Top SBA Acquisition Lenders in Minnesota
53 active SBA 7(a) lenders in Minnesota, ranked by acquisition loan count.
Lenders
in Minnesota
Total Volume
Median Rate
Median Loan Size
Top Lenders in Minnesota
Lending by Industry in Minnesota
Covers the 111 of 198 Minnesota loans that the FOIA dataset reports at the state and industry level.
Top 25 Lenders in Minnesota
| # | Lender | Loans | Volume | Rate | Default Rate |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 29 | $32.7M | P+2.25% | 1.5% |
| 2 | BankVista | 17 | $9.8M | P+2.00% | 3.2% |
| 3 | Frandsen Bank & Trust | 17 | $15.8M | P+2.50% | 0.0% |
| 4 | First Resource Bank | 11 | $17.0M | P+1.75% | 0.0% |
| 5 | Old National Bank | 9 | $13.7M | P+0.30% | 2.4% |
| 6 | Falcon National Bank | 6 | $3.9M | P+1.75% | 0.0% |
| 7 | Minnwest Bank | 6 | $6.2M | P+2.63% | 0.0% |
| 8 | Bell Bank | 6 | $2.2M | P+2.00% | 0.0% |
| 9 | First Bank & Trust | 5 | $7.8M | P+1.95% | 7.7% |
| 10 | Citizens Community Federal National Association | 5 | $9.3M | P+2.00% | 1.8% |
| 11 | City & County CU | 4 | $2.8M | P+0.00% | 0.0% |
| 12 | Associated Bank, National Association | 4 | $2.2M | P+0.67% | 0.0% |
| 13 | Drake Bank | 4 | $1.4M | P+2.00% | 0.0% |
| 14 | Scale Bank | 4 | $2.4M | P+0.75% | 0.0% |
| 15 | Alerus Financial, National Association | 4 | $8.8M | P+2.00% | 1.7% |
| 16 | Live Oak Bank | 4 | $2.3M | P+1.50% | 0.8% |
| 17 | Wells Fargo Bank | 3 | $1.5M | P+0.00% | 5.6% |
| 18 | United Prairie Bank | 3 | $3.4M | P+2.00% | 0.0% |
| 19 | Community Savings Bank | 3 | $3.4M | P+0.75% | 0.0% |
| 20 | First National Bank North | 3 | $4.3M | P+2.00% | 0.0% |
| 21 | First Bank of the Lake | 3 | $3.3M | P+2.50% | 1.9% |
| 22 | Tradition Capital Bank | 3 | $9.6M | P+2.00% | 0.0% |
| 23 | CRF Small Business Loan Company, LLC | 3 | $2.6M | P+2.75% | 7.0% |
| 24 | American National Bank | 3 | $1.4M | P+1.25% | 2.1% |
| 25 | Sentry Bank | 2 | $3.7M | P+1.00% | 0.0% |
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Customize your search →SBA 7(a) Lending in Minnesota
Minnesota has 53 active SBA 7(a) acquisition lenders that have originated a combined 198 loans totaling $207.7M in volume. The median acquisition loan size in Minnesota is $768K, with a median interest rate of Prime + 1.75% (Prime + spread).
When evaluating SBA lenders in Minnesota, consider loan volume (a proxy for experience), interest rates, and historical default rates. Lenders designated as PLP (Preferred Lender Program) have delegated authority from the SBA to approve loans, which typically results in faster processing times.
Frequently Asked Questions
How many SBA 7(a) lenders are active in Minnesota?
There are currently 53 active SBA 7(a) lenders in Minnesota based on FOIA lending data. These lenders have originated 198 acquisition loans.
What is the typical SBA loan rate in Minnesota?
The median SBA 7(a) acquisition loan rate in Minnesota is Prime + 1.75% (current Prime rate: 6.75%). Rates are typically expressed as Prime plus a spread, with the SBA capping the spread at 3.0% for loans over $250,000.
What is a PLP lender?
A PLP (Preferred Lender Program) lender has been granted delegated authority by the SBA to make credit decisions without prior SBA review. This typically means faster loan processing and approval timelines.
Data source: SBA 7(a) FOIA lending data. Rankings are based on loan count within the selected dimension. Rates shown are median interest rates expressed as Prime + spread. Default rates represent 10-year cumulative default rates. Data is refreshed periodically and may not reflect the most recent lending activity.
Figures shown here are historical SBA 7(a) lending data presented for general information only. They are not an offer of credit, a prediction of the terms you will receive, or financial advice. VerSquare is not a licensed broker, lender, or financial advisor. Consult a licensed professional before making a financing decision.