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County2nd of 87 in Minnesota by approvalsFIPS 27123
SBA loans in Ramsey 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 Ramsey County, Minnesota, received 942 SBA loan approvals worth $477M in FY2021 to FY2025 (813 7(a), 129 504).
That is 68.9 approvals per 1,000 business establishments (13,677 establishments in 2023), close to the Minnesota figure of 62.4 and above the national 41.0.
It ranks 2nd of 87 Minnesota counties with approvals. In FY2025 there were 198, about level with FY2024.
97 lenders had approvals here; the most active were U.S. Bank, National Association (126), The Huntington National Bank (62) and Twin Cities-Metro Certified Development Company (48). 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 Ramsey County
By number of approvals to businesses in the county, FY2021–FY2025; 97 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | U.S. Bank, National AssociationCincinnati, OH | 126 | $26.6M | 13.4% | |
| 2 | The Huntington National BankColumbus, OH | 62 | $12.2M | 6.6% | |
| 3 | Twin Cities-Metro Certified Development CompanyVadnais Heights, MN · CDC | 48 | $37.0M | 5.1% | |
| 4 | Wells Fargo Bank National AssociationSioux Falls, SD | 40 | $4.4M | 4.2% | |
| 5 | BankVistaSartell, MN | 37 | $22.1M | 3.9% | |
| 6 | Hiawatha National BankHager City, WI | 29 | $20.2M | 3.1% | |
| 7 | Sunrise Banks National AssociationSaint Paul, MN | 29 | $16.0M | 3.1% | |
| 8 | Amplio Economic Development CorporationArden Hills, MN · CDC | 28 | $20.4M | 3.0% | |
| 9 | BankCherokeeSaint Paul, MN | 26 | $9.6M | 2.8% | |
| 10 | Midwest Business Finance CorporationSt. Cloud, MN · CDC | 24 | $16.4M | 2.5% | |
| 11 | Choice Financial GroupFargo, ND | 23 | $14.7M | 2.4% | |
| 12 | 21st Century BankLoretto, MN | 23 | $7.6M | 2.4% | |
| 13 | Old National BankEvansville, IN | 22 | $15.5M | 2.3% | |
| 14 | Platinum BankOakdale, MN | 19 | $19.6M | 2.0% | |
| 15 | Frandsen Bank and TrustArden Hills, MN | 19 | $10.3M | 2.0% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 64 | 6.8% | |
| 2 | Offices of Other Health PractitionersNAICS 6213 | 43 | 4.6% | |
| 3 | Services to Buildings and DwellingsNAICS 5617 | 36 | 3.8% | |
| 4 | Automotive Repair and MaintenanceNAICS 8111 | 29 | 3.1% | |
| 5 | Personal Care ServicesNAICS 8121 | 25 | 2.7% | |
| 6 | Management, Scientific, and Technical Consulting ServicesNAICS 5416 | 24 | 2.5% | |
| 7 | Home Health Care ServicesNAICS 6216 | 22 | 2.3% | |
| 8 | Beer, Wine, and Liquor StoresNAICS 4453 | 22 | 2.3% | |
| 9 | Building Equipment ContractorsNAICS 2382 | 17 | 1.8% | |
| 10 | Beverage ManufacturingNAICS 3121 | 15 | 1.6% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Retail Trade | 160 | 17.0% | |
| 2 | Health Care and Social Assistance | 134 | 14.2% | |
| 3 | Professional, Scientific, and Technical Services | 88 | 9.3% | |
| 4 | Manufacturing | 85 | 9.0% | |
| 5 | Other Services (except Public Administration) | 85 | 9.0% | |
| 6 | Accommodation and Food Services | 75 | 8.0% | |
| 7 | Construction | 74 | 7.9% | |
| 8 | Administrative and Support and Waste Management and Remediation Services | 69 | 7.3% |
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* | 56 | $28.0M | $192K | 9 | $10.0M | 65 | 1,044 |
| FY2025 | 179 | $69.9M | $150K | 19 | $16.2M | 198 | 2,293 |
| FY2024 | 172 | $62.9M | $150K | 20 | $13.4M | 192 | 2,614 |
| FY2023 | 151 | $70.4M | $176K | 18 | $18.0M | 169 | 2,459 |
| FY2022 | 143 | $77.1M | $150K | 29 | $19.2M | 172 | 3,172 |
| FY2021 | 168 | $97.6M | $269K | 43 | $31.9M | 211 | 3,700 |
| FY2020 | 122 | $58.4M | $200K | 13 | $10.8M | 135 | 1,714 |
| FY2019 | 128 | $46.0M | $150K | 22 | $10.0M | 150 | 1,661 |
| FY2018 | 149 | $35.1M | $125K | 16 | $12.6M | 165 | 1,881 |
| FY2017 | 172 | $51.5M | $141K | 23 | $10.5M | 195 | 2,551 |
| FY2016 | 160 | $42.4M | $111K | 20 | $13.6M | 180 | 2,350 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 825 approvals.
Against Minnesota and the country
| FY2021–FY2025 | Ramsey County | Minnesota | United States |
|---|---|---|---|
| Approvals | 942 | 9,634 | 342,825 |
| Approvals per 1,000 establishments | 68.9 | 62.4 | 41.0 |
| Median 7(a) approval | $175K | $170K | $190K |
| Median 504 approval | $538K | $545K | $657K |
| Average approval | $506K | $497K | $573K |
| 504 share of approvals | 13.7% | 14.8% | 11.0% |
| Jobs supported per approval, as reported | 15.1 | 11.7 | 10.5 |
| Share of state approvals | 9.8% | 100.0% | — |
Approval sizes
- $50,000 or less21.4%202
- $50,001 to $150,00020.7%195
- $150,001 to $350,00020.1%189
- $350,001 to $1 million24.9%235
- $1 million to $2 million8.5%80
- Over $2 million4.4%41
Age of the businesses
- Existing, more than 2 years old58.6%552
- New business, 2 years or less16.9%159
- Startup, loan funds will open the business12.6%119
- Change of ownership11.7%110
- Not answered0.2%2
Questions and answers
Which lenders make the most SBA loans in Ramsey County?
By approvals in FY2021 to FY2025: U.S. Bank, National Association (126), The Huntington National Bank (62), Twin Cities-Metro Certified Development Company (48), Wells Fargo Bank National Association (40), BankVista (37). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Ramsey County?
The median 7(a) approval was $175K and the median 504 approval $538K; the Minnesota 7(a) median was $170K.
Which industries get the most SBA loans in Ramsey County?
Restaurants and Other Eating Places (64); Offices of Other Health Practitioners (43); Services to Buildings and Dwellings (36); Automotive Repair and Maintenance (29); Personal Care Services (25).
Is SBA lending in Ramsey County rising?
Approvals in the three latest complete fiscal years total 559, against 518 in the three before: broadly level (+8%).
How does Ramsey County compare with the rest of Minnesota?
68.9 approvals per 1,000 establishments against 62.4 statewide, and 942 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