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County11th of 87 in Minnesota by approvalsFIPS 27019
SBA loans in Carver 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.
Businesses in Carver County, Minnesota, received 177 SBA loan approvals worth $88.2M in FY2021 to FY2025 (158 7(a), 19 504).
That is 65.2 approvals per 1,000 business establishments (2,714 establishments in 2023), close to the Minnesota figure of 62.4 and above the national 41.0.
It ranks 11th of 87 Minnesota counties with approvals. In FY2025 there were 40, about level with FY2024.
46 lenders had approvals here; the most active were U.S. Bank, National Association (24), BankVista (21) and Old National Bank (13). 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 Carver County
By number of approvals to businesses in the county, FY2021–FY2025; 46 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | U.S. Bank, National AssociationCincinnati, OH | 24 | $2.5M | 13.6% | |
| 2 | BankVistaSartell, MN | 21 | $5.0M | 11.9% | |
| 3 | Old National BankEvansville, IN | 13 | $12.1M | 7.3% | |
| 4 | The Huntington National BankColumbus, OH | 11 | $3.4M | 6.2% | |
| 5 | Wells Fargo Bank National AssociationSioux Falls, SD | 10 | $5.1M | 5.6% | |
| 6 | Amplio Economic Development CorporationArden Hills, MN · CDC | 9 | $5.0M | 5.1% | |
| 7 | Frandsen Bank and TrustArden Hills, MN | 7 | $2.6M | 4.0% | |
| 8 | Twin Cities-Metro Certified Development CompanyVadnais Heights, MN · CDC | 5 | $6.9M | 2.8% | |
| 9 | Platinum BankOakdale, MN | 5 | $3.7M | 2.8% | |
| 10 | 21st Century BankLoretto, MN | 5 | $2.0M | 2.8% | |
| 11 | Highland BankSt. Paul, MN | 5 | $2.0M | 2.8% | |
| 12 | Drake BankSaint Paul, MN | 4 | $1.0M | 2.3% | |
| 13 | Choice Financial GroupFargo, ND | 4 | $548K | 2.3% | |
| 14 | Northeast BankLewiston, ME | 4 | $329K | 2.3% | |
| 15 | Associated Bank National AssociationGreen Bay, WI | 3 | $4.6M | 1.7% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 23 | 13.0% | |
| 2 | Services to Buildings and DwellingsNAICS 5617 | 10 | 5.6% | |
| 3 | Offices of Other Health PractitionersNAICS 6213 | 8 | 4.5% | |
| 4 | Automotive Repair and MaintenanceNAICS 8111 | 7 | 4.0% | |
| 5 | Building Equipment ContractorsNAICS 2382 | 7 | 4.0% | |
| 6 | Management, Scientific, and Technical Consulting ServicesNAICS 5416 | 7 | 4.0% | |
| 7 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 5 | 2.8% | |
| 8 | Agencies, Brokerages, and Other Insurance Related ActivitiesNAICS 5242 | 5 | 2.8% | |
| 9 | Other Amusement and Recreation IndustriesNAICS 7139 | 5 | 2.8% | |
| 10 | Other Food ManufacturingNAICS 3119 | 5 | 2.8% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 25 | 14.1% | |
| 2 | Manufacturing | 24 | 13.6% | |
| 3 | Construction | 18 | 10.2% | |
| 4 | Professional, Scientific, and Technical Services | 18 | 10.2% | |
| 5 | Health Care and Social Assistance | 17 | 9.6% | |
| 6 | Administrative and Support and Waste Management and Remediation Services | 16 | 9.0% | |
| 7 | Other Services (except Public Administration) | 13 | 7.3% | |
| 8 | Retail Trade | 12 | 6.8% |
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* | 19 | $10.2M | $168K | 1 | — | 20 | 212 |
| FY2025 | 38 | $7.4M | $100K | 2 | — | 40 | 288 |
| FY2024 | 41 | $17.3M | $150K | 2 | — | 43 | 287 |
| FY2023 | 22 | $7.5M | $215K | 1 | — | 23 | 330 |
| FY2022 | 30 | $17.9M | $247K | 6 | $7.4M | 36 | 663 |
| FY2021 | 27 | $20.8M | $300K | 8 | $3.3M | 35 | 390 |
| FY2020 | 31 | $12.9M | $365K | 5 | $3.1M | 36 | 611 |
| FY2019 | 25 | $7.2M | $132K | 8 | $11.8M | 33 | 467 |
| FY2018 | 37 | $18.6M | $150K | 10 | $9.5M | 47 | 753 |
| FY2017 | 45 | $18.8M | $125K | 7 | $5.3M | 52 | 661 |
| FY2016 | 38 | $16.8M | $115K | 4 | $2.2M | 42 | 560 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 210 approvals.
Against Minnesota and the country
| FY2021–FY2025 | Carver County | Minnesota | United States |
|---|---|---|---|
| Approvals | 177 | 9,634 | 342,825 |
| Approvals per 1,000 establishments | 65.2 | 62.4 | 41.0 |
| Median 7(a) approval | $192K | $170K | $190K |
| Median 504 approval | $548K | $545K | $657K |
| Average approval | $498K | $497K | $573K |
| 504 share of approvals | 10.7% | 14.8% | 11.0% |
| Jobs supported per approval, as reported | 11.1 | 11.7 | 10.5 |
| Share of state approvals | 1.8% | 100.0% | — |
Approval sizes
- $50,000 or less22.0%39
- $50,001 to $150,00019.2%34
- $150,001 to $350,00022.0%39
- $350,001 to $1 million26.0%46
- $1 million to $2 million5.6%10
- Over $2 million5.1%9
Age of the businesses
- Existing, more than 2 years old50.3%89
- New business, 2 years or less20.3%36
- Startup, loan funds will open the business17.5%31
- Change of ownership11.9%21
Questions and answers
Which lenders make the most SBA loans in Carver County?
By approvals in FY2021 to FY2025: U.S. Bank, National Association (24), BankVista (21), Old National Bank (13), The Huntington National Bank (11), Wells Fargo Bank National Association (10). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Carver County?
The median 7(a) approval was $192K and the median 504 approval $548K; the Minnesota 7(a) median was $170K.
Which industries get the most SBA loans in Carver County?
Restaurants and Other Eating Places (23); Services to Buildings and Dwellings (10); Offices of Other Health Practitioners (8); Automotive Repair and Maintenance (7); Building Equipment Contractors (7).
Is SBA lending in Carver County rising?
Approvals in the three latest complete fiscal years total 106, against 107 in the three before: broadly level (-1%).
How does Carver County compare with the rest of Minnesota?
65.2 approvals per 1,000 establishments against 62.4 statewide, and 177 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