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County13th of 87 in Minnesota by approvalsFIPS 27007
SBA loans in Beltrami 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 132 loans to businesses in Beltrami County, Minnesota, in FY2021 to FY2025, worth $35.3M: 114 under 7(a) and 18 under 504.
That is 105.6 approvals per 1,000 business establishments (1,250 establishments in 2023), above the Minnesota figure of 62.4 and above the national 41.0.
It ranks 13th of 87 Minnesota counties with approvals. In FY2025 there were 14, down 30% on FY2024.
15 lenders had approvals here; the most active were Security Bank USA (71), Ultima Bank Minnesota (31) and Midwest Business Finance Corporation (11). The most common industry was cattle ranching and farming.
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 Beltrami County
By number of approvals to businesses in the county, FY2021–FY2025; 15 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Security Bank USABemidji, MN | 71 | $9.9M | 53.8% | |
| 2 | Ultima Bank MinnesotaWinger, MN | 31 | $6.8M | 23.5% | |
| 3 | Midwest Business Finance CorporationSt. Cloud, MN · CDC | 11 | $10.6M | 8.3% | |
| 4 | Central Minnesota Development CompanyAndover, MN · CDC | 5 | $4.0M | 3.8% | |
| 5 | BankVistaSartell, MN | 3 | $550K | 2.3% | |
| 6 | Affinity Plus FCUSaint Paul, MN | 2 | — | 1.5% | |
| 7 | Choice Financial GroupFargo, ND | 1 | — | 0.8% | |
| 8 | Twin Cities-Metro Certified Development CompanyVadnais Heights, MN · CDC | 1 | — | 0.8% | |
| 9 | Amplio Economic Development CorporationArden Hills, MN · CDC | 1 | — | 0.8% | |
| 10 | The Huntington National BankColumbus, OH | 1 | — | 0.8% | |
| 11 | Newtek Bank, National AssociationMiami, FL | 1 | — | 0.8% | |
| 12 | The First National Bank of BemidjiBemidji, MN | 1 | — | 0.8% | |
| 13 | Northeast BankLewiston, ME | 1 | — | 0.8% | |
| 14 | The Citizens National Bank of Park RapidsPark Rapids, MN | 1 | — | 0.8% | |
| 15 | Wells Fargo Bank National AssociationSioux Falls, SD | 1 | — | 0.8% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Cattle Ranching and FarmingNAICS 1121 | 13 | 9.8% | |
| 2 | Specialized Freight TruckingNAICS 4842 | 10 | 7.6% | |
| 3 | Other Specialty Trade ContractorsNAICS 2389 | 9 | 6.8% | |
| 4 | General Freight TruckingNAICS 4841 | 7 | 5.3% | |
| 5 | Restaurants and Other Eating PlacesNAICS 7225 | 6 | 4.5% | |
| 6 | RV (Recreational Vehicle) Parks and Recreational CampsNAICS 7212 | 6 | 4.5% | |
| 7 | Other Amusement and Recreation IndustriesNAICS 7139 | 6 | 4.5% | |
| 8 | Services to Buildings and DwellingsNAICS 5617 | 5 | 3.8% | |
| 9 | Automotive Repair and MaintenanceNAICS 8111 | 4 | 3.0% | |
| 10 | Special Food ServicesNAICS 7223 | 4 | 3.0% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Transportation and Warehousing | 20 | 15.2% | |
| 2 | Agriculture, Forestry, Fishing and Hunting | 19 | 14.4% | |
| 3 | Accommodation and Food Services | 18 | 13.6% | |
| 4 | Retail Trade | 15 | 11.4% | |
| 5 | Construction | 13 | 9.8% | |
| 6 | Manufacturing | 8 | 6.1% | |
| 7 | Other Services (except Public Administration) | 8 | 6.1% | |
| 8 | Administrative and Support and Waste Management and Remediation Services | 7 | 5.3% |
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* | 6 | $2.4M | $198K | 3 | $3.3M | 9 | 34 |
| FY2025 | 11 | $1.1M | $100K | 3 | $5.9M | 14 | 148 |
| FY2024 | 18 | $3.1M | $110K | 2 | — | 20 | 137 |
| FY2023 | 17 | $3.1M | $85K | 1 | — | 18 | 60 |
| FY2022 | 22 | $4.2M | $53K | 8 | $4.1M | 30 | 236 |
| FY2021 | 46 | $7.9M | $56K | 4 | $3.5M | 50 | 228 |
| FY2020 | 58 | $6.4M | $63K | 6 | $3.2M | 64 | 281 |
| FY2019 | 49 | $12.1M | $100K | 5 | $2.5M | 54 | 497 |
| FY2018 | 16 | $1.4M | $56K | 9 | $6.4M | 25 | 188 |
| FY2017 | 12 | $2.0M | $30K | 1 | — | 13 | 97 |
| FY2016 | 22 | $2.0M | $55K | 4 | $3.9M | 26 | 169 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 182 approvals.
Against Minnesota and the country
| FY2021–FY2025 | Beltrami County | Minnesota | United States |
|---|---|---|---|
| Approvals | 132 | 9,634 | 342,825 |
| Approvals per 1,000 establishments | 105.6 | 62.4 | 41.0 |
| Median 7(a) approval | $80K | $170K | $190K |
| Median 504 approval | $442K | $545K | $657K |
| Average approval | $268K | $497K | $573K |
| 504 share of approvals | 13.6% | 14.8% | 11.0% |
| Jobs supported per approval, as reported | 6.1 | 11.7 | 10.5 |
| Share of state approvals | 1.4% | 100.0% | — |
Approval sizes
- $50,000 or less32.6%43
- $50,001 to $150,00031.1%41
- $150,001 to $350,00017.4%23
- $350,001 to $1 million13.6%18
- $1 million to $2 million3.8%5
- Over $2 million1.5%2
Age of the businesses
- Existing, more than 2 years old60.6%80
- New business, 2 years or less19.7%26
- Startup, loan funds will open the business15.9%21
- Change of ownership3.8%5
Questions and answers
Which lenders make the most SBA loans in Beltrami County?
By approvals in FY2021 to FY2025: Security Bank USA (71), Ultima Bank Minnesota (31), Midwest Business Finance Corporation (11), Central Minnesota Development Company (5), BankVista (3). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Beltrami County?
The median 7(a) approval was $80K and the median 504 approval $442K; the Minnesota 7(a) median was $170K.
Which industries get the most SBA loans in Beltrami County?
Cattle Ranching and Farming (13); Specialized Freight Trucking (10); Other Specialty Trade Contractors (9); General Freight Trucking (7); Restaurants and Other Eating Places (6).
Is SBA lending in Beltrami County rising?
Approvals in the three latest complete fiscal years total 52, against 144 in the three before: falling (-64%).
How does Beltrami County compare with the rest of Minnesota?
105.6 approvals per 1,000 establishments against 62.4 statewide, and 132 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