Top SBA lenders in Minnesota

138 lenders approved 1,399 SBA 7(a) loans worth $613.0M for Minnesota businesses in FY2025. U.S. Bank National Association leads with 10.5%.

Minnesota league table, FY2025 ranked by dollars approved · by project location

#	Lender	HQ state	Approved	Loans	Avg loan	Share
1	U.S. Bank National Association	OH	$64.2M	233	$275K	10.5%
2	Old National Bank	IN	$54.7M	75	$730K	8.9%
3	The Huntington National Bank	OH	$30.8M	147	$210K	5.0%
4	Platinum Bank	MN	$30.7M	34	$902K	5.0%
5	Falcon National Bank	MN	$24.6M	42	$585K	4.0%
6	Frandsen Bank & Trust	MN	$23.6M	46	$513K	3.9%
7	First Resource Bank	MN	$23.5M	34	$691K	3.8%
8	BankVista	MN	$19.4M	55	$353K	3.2%
9	First Bank & Trust	SD	$19.2M	31	$619K	3.1%
10	Live Oak Banking Company	NC	$18.3M	15	$1.2M	3.0%
11	Alerus Financial, National Association	ND	$16.7M	15	$1.1M	2.7%
12	Minnwest Bank	MN	$15.7M	26	$603K	2.6%
13	Associated Bank, National Association	WI	$12.9M	15	$860K	2.1%
14	Drake Bank	MN	$11.4M	15	$760K	1.9%
15	Bell Bank	ND	$11.0M	25	$441K	1.8%
16	Choice Financial Group	ND	$10.8M	17	$634K	1.8%
17	Sunrise Banks, National Association	SD	$9.8M	20	$490K	1.6%
18	Northeast Bank	MN	$9.5M	14	$680K	1.6%
19	Stearns Bank National Association	MN	$8.5M	20	$425K	1.4%
20	CCFBank National Association	WI	$8.3M	4	$2.1M	1.4%
21	21st Century Bank	MN	$8.3M	19	$435K	1.4%
22	First Bank of the Lake	MO	$8.0M	9	$888K	1.3%
23	Tradition Capital Bank	MN	$7.4M	6	$1.2M	1.2%
24	Fifth Third Bank, National Association	OH	$5.7M	2	$2.8M	0.9%
25	Northeast Bank	ME	$5.3M	35	$152K	0.9%

Showing the top 25 of 138 lenders active in Minnesota.

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Minnesota SBA 7(a) volume by year

Line	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026 to date
Approved	$538.9M	$883.6M	$582.0M	$576.7M	$627.7M	$613.0M	$352.1M
Loans	1,401	1,769	1,337	1,447	1,477	1,399	700
Active lenders	168	168	155	178	154	138	112

Working Minnesota?

11 of the lenders shown are headquartered in Minnesota. See who holds the deposits in Minnesota, or screen the state’s banks and credit unions by ratio.

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