States › Minnesota › Becker County
County33rd of 87 in Minnesota by approvalsFIPS 27005
SBA loans in Becker County, Minnesota
7(a) and 504 approvals to businesses located in the county, set against the number of businesses there and against the state.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
SBA approved 40 loans to businesses in Becker County, Minnesota, in FY2021 to FY2025, worth $11.7M: 34 under 7(a) and 6 under 504.
That is 41.8 approvals per 1,000 business establishments (956 establishments in 2023), below the Minnesota figure of 62.4 and close to the national 41.0.
It ranks 33rd of 87 Minnesota counties with approvals. In FY2025 there were 10.
19 lenders had approvals here; the most active were Midwest Bank (9), Midwest Business Finance Corporation (5) and Aspire Bank (3). The most common industry was restaurants and other eating places.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Data through 30 Jun 2026.
Lenders most active in Becker County
By number of approvals to businesses in the county, FY2021–FY2025; 19 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Midwest BankDetroit Lakes, MN | 9 | $1,000K | 22.5% | |
| 2 | Midwest Business Finance CorporationSt. Cloud, MN · CDC | 5 | $4.1M | 12.5% | |
| 3 | Aspire BankFargo, ND | 3 | $1.1M | 7.5% | |
| 4 | Mid Minnesota Federal Credit UnionBaxter, MN | 3 | $131K | 7.5% | |
| 5 | Old National BankEvansville, IN | 2 | — | 5.0% | |
| 6 | Ultima Bank MinnesotaWinger, MN | 2 | — | 5.0% | |
| 7 | Bell BankFargo, ND | 2 | — | 5.0% | |
| 8 | My Kind of Bank National AssociationOttertail, MN | 2 | — | 5.0% | |
| 9 | United Community BankPerham, MN | 2 | — | 5.0% | |
| 10 | Frandsen Bank and TrustArden Hills, MN | 1 | — | 2.5% | |
| 11 | Northeast BankLewiston, ME | 1 | — | 2.5% | |
| 12 | The Citizens National Bank of Park RapidsPark Rapids, MN | 1 | — | 2.5% | |
| 13 | Northwestern Bank, National AssociationDilworth, MN | 1 | — | 2.5% | |
| 14 | Celtic Bank CorporationSalt Lake City, UT | 1 | — | 2.5% | |
| 15 | Heritage Bank IncBurlington, KY | 1 | — | 2.5% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 6 | 15.0% | |
| 2 | Architectural and Structural Metals ManufacturingNAICS 3323 | 2 | 5.0% | |
| 3 | Lawn and Garden Equipment and Supplies StoresNAICS 4442 | 2 | 5.0% | |
| 4 | Oilseed and Grain FarmingNAICS 1111 | 2 | 5.0% | |
| 5 | Beverage ManufacturingNAICS 3121 | 2 | 5.0% | |
| 6 | Gasoline StationsNAICS 4471 | 2 | 5.0% | |
| 7 | Petroleum and Petroleum Products Merchant WholesalersNAICS 4247 | 2 | 5.0% | |
| 8 | Other Specialty Trade ContractorsNAICS 2389 | 2 | 5.0% | |
| 9 | Other Amusement and Recreation IndustriesNAICS 7139 | 2 | 5.0% | |
| 10 | Building Finishing ContractorsNAICS 2383 | 2 | 5.0% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Retail Trade | 8 | 20.0% | |
| 2 | Accommodation and Food Services | 8 | 20.0% | |
| 3 | Manufacturing | 6 | 15.0% | |
| 4 | Construction | 5 | 12.5% | |
| 5 | Wholesale Trade | 3 | 7.5% | |
| 6 | Agriculture, Forestry, Fishing and Hunting | 2 | 5.0% | |
| 7 | Administrative and Support and Waste Management and Remediation Services | 2 | 5.0% | |
| 8 | Arts, Entertainment, and Recreation | 2 | 5.0% |
Approvals by fiscal year
| Fiscal year | 7(a) approvals | 7(a) dollars | Median 7(a) | 504 approvals | 504 dollars | All approvals | Jobs supported, as reported |
|---|---|---|---|---|---|---|---|
| FY2026* | 3 | $911K | $250K | 1 | — | 4 | 80 |
| FY2025 | 8 | $3.3M | $225K | 2 | — | 10 | 92 |
| FY2024 | 3 | $224K | $50K | 0 | — | 3 | 6 |
| FY2023 | 7 | $779K | $100K | 2 | — | 9 | 87 |
| FY2022 | 7 | $801K | $75K | 2 | — | 9 | 47 |
| FY2021 | 9 | $2.4M | $184K | 0 | — | 9 | 46 |
| FY2020 | 7 | $910K | $92K | 0 | — | 7 | 17 |
| FY2019 | 10 | $3.6M | $240K | 5 | $2.8M | 15 | 171 |
| FY2018 | 3 | $1.6M | $220K | 0 | — | 3 | 10 |
| FY2017 | 6 | $1.8M | $178K | 3 | $932K | 9 | 70 |
| FY2016 | 5 | $443K | $98K | 2 | — | 7 | 27 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 41 approvals.
Against Minnesota and the country
| FY2021–FY2025 | Becker County | Minnesota | United States |
|---|---|---|---|
| Approvals | 40 | 9,634 | 342,825 |
| Approvals per 1,000 establishments | 41.8 | 62.4 | 41.0 |
| Median 7(a) approval | $134K | $170K | $190K |
| Median 504 approval | $463K | $545K | $657K |
| Average approval | $292K | $497K | $573K |
| 504 share of approvals | 15.0% | 14.8% | 11.0% |
| Jobs supported per approval, as reported | 7.0 | 11.7 | 10.5 |
| Share of state approvals | 0.4% | 100.0% | — |
Approval sizes
- $50,000 or less22.5%9
- $50,001 to $150,00027.5%11
- $150,001 to $350,00030.0%12
- $350,001 to $1 million12.5%5
- $1 million to $2 million7.5%3
Age of the businesses
- Existing, more than 2 years old50.0%20
- New business, 2 years or less15.0%6
- Startup, loan funds will open the business20.0%8
- Change of ownership15.0%6
Questions and answers
Which lenders make the most SBA loans in Becker County?
By approvals in FY2021 to FY2025: Midwest Bank (9), Midwest Business Finance Corporation (5), Aspire Bank (3), Mid Minnesota Federal Credit Union (3), Old National Bank (2). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Becker County?
The median 7(a) approval was $134K and the median 504 approval $463K; the Minnesota 7(a) median was $170K.
Which industries get the most SBA loans in Becker County?
Restaurants and Other Eating Places (6); Architectural and Structural Metals Manufacturing (2); Lawn and Garden Equipment and Supplies Stores (2); Oilseed and Grain Farming (2); Beverage Manufacturing (2).
Is SBA lending in Becker County rising?
Approvals in the three latest complete fiscal years total 22, against 25 in the three before: falling (-12%).
How does Becker County compare with the rest of Minnesota?
41.8 approvals per 1,000 establishments against 62.4 statewide, and 40 of the state's 9,634 approvals.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error