States › Minnesota › Pine County
County32nd of 87 in Minnesota by approvalsFIPS 27115
SBA loans in Pine 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 43 loans to businesses in Pine County, Minnesota, in FY2021 to FY2025, worth $14.0M: 39 under 7(a) and 4 under 504.
That is 68.6 approvals per 1,000 business establishments (627 establishments in 2023), close to the Minnesota figure of 62.4 and above the national 41.0.
It ranks 32nd of 87 Minnesota counties with approvals. In FY2025 there were 10.
16 lenders had approvals here; the most active were Stearns Bank National Association (8), Members Cooperative Credit Union (6) and Frandsen Bank and Trust (5). 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 Pine County
By number of approvals to businesses in the county, FY2021–FY2025; 16 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Stearns Bank National AssociationSaint Cloud, MN | 8 | $2.9M | 18.6% | |
| 2 | Members Cooperative Credit UnionDuluth, MN | 6 | $1.6M | 14.0% | |
| 3 | Frandsen Bank and TrustArden Hills, MN | 5 | $3.2M | 11.6% | |
| 4 | BankVistaSartell, MN | 5 | $2.2M | 11.6% | |
| 5 | Midwest Business Finance CorporationSt. Cloud, MN · CDC | 3 | $493K | 7.0% | |
| 6 | Bell BankFargo, ND | 3 | $402K | 7.0% | |
| 7 | U.S. Bank, National AssociationCincinnati, OH | 3 | $122K | 7.0% | |
| 8 | The Huntington National BankColumbus, OH | 2 | — | 4.7% | |
| 9 | GBankLas Vegas, NV | 1 | — | 2.3% | |
| 10 | WBD, Inc.Madison, WI · CDC | 1 | — | 2.3% | |
| 11 | 21st Century BankLoretto, MN | 1 | — | 2.3% | |
| 12 | Affinity Plus FCUSaint Paul, MN | 1 | — | 2.3% | |
| 13 | Northeast BankLewiston, ME | 1 | — | 2.3% | |
| 14 | Woodlands National BankHinckley, MN | 1 | — | 2.3% | |
| 15 | Celtic Bank CorporationSalt Lake City, UT | 1 | — | 2.3% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 5 | 11.6% | |
| 2 | Beverage ManufacturingNAICS 3121 | 4 | 9.3% | |
| 3 | Lessors of Real EstateNAICS 5311 | 2 | 4.7% | |
| 4 | Other Miscellaneous ManufacturingNAICS 3399 | 2 | 4.7% | |
| 5 | Individual and Family ServicesNAICS 6241 | 2 | 4.7% | |
| 6 | Drinking Places (Alcoholic Beverages)NAICS 7224 | 2 | 4.7% | |
| 7 | Building Equipment ContractorsNAICS 2382 | 2 | 4.7% | |
| 8 | Traveler AccommodationNAICS 7211 | 1 | 2.3% | |
| 9 | Spectator SportsNAICS 7112 | 1 | 2.3% | |
| 10 | RV (Recreational Vehicle) Parks and Recreational CampsNAICS 7212 | 1 | 2.3% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 9 | 20.9% | |
| 2 | Manufacturing | 8 | 18.6% | |
| 3 | Retail Trade | 5 | 11.6% | |
| 4 | Construction | 5 | 11.6% | |
| 5 | Health Care and Social Assistance | 5 | 11.6% | |
| 6 | Real Estate and Rental and Leasing | 2 | 4.7% | |
| 7 | Wholesale Trade | 2 | 4.7% | |
| 8 | Arts, Entertainment, and Recreation | 1 | 2.3% |
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 | $3.0M | $732K | 2 | — | 7 | 48 |
| FY2025 | 9 | $3.3M | $335K | 1 | — | 10 | 118 |
| FY2024 | 5 | $542K | $100K | 0 | — | 5 | 28 |
| FY2023 | 5 | $1.9M | $270K | 0 | — | 5 | 51 |
| FY2022 | 9 | $3.3M | $424K | 2 | — | 11 | 296 |
| FY2021 | 11 | $3.8M | $300K | 1 | — | 12 | 129 |
| FY2020 | 7 | $1.2M | $200K | 2 | — | 9 | 65 |
| FY2019 | 5 | $507K | $47K | 0 | — | 5 | 36 |
| FY2018 | 5 | $710K | $150K | 1 | — | 6 | 31 |
| FY2017 | 18 | $2.9M | $144K | 1 | — | 19 | 79 |
| FY2016 | 10 | $1.9M | $144K | 1 | — | 11 | 109 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 50 approvals.
Against Minnesota and the country
| FY2021–FY2025 | Pine County | Minnesota | United States |
|---|---|---|---|
| Approvals | 43 | 9,634 | 342,825 |
| Approvals per 1,000 establishments | 68.6 | 62.4 | 41.0 |
| Median 7(a) approval | $296K | $170K | $190K |
| Median 504 approval | $208K | $545K | $657K |
| Average approval | $325K | $497K | $573K |
| 504 share of approvals | 9.3% | 14.8% | 11.0% |
| Jobs supported per approval, as reported | 14.5 | 11.7 | 10.5 |
| Share of state approvals | 0.4% | 100.0% | — |
Approval sizes
- $50,000 or less18.6%8
- $50,001 to $150,00016.3%7
- $150,001 to $350,00027.9%12
- $350,001 to $1 million34.9%15
- $1 million to $2 million2.3%1
Age of the businesses
- Existing, more than 2 years old39.5%17
- New business, 2 years or less16.3%7
- Startup, loan funds will open the business16.3%7
- Change of ownership27.9%12
Questions and answers
Which lenders make the most SBA loans in Pine County?
By approvals in FY2021 to FY2025: Stearns Bank National Association (8), Members Cooperative Credit Union (6), Frandsen Bank and Trust (5), BankVista (5), Midwest Business Finance Corporation (3). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Pine County?
The median 7(a) approval was $296K and the median 504 approval $208K; the Minnesota 7(a) median was $170K.
Which industries get the most SBA loans in Pine County?
Restaurants and Other Eating Places (5); Beverage Manufacturing (4); Lessors of Real Estate (2); Other Miscellaneous Manufacturing (2); Individual and Family Services (2).
Is SBA lending in Pine County rising?
Approvals in the three latest complete fiscal years total 20, against 32 in the three before: falling (-37%).
How does Pine County compare with the rest of Minnesota?
68.6 approvals per 1,000 establishments against 62.4 statewide, and 43 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