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County20th of 87 in Minnesota by approvalsFIPS 27041
SBA loans in Douglas 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 Douglas County, Minnesota, received 88 SBA loan approvals worth $50.1M in FY2021 to FY2025 (67 7(a), 21 504).
That is 63.1 approvals per 1,000 business establishments (1,394 establishments in 2023), close to the Minnesota figure of 62.4 and above the national 41.0.
It ranks 20th of 87 Minnesota counties with approvals. In FY2025 there were 14, about level with FY2024.
24 lenders had approvals here; the most active were Vantage Bank (18), Old National Bank (13) and Amplio Economic Development Corporation (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 Douglas County
By number of approvals to businesses in the county, FY2021–FY2025; 24 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Vantage BankKent, MN | 18 | $2.8M | 20.5% | |
| 2 | Old National BankEvansville, IN | 13 | $8.7M | 14.8% | |
| 3 | Amplio Economic Development CorporationArden Hills, MN · CDC | 11 | $4.0M | 12.5% | |
| 4 | Midwest Business Finance CorporationSt. Cloud, MN · CDC | 7 | $10.7M | 8.0% | |
| 5 | Viking Bank National AssociationAlexandria, MN | 6 | $1.5M | 6.8% | |
| 6 | First Western Bank & TrustMinot, ND | 5 | $4.1M | 5.7% | |
| 7 | Glenwood State Bank IncorporatedGlenwood, MN | 4 | $4.7M | 4.5% | |
| 8 | The Huntington National BankColumbus, OH | 2 | — | 2.3% | |
| 9 | Magnifi Financial CUMelrose, MN | 2 | — | 2.3% | |
| 10 | BankVistaSartell, MN | 2 | — | 2.3% | |
| 11 | Dakota Business LendingFargo, ND · CDC | 2 | — | 2.3% | |
| 12 | Bell BankFargo, ND | 2 | — | 2.3% | |
| 13 | American National Bank of MinnesotaBaxter, MN | 2 | — | 2.3% | |
| 14 | U.S. Bank, National AssociationCincinnati, OH | 2 | — | 2.3% | |
| 15 | American Federal BankFargo, ND | 1 | — | 1.1% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 7 | 8.0% | |
| 2 | Special Food ServicesNAICS 7223 | 4 | 4.5% | |
| 3 | Traveler AccommodationNAICS 7211 | 3 | 3.4% | |
| 4 | Other Specialty Trade ContractorsNAICS 2389 | 3 | 3.4% | |
| 5 | Clothing and Clothing Accessories RetailersNAICS 4581 | 3 | 3.4% | |
| 6 | Lumber and Other Construction Materials Merchant WholesalersNAICS 4233 | 3 | 3.4% | |
| 7 | Utility System ConstructionNAICS 2371 | 3 | 3.4% | |
| 8 | General Freight TruckingNAICS 4841 | 3 | 3.4% | |
| 9 | Agencies, Brokerages, and Other Insurance Related ActivitiesNAICS 5242 | 3 | 3.4% | |
| 10 | Building Equipment ContractorsNAICS 2382 | 3 | 3.4% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 15 | 17.0% | |
| 2 | Construction | 14 | 15.9% | |
| 3 | Retail Trade | 14 | 15.9% | |
| 4 | Manufacturing | 10 | 11.4% | |
| 5 | Other Services (except Public Administration) | 9 | 10.2% | |
| 6 | Transportation and Warehousing | 7 | 8.0% | |
| 7 | Wholesale Trade | 6 | 6.8% | |
| 8 | Finance and Insurance | 3 | 3.4% |
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 | $5.3M | $86K | 1 | — | 6 | 47 |
| FY2025 | 12 | $6.4M | $137K | 2 | — | 14 | 122 |
| FY2024 | 11 | $14.4M | $450K | 4 | $6.0M | 15 | 207 |
| FY2023 | 10 | $2.3M | $141K | 3 | $548K | 13 | 105 |
| FY2022 | 16 | $2.2M | $150K | 5 | $5.1M | 21 | 179 |
| FY2021 | 18 | $8.2M | $262K | 7 | $3.4M | 25 | 181 |
| FY2020 | 22 | $2.7M | $50K | 8 | $3.0M | 30 | 247 |
| FY2019 | 12 | $1.2M | $80K | 7 | $3.8M | 19 | 115 |
| FY2018 | 9 | $3.0M | $94K | 3 | $1.1M | 12 | 129 |
| FY2017 | 15 | $1.4M | $43K | 2 | — | 17 | 86 |
| FY2016 | 11 | $3.2M | $149K | 1 | — | 12 | 134 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 90 approvals.
Against Minnesota and the country
| FY2021–FY2025 | Douglas County | Minnesota | United States |
|---|---|---|---|
| Approvals | 88 | 9,634 | 342,825 |
| Approvals per 1,000 establishments | 63.1 | 62.4 | 41.0 |
| Median 7(a) approval | $180K | $170K | $190K |
| Median 504 approval | $526K | $545K | $657K |
| Average approval | $569K | $497K | $573K |
| 504 share of approvals | 23.9% | 14.8% | 11.0% |
| Jobs supported per approval, as reported | 9.0 | 11.7 | 10.5 |
| Share of state approvals | 0.9% | 100.0% | — |
Approval sizes
- $50,000 or less20.5%18
- $50,001 to $150,00015.9%14
- $150,001 to $350,00030.7%27
- $350,001 to $1 million20.5%18
- $1 million to $2 million5.7%5
- Over $2 million6.8%6
Age of the businesses
- Existing, more than 2 years old46.6%41
- New business, 2 years or less13.6%12
- Startup, loan funds will open the business22.7%20
- Change of ownership17.0%15
Questions and answers
Which lenders make the most SBA loans in Douglas County?
By approvals in FY2021 to FY2025: Vantage Bank (18), Old National Bank (13), Amplio Economic Development Corporation (11), Midwest Business Finance Corporation (7), Viking Bank National Association (6). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Douglas County?
The median 7(a) approval was $180K and the median 504 approval $526K; the Minnesota 7(a) median was $170K.
Which industries get the most SBA loans in Douglas County?
Restaurants and Other Eating Places (7); Special Food Services (4); Traveler Accommodation (3); Other Specialty Trade Contractors (3); Clothing and Clothing Accessories Retailers (3).
Is SBA lending in Douglas County rising?
Approvals in the three latest complete fiscal years total 42, against 76 in the three before: falling (-45%).
How does Douglas County compare with the rest of Minnesota?
63.1 approvals per 1,000 establishments against 62.4 statewide, and 88 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