States › Minnesota › Morrison County
County34th of 87 in Minnesota by approvalsFIPS 27097
SBA loans in Morrison 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 Morrison County, Minnesota, received 38 SBA loan approvals worth $20.3M in FY2021 to FY2025 (26 7(a), 12 504).
That is 40.7 approvals per 1,000 business establishments (933 establishments in 2023), below the Minnesota figure of 62.4 and close to the national 41.0.
It ranks 34th of 87 Minnesota counties with approvals. In FY2025 there were 3.
14 lenders had approvals here; the most active were Midwest Business Finance Corporation (12), Magnifi Financial CU (7) and Hiawatha National Bank (3). The most common industry was building material and supplies dealers.
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 Morrison County
By number of approvals to businesses in the county, FY2021–FY2025; 14 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Midwest Business Finance CorporationSt. Cloud, MN · CDC | 12 | $12.8M | 31.6% | |
| 2 | Magnifi Financial CUMelrose, MN | 7 | $901K | 18.4% | |
| 3 | Hiawatha National BankHager City, WI | 3 | $1.3M | 7.9% | |
| 4 | Unity BankAugusta, WI | 3 | $125K | 7.9% | |
| 5 | Minnwest BankRedwood Falls, MN | 2 | — | 5.3% | |
| 6 | National Bank of CommerceSuperior, WI | 2 | — | 5.3% | |
| 7 | Falcon National BankFoley, MN | 2 | — | 5.3% | |
| 8 | Sherburne State BankBecker, MN | 1 | — | 2.6% | |
| 9 | MidCountry BankBloomington, MN | 1 | — | 2.6% | |
| 10 | BankVistaSartell, MN | 1 | — | 2.6% | |
| 11 | Sentry BankSaint Joseph, MN | 1 | — | 2.6% | |
| 12 | Northeast Entrepreneur Fund, Inc.Duluth, MN | 1 | — | 2.6% | |
| 13 | Old National BankEvansville, IN | 1 | — | 2.6% | |
| 14 | St Cloud Financial Credit UnionSartell, MN | 1 | — | 2.6% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Building Material and Supplies DealersNAICS 4441 | 6 | 15.8% | |
| 2 | Other Fabricated Metal Product ManufacturingNAICS 3329 | 4 | 10.5% | |
| 3 | Restaurants and Other Eating PlacesNAICS 7225 | 3 | 7.9% | |
| 4 | Machine Shops; Turned Product; and Screw, Nut, and Bolt ManufacturingNAICS 3327 | 2 | 5.3% | |
| 5 | Professional and Commercial Equipment and Supplies Merchant WholesalersNAICS 4234 | 2 | 5.3% | |
| 6 | Plastics Product ManufacturingNAICS 3261 | 2 | 5.3% | |
| 7 | Offices of Other Health PractitionersNAICS 6213 | 2 | 5.3% | |
| 8 | Animal Food ManufacturingNAICS 3111 | 1 | 2.6% | |
| 9 | Support Activities for Animal ProductionNAICS 1152 | 1 | 2.6% | |
| 10 | Continuing Care Retirement Communities and Assisted Living Facilities for the ElderlyNAICS 6233 | 1 | 2.6% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Manufacturing | 11 | 28.9% | |
| 2 | Health Care and Social Assistance | 7 | 18.4% | |
| 3 | Retail Trade | 6 | 15.8% | |
| 4 | Accommodation and Food Services | 4 | 10.5% | |
| 5 | Wholesale Trade | 2 | 5.3% | |
| 6 | Arts, Entertainment, and Recreation | 2 | 5.3% | |
| 7 | Other Services (except Public Administration) | 2 | 5.3% | |
| 8 | Agriculture, Forestry, Fishing and Hunting | 1 | 2.6% |
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* | 3 | $4.1M | $939K | 0 | — | 3 | 36 |
| FY2025 | 3 | $708K | $200K | 0 | — | 3 | 42 |
| FY2024 | 3 | $1.4M | $500K | 1 | — | 4 | 90 |
| FY2023 | 2 | — | — | 3 | $4.2M | 5 | 80 |
| FY2022 | 6 | $1.3M | $247K | 4 | $2.9M | 10 | 152 |
| FY2021 | 12 | $3.2M | $94K | 4 | $5.3M | 16 | 247 |
| FY2020 | 9 | $1.5M | $107K | 3 | $881K | 12 | 78 |
| FY2019 | 10 | $3.8M | $72K | 3 | $4.5M | 13 | 183 |
| FY2018 | 9 | $1.4M | $115K | 2 | — | 11 | 64 |
| FY2017 | 5 | $718K | $122K | 3 | $730K | 8 | 60 |
| FY2016 | 4 | $275K | $45K | 3 | $3.4M | 7 | 123 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 51 approvals.
Against Minnesota and the country
| FY2021–FY2025 | Morrison County | Minnesota | United States |
|---|---|---|---|
| Approvals | 38 | 9,634 | 342,825 |
| Approvals per 1,000 establishments | 40.7 | 62.4 | 41.0 |
| Median 7(a) approval | $187K | $170K | $190K |
| Median 504 approval | $521K | $545K | $657K |
| Average approval | $535K | $497K | $573K |
| 504 share of approvals | 31.6% | 14.8% | 11.0% |
| Jobs supported per approval, as reported | 16.1 | 11.7 | 10.5 |
| Share of state approvals | 0.4% | 100.0% | — |
Approval sizes
- $50,000 or less10.5%4
- $50,001 to $150,00026.3%10
- $150,001 to $350,00028.9%11
- $350,001 to $1 million18.4%7
- $1 million to $2 million10.5%4
- Over $2 million5.3%2
Age of the businesses
- Existing, more than 2 years old36.8%14
- New business, 2 years or less21.1%8
- Startup, loan funds will open the business13.2%5
- Change of ownership28.9%11
Questions and answers
Which lenders make the most SBA loans in Morrison County?
By approvals in FY2021 to FY2025: Midwest Business Finance Corporation (12), Magnifi Financial CU (7), Hiawatha National Bank (3), Unity Bank (3), Minnwest Bank (2). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Morrison County?
The median 7(a) approval was $187K and the median 504 approval $521K; the Minnesota 7(a) median was $170K.
Which industries get the most SBA loans in Morrison County?
Building Material and Supplies Dealers (6); Other Fabricated Metal Product Manufacturing (4); Restaurants and Other Eating Places (3); Machine Shops; Turned Product; and Screw, Nut, and Bolt Manufacturing (2); Professional and Commercial Equipment and Supplies Merchant Wholesalers (2).
Is SBA lending in Morrison County rising?
Approvals in the three latest complete fiscal years total 12, against 38 in the three before: falling (-68%).
How does Morrison County compare with the rest of Minnesota?
40.7 approvals per 1,000 establishments against 62.4 statewide, and 38 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