SBA Lenders Actively Funding Businesses in Minnesota
Since 2020, 444 different SBA lenders have approved16,482 loans for businesses in Minnesota. The table below ranks the most active by loans actually made in the state, not by advertising budget. A lender headquartered elsewhere that funds heavily in Minnesotabeats a local name that rarely writes SBA loans.
Most active SBA lenders in Minnesota
| Lender | MN loans since 2020 | Median loan | Median rate |
|---|---|---|---|
| Midwest Business Finance Corporation | 1,550 | $390K | n/a |
| U.S. Bank, National Association | 1,073 | $45K | 8.51% |
| Twin Cities-Metro Certified Development Company | 1,040 | $465K | n/a |
| The Huntington National Bank | 630 | $95K | 9.5% |
| BankVista | 515 | $256K | 7.38% |
| Old National Bank | 455 | $500K | 7.5% |
| Wells Fargo Bank National Association | 301 | $15K | 9.75% |
| Frandsen Bank and Trust | 274 | $335K | 8.5% |
| Platinum Bank | 216 | $500K | 9.75% |
| Falcon National Bank | 212 | $403K | 8.38% |
| Northeast Bank | 161 | $103K | 10.75% |
| Magnifi Financial CU | 132 | $234K | 10.25% |
| WBD, Inc. | 130 | $518K | n/a |
| Bell Bank | 114 | $390K | 8.75% |
| First Bank & Trust | 101 | $400K | 9% |
| First Resource Bank | 97 | $308K | 9.25% |
| Live Oak Banking Company | 84 | $785K | 8.35% |
| BayFirst National Bank | 83 | $150K | 12.25% |
| Alerus Financial, National Association | 79 | $500K | 7% |
| Associated Bank National Association | 78 | $268K | 7.83% |
| Readycap Lending, LLC | 77 | $150K | 11.25% |
| Stearns Bank National Association | 71 | $225K | 9% |
| Dakota Business Lending | 60 | $382K | n/a |
| Byline Bank | 59 | $800K | 9.5% |
| Newtek Bank, National Association | 58 | $200K | 11.25% |
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Start your funding profile →Sources and limits. Derived from U.S. Small Business Administration 7(a) and 504 FOIA loan-level records. Loan counts reflect projects located in Minnesota. Figures describe past lending activity only and are not offers, quotes, or qualification decisions. Big Brain Funding is not a lender and is not affiliated with any lender listed.