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County24th of 87 in Minnesota by approvalsFIPS 27021
SBA loans in Cass 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 70 loans to businesses in Cass County, Minnesota, in FY2021 to FY2025, worth $27.6M: 49 under 7(a) and 21 under 504.
That is 78.6 approvals per 1,000 business establishments (891 establishments in 2023), above the Minnesota figure of 62.4 and above the national 41.0.
It ranks 24th of 87 Minnesota counties with approvals. In FY2025 there were 12.
23 lenders had approvals here; the most active were Midwest Business Finance Corporation (17), Security Bank USA (12) and Old National Bank (9). The most common industry was rv (recreational vehicle) parks and recreational camps.
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 Cass County
By number of approvals to businesses in the county, FY2021–FY2025; 23 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Midwest Business Finance CorporationSt. Cloud, MN · CDC | 17 | $12.6M | 24.3% | |
| 2 | Security Bank USABemidji, MN | 12 | $333K | 17.1% | |
| 3 | Old National BankEvansville, IN | 9 | $4.4M | 12.9% | |
| 4 | National Bank of CommerceSuperior, WI | 4 | $738K | 5.7% | |
| 5 | Central Minnesota Development CompanyAndover, MN · CDC | 3 | $1.9M | 4.3% | |
| 6 | Ultima Bank MinnesotaWinger, MN | 3 | $274K | 4.3% | |
| 7 | The Huntington National BankColumbus, OH | 2 | — | 2.9% | |
| 8 | Bank ForwardFargo, ND | 2 | — | 2.9% | |
| 9 | American National Bank of MinnesotaBaxter, MN | 2 | — | 2.9% | |
| 10 | Pine River State BankPine River, MN | 2 | — | 2.9% | |
| 11 | Western National BankDuluth, MN | 2 | — | 2.9% | |
| 12 | First National Bank NorthWalker, MN | 1 | — | 1.4% | |
| 13 | Platinum BankOakdale, MN | 1 | — | 1.4% | |
| 14 | Dakota Business LendingFargo, ND · CDC | 1 | — | 1.4% | |
| 15 | Woodlands National BankHinckley, MN | 1 | — | 1.4% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | RV (Recreational Vehicle) Parks and Recreational CampsNAICS 7212 | 15 | 21.4% | |
| 2 | Building Material and Supplies DealersNAICS 4441 | 4 | 5.7% | |
| 3 | Grocery StoresNAICS 4451 | 4 | 5.7% | |
| 4 | Restaurants and Other Eating PlacesNAICS 7225 | 4 | 5.7% | |
| 5 | General Freight TruckingNAICS 4841 | 4 | 5.7% | |
| 6 | Continuing Care Retirement Communities and Assisted Living Facilities for the ElderlyNAICS 6233 | 3 | 4.3% | |
| 7 | Traveler AccommodationNAICS 7211 | 3 | 4.3% | |
| 8 | Services to Buildings and DwellingsNAICS 5617 | 3 | 4.3% | |
| 9 | Automotive Repair and MaintenanceNAICS 8111 | 3 | 4.3% | |
| 10 | Specialized Freight TruckingNAICS 4842 | 3 | 4.3% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 23 | 32.9% | |
| 2 | Retail Trade | 11 | 15.7% | |
| 3 | Transportation and Warehousing | 8 | 11.4% | |
| 4 | Manufacturing | 7 | 10.0% | |
| 5 | Other Services (except Public Administration) | 5 | 7.1% | |
| 6 | Health Care and Social Assistance | 4 | 5.7% | |
| 7 | Administrative and Support and Waste Management and Remediation Services | 3 | 4.3% | |
| 8 | Real Estate and Rental and Leasing | 3 | 4.3% |
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* | 5 | $4.5M | $265K | 3 | $1.2M | 8 | 61 |
| FY2025 | 11 | $2.7M | $80K | 1 | — | 12 | 46 |
| FY2024 | 4 | $485K | $122K | 2 | — | 6 | 37 |
| FY2023 | 5 | $2.8M | $350K | 1 | — | 6 | 52 |
| FY2022 | 7 | $3.4M | $250K | 9 | $8.2M | 16 | 76 |
| FY2021 | 22 | $3.0M | $57K | 8 | $4.7M | 30 | 165 |
| FY2020 | 10 | $1.2M | $123K | 2 | — | 12 | 96 |
| FY2019 | 5 | $491K | $75K | 2 | — | 7 | 67 |
| FY2018 | 1 | — | — | 6 | $2.3M | 7 | 15 |
| FY2017 | 8 | $2.6M | $143K | 4 | $2.3M | 12 | 65 |
| FY2016 | 6 | $636K | $76K | 3 | $858K | 9 | 52 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 47 approvals.
Against Minnesota and the country
| FY2021–FY2025 | Cass County | Minnesota | United States |
|---|---|---|---|
| Approvals | 70 | 9,634 | 342,825 |
| Approvals per 1,000 establishments | 78.6 | 62.4 | 41.0 |
| Median 7(a) approval | $89K | $170K | $190K |
| Median 504 approval | $627K | $545K | $657K |
| Average approval | $395K | $497K | $573K |
| 504 share of approvals | 30.0% | 14.8% | 11.0% |
| Jobs supported per approval, as reported | 5.4 | 11.7 | 10.5 |
| Share of state approvals | 0.7% | 100.0% | — |
Approval sizes
- $50,000 or less27.1%19
- $50,001 to $150,00020.0%14
- $150,001 to $350,00021.4%15
- $350,001 to $1 million18.6%13
- $1 million to $2 million11.4%8
- Over $2 million1.4%1
Age of the businesses
- Existing, more than 2 years old45.7%32
- New business, 2 years or less15.7%11
- Startup, loan funds will open the business25.7%18
- Change of ownership12.9%9
Questions and answers
Which lenders make the most SBA loans in Cass County?
By approvals in FY2021 to FY2025: Midwest Business Finance Corporation (17), Security Bank USA (12), Old National Bank (9), National Bank of Commerce (4), Central Minnesota Development Company (3). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Cass County?
The median 7(a) approval was $89K and the median 504 approval $627K; the Minnesota 7(a) median was $170K.
Which industries get the most SBA loans in Cass County?
RV (Recreational Vehicle) Parks and Recreational Camps (15); Building Material and Supplies Dealers (4); Grocery Stores (4); Restaurants and Other Eating Places (4); General Freight Trucking (4).
Is SBA lending in Cass County rising?
Approvals in the three latest complete fiscal years total 24, against 58 in the three before: falling (-59%).
How does Cass County compare with the rest of Minnesota?
78.6 approvals per 1,000 establishments against 62.4 statewide, and 70 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