | 4.8% | 247 |
| 3 | THE LORENZ CLINIC LLC | Victoria, MN | Offices of Physicians, Mental Health Specialists | $1M – $2.5M | 2.8% | 230 |
| 4 | MAGNA VITA HOME HEALTHCARE FUN | Rush City, MN | Home Health Care Services | $500K – $1M | 5.4% | 222 |
| 5 | UPLINK STAFFING INC | Brooklyn Ctr, MN | Home Health Care Services | $250K or less | 6.0% | 200 |
| 6 | MORTY CONSTRUCTION INC | Askov, MN | Regulation and Administration of Communications, Electric, Gas, and Ot | $500K – $1M | 6.0% | 200 |
| 7 | DOMI HEALTH LLC | Minneapolis, MN | Home Health Care Services | $1M – $2.5M | 6.3% | 194 |
| 8 | ROYALTY HEALTH CARE INC. | Fridley, MN | Home Health Care Services | $2.5M – $5M | 6.8% | 180 |
| 9 | CENTRO HIGHLAND PARK LLC | Saint Paul, MN | Full-Service Restaurants | $1M – $2.5M | 7.3% | 170 |
| 10 | HOMECO INSULATION INC | Minneapolis, MN | All Other Specialty Trade Contractors | $1M – $2.5M | 6.9% | 168 |
| 11 | CBM INVESTMENT LLC | Saint Paul, MN | Residential Mental Retardation Facilities | $500K – $1M | 5.8% | 134 |
| 12 | S & A MINNEAPOLIS 1 LLC | Minneapolis, MN | Offices of Physicians (except Mental Health Specialists) | $500K – $1M | 7.0% | 130 |
| 13 | VISIONS INC. | Minneapolis, MN | Commercial Gravure Printing | $250K – $500K | 6.5% | 113 |
| 14 | ESPRESSO SERVICES INC | Minneapolis, MN | Other Grocery and Related Products Merchant Wholesalers | $2.5M – $5M | 5.5% | 110 |
| 15 | UTEPILS INVESTMENTS LLC | Minneapolis, MN | Breweries | $1M – $2.5M | 7.5% | 103 |
| 16 | BRADLEY R BEHNKE GOLF MANAGEME | Buffalo, MN | Golf Courses and Country Clubs | $250K – $500K | 5.0% | 102 |
| 17 | JAMES PITZNER ENTERPRISES LLC | Maplewood, MN | Home Health Care Services | $250K or less | 5.5% | 100 |
| 18 | WINN LLC | Oak Park Heights, MN | Other Foundation, Structure, and Building Exterior Contractors | $1M – $2.5M | 1.3% | 95 |
| 19 | W ZINTL CONSTRUCTION INC | Oak Park Heights, MN | Other Foundation, Structure, and Building Exterior Contractors | $1M – $2.5M | 1.0% | 95 |
| 20 | ULTIMATE SPORTS BAR AND GRILL | Waite Park, MN | Drinking Places (Alcoholic Beverages) | $2.5M – $5M | 6.0% | 94 |
| 21 | KOALA TREE TRANSPORTATION LLC | Saint Paul, MN | School and Employee Bus Transportation | $250K or less | 4.8% | 91 |
| 22 | 901 THIRD STREET LLC | Minneapolis, MN | Full-Service Restaurants | $1M – $2.5M | 3.8% | 90 |
| 23 | FALLS ACQUISITION COMPANY INC | Little Falls, MN | Machine Shops | $250K – $500K | 5.0% | 87 |
| 24 | MB COMPANIES LLC | Ham Lake, MN | Commercial and Institutional Building Construction | $1M – $2.5M | 6.3% | 86 |
| 25 | STELLHER HUMAN SERVICES INC. | Bemidji, MN | All Other Professional, Scientific, and Technical Services | $250K or less | 5.5% | 80 |
| 26 | LDR HOME CARE LLC | Courtland, MN | Home Health Care Services | $250K – $500K | 5.5% | 80 |
| 27 | COX CULINARY ARTS LLC | Minnetrista, MN | Full-Service Restaurants | $250K – $500K | 2.6% | 80 |
| 28 | NDBC ADMINISTRATIVE SERVICE L | Bloomington, MN | Offices of Other Holding Companies | $500K – $1M | 9.0% | 80 |
| 29 | 1ST CHOICE PROPERTY SERVICES L | Saint Paul, MN | Facilities Support Services | $250K – $500K | 7.3% | 77 |
| 30 | SKIGH DEVELOPMENT LLC | Saint Paul, MN | Services for the Elderly and Persons with Disabilities | $500K – $1M | 4.5% | 77 |
| 31 | AXIS MINNESOTA INC. | Saint Paul, MN | Residential Mental Retardation Facilities | $2.5M – $5M | 5.8% | 76 |
| 32 | J & L HENNUM INC | Baudette, MN | Hotels (except Casino Hotels) and Motels | $2.5M – $5M | 5.3% | 75 |
| 33 | AMERICAN MASONRY INC | Fridley, MN | All Other Specialty Trade Contractors | $2.5M – $5M | 5.0% | 75 |
| 34 | ACTIVEAGINGALLIANCECORPORATION | St Paul, MN | Home Health Care Services | $250K – $500K | 8.3% | 73 |
| 35 | TOWER CAPITAL LLC | Saint Paul, MN | Limited-Service Restaurants | $2.5M – $5M | 5.2% | 72 |
| 36 | GERHARDSON CHIROPRACTIC LLC | Waite Park, MN | Offices of Chiropractors | $250K – $500K | 6.8% | 71 |
| 37 | ENIVA USA INC. | Plymouth, MN | Medicinal and Botanical Manufacturing | $1M – $2.5M | 4.8% | 71 |
| 38 | SUNLIT BEST GREEN ORGANICS LLC | Saint Paul, MN | $250K – $500K | 7.5% | 70 | |
| 39 | EXPRESS IMAGE INC | Saint Paul, MN | Commercial Screen Printing | $500K – $1M | 5.8% | 70 |
| 40 | MO’S TROPICAL LLC | North Saint Paul, MN | Fruit and Vegetable Markets | $2.5M – $5M | 4.5% | 70 |
| 41 | CAPITOL LIEN RECORDS & RESEARC | Saint Paul, MN | Other Activities Related to Real Estate | $1M – $2.5M | 4.0% | 69 |
| 42 | 2210 7TH AVE LLC | Saint Paul, MN | Services for the Elderly and Persons with Disabilities | $1M – $2.5M | 4.5% | 69 |
| 43 | BLACK CAT INVESTMENTS LLC | New Prague, MN | Limited-Service Restaurants | $250K – $500K | 6.9% | 65 |
| 44 | RUACH LLC | Chaska, MN | Limited-Service Restaurants | $500K – $1M | 2.8% | 65 |
| 45 | PARADIGM RESIDENTIAL SERVICES | Zimmerman, MN | Other Residential Care Facilities | $500K – $1M | 5.3% | 65 |
| 46 | DIO INVESTMENT INC. | St Anthony, MN | Lessors of Nonresidential Buildings (except Miniwarehouses) | $1M – $2.5M | 6.5% | 65 |
| 47 | ALDERON INDUSTRIES LLC | Hawley, MN | $1M – $2.5M | 6.8% | 65 | |
| 48 | EVANGELIA WOLD INCORPORATED | White Bear Lake, MN | Home Health Care Services | $250K – $500K | 6.9% | 62 |
| 49 | WOODLANE INC | Rosemount, MN | Full-Service Restaurants | $2.5M – $5M | 5.0% | 62 |
| 50 | VALDES LAWN CARE & SNOW REMOVA | Minneapolis, MN | All Other Personal Services | $250K – $500K | 2.0% | 60 |
| 51 | TZN GROUP LLC | Minneapolis, MN | Caterers | $250K – $500K | 8.0% | 60 |
| 52 | PI SQUARED LLC | Mankato, MN | Limited-Service Restaurants | $1M – $2.5M | 6.3% | 60 |
| 53 | WK BROWN LLC | Minneapolis, MN | Convention and Trade Show Organizers | $2.5M – $5M | 4.8% | 60 |
| 54 | NSP HOSPITALITY INC. | North Saint Paul, MN | Full-Service Restaurants | $500K – $1M | 5.8% | 59 |
| 55 | PT FEHU LLC | Saint Paul, MN | Flower, Nursery Stock, and Florists’ Supplies Merchant Wholesalers | $1M – $2.5M | 7.0% | 58 |
| 56 | OPPORTUNITY COMMUNITY SERVICES | Saint Paul, MN | Residential Mental Retardation Facilities | $250K or less | 5.5% | 57 |
| 57 | MINNESOTA SMOOTHIES AND MORE I | Roseville, MN | $250K – $500K | 5.5% | 56 | |
| 58 | AUFDERWORLD CORPORATION | Plymouth, MN | $500K – $1M | 8.1% | 56 | |
| 59 | PEZZO PER PEZZO – WHITE BEAR L | Saint Paul, MN | Full-Service Restaurants | $250K or less | 9.8% | 55 |
| 60 | PMEP LLC | Eden Prairie, MN | Full-Service Restaurants | $500K – $1M | 6.0% | 51 |
| 61 | SERENITY ROCHESTER INC. | Rochester, MN | Beauty Salons | $1M – $2.5M | 5.3% | 51 |
| 62 | HEIMIE’S HABERDASHERY INC. | Red Wing, MN | Men’s Clothing Stores | $250K or less | 4.5% | 50 |
| 63 | SHORELINE CANDY COMPANY LLC | Excelsior, MN | Confectionery Merchant Wholesalers | $250K or less | 8.8% | 50 |
| 64 | BIG CHIEF INC. | Fergus Falls, MN | $250K – $500K | 8.0% | 50 | |
| 65 | FFSM HOLDINGS SC LLC | Excelsior, MN | Confectionery Merchant Wholesalers | $250K – $500K | 6.0% | 50 |
| 66 | MN MAC & CHEESE LLC | Saint Paul, MN | Limited-Service Restaurants | $250K – $500K | 6.0% | 50 |
| 67 | MARC HEU PATISSERIE PARIS LLC | Saint Paul, MN | Baked Goods Stores | $250K – $500K | 7.5% | 50 |
| 68 | EUREKA KIDS INC | Rochester, MN | Child Day Care Services | $2.5M – $5M | 5.5% | 50 |
| 69 | LAKE COUNTRY GUTTERS LLC | Fridley, MN | Siding Contractors | $250K or less | 5.5% | 48 |
| 70 | WARROAD HOSPITALITY INC | Warroad, MN | Hotels (except Casino Hotels) and Motels | $2.5M – $5M | 7.0% | 48 |
| 71 | BLOCK NORTH LLC | Aitkin, MN | Full-Service Restaurants | $250K or less | 8.0% | 46 |
| 72 | R&R CULTIVATION LLC | New Hope, MN | Mushroom Production | $250K – $500K | 5.5% | 45 |
| 73 | ADAM JADE VENTURES INC. | Watkins, MN | Home Health Care Services | $500K – $1M | 5.5% | 45 |
| 74 | JACON LLC | Vadnais Heights, MN | Other Heavy and Civil Engineering Construction | $1M – $2.5M | 2.8% | 45 |
| 75 | SCHWEGMAN’S CLEANERS LLLP | Willmar, MN | Drycleaning and Laundry Services (except Coin-Operated) | $250K – $500K | 5.0% | 44 |
| 76 | LAKEVILLE BREAKFAST INC. | Lakeville, MN | Full-Service Restaurants | $250K – $500K | 5.5% | 43 |
| 77 | ACMN PROPERTIES LLC | Saint Paul, MN | Homes for the Elderly | $250K or less | 4.5% | 42 |
| 78 | ST. CROIX FITNESS LLC | Lind Lakes, MN | Fitness and Recreational Sports Centers | $250K or less | 9.8% | 42 |
| 79 | LAKE AREA MEMORY CARE LLC | Blaine, MN | Nursing Care Facilities | $250K – $500K | 5.3% | 42 |
| 80 | ACMN PROPERTIES JADE LLC | Minneapolis, MN | Homes for the Elderly | $250K or less | 5.0% | 41 |
| 81 | LCP MEDICAL TECHNOLOGIES LLC | Rogers, MN | Surgical and Medical Instrument Manufacturing | $2.5M – $5M | 7.0% | 41 |
| 82 | CHIAL FIREWOOD AND PROPERTY SE | Chisago City, MN | Landscaping Services | $250K or less | 6.5% | 40 |
| 83 | TRANSLATIONS INTERNATIONAL IN | Minneapolis, MN | Translation and Interpretation Services | $250K or less | 8.8% | 40 |
| 84 | DORGLASS INC. | Minnetonka, MN | Other Construction Material Merchant Wholesalers | $250K or less | 10.0% | 40 |
| 85 | GARRISON REED LLC | Chanhassen, MN | Full-Service Restaurants | $250K or less | 8.5% | 40 |
| 86 | GARRISON REED LLC | Excelsior, MN | Full-Service Restaurants | $250K or less | 8.5% | 40 |
| 87 | CORNERSTONE CUSTOM CONSTRUCTIO | Ramsey, MN | New Single-Family Housing Construction (except Operative Builders) | $250K – $500K | 9.8% | 40 |
| 88 | HANDSAW INC | St Cloud, MN | All Other Miscellaneous Wood Product Manufacturing | $250K – $500K | 6.8% | 40 |
| 89 | THE BARREL HOUSE INC | Coon Rapids, MN | Full-Service Restaurants | $250K – $500K | 4.3% | 40 |
| 90 | SWEETPUPPY – ST CLOUD LLC | Saint Cloud, MN | $500K – $1M | 5.5% | 40 | |
| 91 | PRYES BREWING COMPANY LLC | Minneapolis, MN | Breweries | $1M – $2.5M | 5.5% | 40 |
| 92 | SOUTHEAST ENTERTAINMENT ENTERP | Burnsville, MN | Amusement Arcades | $1M – $2.5M | 6.4% | 40 |
| 93 | STIEGLBAUER L.L.C. | Plymouth, MN | Pet Care (except Veterinary) Services | $2.5M – $5M | 5.3% | 40 |
| 94 | AVENUE KIDS LLC | Saint Paul, MN | Child Day Care Services | $250K or less | 7.0% | 39 |
| 95 | AITKIN AUTO GROUP INC | Aitkin, MN | New Car Dealers | $1M – $2.5M | 6.2% | 39 |
| 96 | ONYX EXTERIORS LLC | Moorhead, MN | Siding Contractors | $250K or less | 5.8% | 38 |
| 97 | ACMN PROPERTIES LLC | Minneapolis, MN | Homes for the Elderly | $250K – $500K | 4.5% | 38 |
| 98 | BGWELLNESS INC. | Minneapolis, MN | Fitness and Recreational Sports Centers | $500K – $1M | 9.0% | 38 |
| 99 | WRIGHT FUNERAL HOME INC | Moorhead, MN | Funeral Homes and Funeral Services | $1M – $2.5M | 5.0% | 38 |
| 100 | NORTHERN POWER PRODUCTS INC. | Eagan, MN | Construction and Mining (except Oil Well) Machinery and Equipment Merc | $2.5M – $5M | 8.3% | 38 |
Note about SBA lenders near me in Minnesota
When it comes to top Minnesota SBA lenders, it’s a common inquiry whether any of the listed banks are 1) included in the Minnesota preferred lender list, 2) approved lenders in Minnesota, or 3) active participants in the Minnesota SBA Express lending program. These queries center around the ability of a given SBA bank to facilitate small business SBA loans in Minnesota swiftly. The answer is an unequivocal yes. These aren’t your run-of-the-mill banks making only a handful of SBA loans annually; these are institutions well-versed in the intricacies of the SBA 7(a) loan program. They stand out as the top performers in Minnesota, as evidenced by our thorough analysis of thousands of SBA loans each year, leading us to rank lenders based on recent activity.
It’s crucial to note that while some banks may limit their lending to specific regions, there exist a select few highly assertive nationwide SBA lenders that operate nationally. These lenders possess a profound understanding of the SBA program and execute transactions with remarkable speed. Therefore, we advise against restricting your search solely to your home state. Our lender match tool proves invaluable in this regard. By utilizing it, we can identify suitable SBA banks tailored to your specific needs, be it geography, industry, company size, all at no cost or obligation to you. This service aims to save you valuable time and ensure a seamless SBA loan process.