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County14th of 87 in Minnesota by approvalsFIPS 27035
SBA loans in Crow Wing 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 Crow Wing County, Minnesota, received 129 SBA loan approvals worth $96.6M in FY2021 to FY2025 (90 7(a), 39 504).
That is 56.5 approvals per 1,000 business establishments (2,283 establishments in 2023), close to the Minnesota figure of 62.4 and above the national 41.0.
It ranks 14th of 87 Minnesota counties with approvals. In FY2025 there were 23, up 28% on FY2024.
33 lenders had approvals here; the most active were Midwest Business Finance Corporation (38), First Western Bank & Trust (15) and Old National Bank (11). 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 Crow Wing County
By number of approvals to businesses in the county, FY2021–FY2025; 33 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Midwest Business Finance CorporationSt. Cloud, MN · CDC | 38 | $33.2M | 29.5% | |
| 2 | First Western Bank & TrustMinot, ND | 15 | $7.7M | 11.6% | |
| 3 | Old National BankEvansville, IN | 11 | $14.2M | 8.5% | |
| 4 | U.S. Bank, National AssociationCincinnati, OH | 5 | $5.9M | 3.9% | |
| 5 | National Bank of CommerceSuperior, WI | 5 | $2.4M | 3.9% | |
| 6 | Frandsen Bank and TrustArden Hills, MN | 5 | $1.4M | 3.9% | |
| 7 | American National Bank of MinnesotaBaxter, MN | 5 | $435K | 3.9% | |
| 8 | The Huntington National BankColumbus, OH | 4 | $711K | 3.1% | |
| 9 | BankVistaSartell, MN | 3 | $5.9M | 2.3% | |
| 10 | Northeast BankLewiston, ME | 3 | $550K | 2.3% | |
| 11 | Affinity Plus FCUSaint Paul, MN | 3 | $240K | 2.3% | |
| 12 | Hiawatha National BankHager City, WI | 2 | — | 1.6% | |
| 13 | MidCountry BankBloomington, MN | 2 | — | 1.6% | |
| 14 | Falcon National BankFoley, MN | 2 | — | 1.6% | |
| 15 | Pioneer BankMapleton, MN | 2 | — | 1.6% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 12 | 9.3% | |
| 2 | Traveler AccommodationNAICS 7211 | 9 | 7.0% | |
| 3 | RV (Recreational Vehicle) Parks and Recreational CampsNAICS 7212 | 7 | 5.4% | |
| 4 | Automotive Repair and MaintenanceNAICS 8111 | 5 | 3.9% | |
| 5 | Consumer Goods RentalNAICS 5322 | 5 | 3.9% | |
| 6 | Furniture and Home Furnishings RetailersNAICS 4491 | 4 | 3.1% | |
| 7 | Offices of Other Health PractitionersNAICS 6213 | 4 | 3.1% | |
| 8 | Other Personal ServicesNAICS 8129 | 3 | 2.3% | |
| 9 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 3 | 2.3% | |
| 10 | Couriers and Express Delivery ServicesNAICS 4921 | 3 | 2.3% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 31 | 24.0% | |
| 2 | Manufacturing | 17 | 13.2% | |
| 3 | Retail Trade | 15 | 11.6% | |
| 4 | Other Services (except Public Administration) | 13 | 10.1% | |
| 5 | Health Care and Social Assistance | 11 | 8.5% | |
| 6 | Construction | 10 | 7.8% | |
| 7 | Wholesale Trade | 7 | 5.4% | |
| 8 | Professional, Scientific, and Technical Services | 6 | 4.7% |
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* | 7 | $4.9M | $464K | 4 | $8.6M | 11 | 80 |
| FY2025 | 16 | $15.9M | $265K | 7 | $4.2M | 23 | 182 |
| FY2024 | 14 | $12.4M | $158K | 4 | $2.2M | 18 | 228 |
| FY2023 | 6 | $6.2M | $318K | 5 | $5.6M | 11 | 127 |
| FY2022 | 18 | $4.9M | $145K | 13 | $10.9M | 31 | 245 |
| FY2021 | 36 | $23.9M | $276K | 10 | $10.5M | 46 | 637 |
| FY2020 | 31 | $11.1M | $150K | 13 | $6.1M | 44 | 304 |
| FY2019 | 22 | $6.6M | $98K | 8 | $4.8M | 30 | 285 |
| FY2018 | 20 | $3.5M | $61K | 5 | $2.2M | 25 | 199 |
| FY2017 | 23 | $4.3M | $78K | 7 | $6.2M | 30 | 381 |
| FY2016 | 26 | $8.4M | $113K | 13 | $6.0M | 39 | 314 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 168 approvals.
Against Minnesota and the country
| FY2021–FY2025 | Crow Wing County | Minnesota | United States |
|---|---|---|---|
| Approvals | 129 | 9,634 | 342,825 |
| Approvals per 1,000 establishments | 56.5 | 62.4 | 41.0 |
| Median 7(a) approval | $200K | $170K | $190K |
| Median 504 approval | $523K | $545K | $657K |
| Average approval | $749K | $497K | $573K |
| 504 share of approvals | 30.2% | 14.8% | 11.0% |
| Jobs supported per approval, as reported | 11.0 | 11.7 | 10.5 |
| Share of state approvals | 1.3% | 100.0% | — |
Approval sizes
- $50,000 or less12.4%16
- $50,001 to $150,00017.1%22
- $150,001 to $350,00025.6%33
- $350,001 to $1 million25.6%33
- $1 million to $2 million8.5%11
- Over $2 million10.9%14
Age of the businesses
- Existing, more than 2 years old45.0%58
- New business, 2 years or less14.7%19
- Startup, loan funds will open the business27.9%36
- Change of ownership12.4%16
Questions and answers
Which lenders make the most SBA loans in Crow Wing County?
By approvals in FY2021 to FY2025: Midwest Business Finance Corporation (38), First Western Bank & Trust (15), Old National Bank (11), U.S. Bank, National Association (5), National Bank of Commerce (5). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Crow Wing County?
The median 7(a) approval was $200K and the median 504 approval $523K; the Minnesota 7(a) median was $170K.
Which industries get the most SBA loans in Crow Wing County?
Restaurants and Other Eating Places (12); Traveler Accommodation (9); RV (Recreational Vehicle) Parks and Recreational Camps (7); Automotive Repair and Maintenance (5); Consumer Goods Rental (5).
Is SBA lending in Crow Wing County rising?
Approvals in the three latest complete fiscal years total 52, against 121 in the three before: falling (-57%).
How does Crow Wing County compare with the rest of Minnesota?
56.5 approvals per 1,000 establishments against 62.4 statewide, and 129 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