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County29th of 87 in Minnesota by approvalsFIPS 27049
SBA loans in Goodhue 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 Goodhue County, Minnesota, received 48 SBA loan approvals worth $18.3M in FY2021 to FY2025 (35 7(a), 13 504).
That is 37.1 approvals per 1,000 business establishments (1,294 establishments in 2023), below the Minnesota figure of 62.4 and close to the national 41.0.
It ranks 29th of 87 Minnesota counties with approvals. In FY2025 there were 11.
24 lenders had approvals here; the most active were Midwest Business Finance Corporation (8), Twin Cities-Metro Certified Development Company (4) and Affinity Plus FCU (3). The most common industry was other amusement and recreation industries.
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 Goodhue County
By number of approvals to businesses in the county, FY2021–FY2025; 24 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Midwest Business Finance CorporationSt. Cloud, MN · CDC | 8 | $2.7M | 16.7% | |
| 2 | Twin Cities-Metro Certified Development CompanyVadnais Heights, MN · CDC | 4 | $2.7M | 8.3% | |
| 3 | Affinity Plus FCUSaint Paul, MN | 3 | $768K | 6.3% | |
| 4 | BayFirst National BankSaint Petersburg, FL | 3 | $372K | 6.3% | |
| 5 | U.S. Bank, National AssociationCincinnati, OH | 3 | $46K | 6.3% | |
| 6 | Centerstone SBA Lending, Inc.Los Angeles, CA | 2 | — | 4.2% | |
| 7 | Live Oak Banking CompanyWilmington, NC | 2 | — | 4.2% | |
| 8 | Woodlands National BankHinckley, MN | 2 | — | 4.2% | |
| 9 | Frandsen Bank and TrustArden Hills, MN | 2 | — | 4.2% | |
| 10 | Associated Bank National AssociationGreen Bay, WI | 2 | — | 4.2% | |
| 11 | BankVistaSartell, MN | 2 | — | 4.2% | |
| 12 | Sunrise Banks National AssociationSaint Paul, MN | 2 | — | 4.2% | |
| 13 | Community Resource BankNorthfield, MN | 2 | — | 4.2% | |
| 14 | Old National BankEvansville, IN | 1 | — | 2.1% | |
| 15 | United Prairie BankMountain Lake, MN | 1 | — | 2.1% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Other Amusement and Recreation IndustriesNAICS 7139 | 4 | 8.3% | |
| 2 | Drycleaning and Laundry ServicesNAICS 8123 | 3 | 6.3% | |
| 3 | Cement and Concrete Product ManufacturingNAICS 3273 | 3 | 6.3% | |
| 4 | Gasoline StationsNAICS 4571 | 2 | 4.2% | |
| 5 | Professional and Commercial Equipment and Supplies Merchant WholesalersNAICS 4234 | 2 | 4.2% | |
| 6 | Fruit and Vegetable Preserving and Specialty Food ManufacturingNAICS 3114 | 2 | 4.2% | |
| 7 | Offices of Other Health PractitionersNAICS 6213 | 2 | 4.2% | |
| 8 | Dairy Product ManufacturingNAICS 3115 | 2 | 4.2% | |
| 9 | Restaurants and Other Eating PlacesNAICS 7225 | 2 | 4.2% | |
| 10 | Remediation and Other Waste Management ServicesNAICS 5629 | 2 | 4.2% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Retail Trade | 10 | 20.8% | |
| 2 | Manufacturing | 10 | 20.8% | |
| 3 | Other Services (except Public Administration) | 4 | 8.3% | |
| 4 | Accommodation and Food Services | 4 | 8.3% | |
| 5 | Arts, Entertainment, and Recreation | 4 | 8.3% | |
| 6 | Administrative and Support and Waste Management and Remediation Services | 3 | 6.3% | |
| 7 | Agriculture, Forestry, Fishing and Hunting | 2 | 4.2% | |
| 8 | Wholesale Trade | 2 | 4.2% |
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* | 0 | — | — | 2 | — | 2 | 4 |
| FY2025 | 7 | $2.0M | $346K | 4 | $1.7M | 11 | 85 |
| FY2024 | 7 | $1.9M | $90K | 0 | — | 7 | 44 |
| FY2023 | 6 | $5.2M | $214K | 2 | — | 8 | 52 |
| FY2022 | 9 | $1.0M | $100K | 1 | — | 10 | 101 |
| FY2021 | 6 | $2.6M | $310K | 6 | $2.2M | 12 | 125 |
| FY2020 | 4 | $705K | $188K | 2 | — | 6 | 76 |
| FY2019 | 4 | $2.3M | $533K | 4 | $1.4M | 8 | 121 |
| FY2018 | 5 | $1.7M | $125K | 1 | — | 6 | 68 |
| FY2017 | 8 | $7.6M | $120K | 1 | — | 9 | 98 |
| FY2016 | 4 | $1.2M | $298K | 4 | $1.1M | 8 | 20 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 37 approvals.
Against Minnesota and the country
| FY2021–FY2025 | Goodhue County | Minnesota | United States |
|---|---|---|---|
| Approvals | 48 | 9,634 | 342,825 |
| Approvals per 1,000 establishments | 37.1 | 62.4 | 41.0 |
| Median 7(a) approval | $150K | $170K | $190K |
| Median 504 approval | $271K | $545K | $657K |
| Average approval | $382K | $497K | $573K |
| 504 share of approvals | 27.1% | 14.8% | 11.0% |
| Jobs supported per approval, as reported | 8.5 | 11.7 | 10.5 |
| Share of state approvals | 0.5% | 100.0% | — |
Approval sizes
- $50,000 or less16.7%8
- $50,001 to $150,00022.9%11
- $150,001 to $350,00031.3%15
- $350,001 to $1 million18.8%9
- $1 million to $2 million8.3%4
- Over $2 million2.1%1
Age of the businesses
- Existing, more than 2 years old50.0%24
- New business, 2 years or less18.8%9
- Startup, loan funds will open the business18.8%9
- Change of ownership12.5%6
Questions and answers
Which lenders make the most SBA loans in Goodhue County?
By approvals in FY2021 to FY2025: Midwest Business Finance Corporation (8), Twin Cities-Metro Certified Development Company (4), Affinity Plus FCU (3), BayFirst National Bank (3), U.S. Bank, National Association (3). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Goodhue County?
The median 7(a) approval was $150K and the median 504 approval $271K; the Minnesota 7(a) median was $170K.
Which industries get the most SBA loans in Goodhue County?
Other Amusement and Recreation Industries (4); Drycleaning and Laundry Services (3); Cement and Concrete Product Manufacturing (3); Gasoline Stations (2); Professional and Commercial Equipment and Supplies Merchant Wholesalers (2).
Is SBA lending in Goodhue County rising?
Approvals in the three latest complete fiscal years total 26, against 28 in the three before: broadly level (-7%).
How does Goodhue County compare with the rest of Minnesota?
37.1 approvals per 1,000 establishments against 62.4 statewide, and 48 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