States › Minnesota › Sherburne County
County10th of 87 in Minnesota by approvalsFIPS 27141
SBA loans in Sherburne 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 219 loans to businesses in Sherburne County, Minnesota, in FY2021 to FY2025, worth $95.7M: 183 under 7(a) and 36 under 504.
That is 97.3 approvals per 1,000 business establishments (2,251 establishments in 2023), above the Minnesota figure of 62.4 and above the national 41.0.
It ranks 10th of 87 Minnesota counties with approvals. In FY2025 there were 38, about level with FY2024.
47 lenders had approvals here; the most active were Midwest Business Finance Corporation (23), The Bank of Elk River (21) and The Huntington National Bank (19). The most common industry was building equipment contractors.
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 Sherburne County
By number of approvals to businesses in the county, FY2021–FY2025; 47 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Midwest Business Finance CorporationSt. Cloud, MN · CDC | 23 | $17.7M | 10.5% | |
| 2 | The Bank of Elk RiverElk River, MN | 21 | $8.7M | 9.6% | |
| 3 | The Huntington National BankColumbus, OH | 19 | $1.5M | 8.7% | |
| 4 | U.S. Bank, National AssociationCincinnati, OH | 18 | $1.5M | 8.2% | |
| 5 | BankVistaSartell, MN | 13 | $4.4M | 5.9% | |
| 6 | Bravera BankDickinson, ND | 11 | $1.3M | 5.0% | |
| 7 | Sherburne State BankBecker, MN | 7 | $2.9M | 3.2% | |
| 8 | Granite BankCold Spring, MN | 6 | $1.5M | 2.7% | |
| 9 | Wells Fargo Bank National AssociationSioux Falls, SD | 6 | $95K | 2.7% | |
| 10 | Twin Cities-Metro Certified Development CompanyVadnais Heights, MN · CDC | 5 | $13.0M | 2.3% | |
| 11 | Central Minnesota Development CompanyAndover, MN · CDC | 5 | $2.8M | 2.3% | |
| 12 | Frandsen Bank and TrustArden Hills, MN | 5 | $1.4M | 2.3% | |
| 13 | BayFirst National BankSaint Petersburg, FL | 5 | $683K | 2.3% | |
| 14 | Falcon National BankFoley, MN | 4 | $2.7M | 1.8% | |
| 15 | Old National BankEvansville, IN | 4 | $2.1M | 1.8% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Building Equipment ContractorsNAICS 2382 | 13 | 5.9% | |
| 2 | Automotive Repair and MaintenanceNAICS 8111 | 11 | 5.0% | |
| 3 | Other Specialty Trade ContractorsNAICS 2389 | 11 | 5.0% | |
| 4 | Services to Buildings and DwellingsNAICS 5617 | 11 | 5.0% | |
| 5 | Restaurants and Other Eating PlacesNAICS 7225 | 9 | 4.1% | |
| 6 | Offices of Other Health PractitionersNAICS 6213 | 9 | 4.1% | |
| 7 | Machine Shops; Turned Product; and Screw, Nut, and Bolt ManufacturingNAICS 3327 | 7 | 3.2% | |
| 8 | Residential Building ConstructionNAICS 2361 | 7 | 3.2% | |
| 9 | Beer, Wine, and Liquor StoresNAICS 4453 | 6 | 2.7% | |
| 10 | Management, Scientific, and Technical Consulting ServicesNAICS 5416 | 6 | 2.7% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 44 | 20.1% | |
| 2 | Manufacturing | 33 | 15.1% | |
| 3 | Other Services (except Public Administration) | 24 | 11.0% | |
| 4 | Administrative and Support and Waste Management and Remediation Services | 19 | 8.7% | |
| 5 | Professional, Scientific, and Technical Services | 18 | 8.2% | |
| 6 | Accommodation and Food Services | 16 | 7.3% | |
| 7 | Retail Trade | 16 | 7.3% | |
| 8 | Health Care and Social Assistance | 16 | 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* | 16 | $3.8M | $140K | 3 | $1.1M | 19 | 107 |
| FY2025 | 31 | $9.4M | $149K | 7 | $9.1M | 38 | 328 |
| FY2024 | 33 | $8.8M | $100K | 5 | $7.0M | 38 | 268 |
| FY2023 | 37 | $10.6M | $150K | 5 | $1.8M | 42 | 281 |
| FY2022 | 33 | $6.9M | $150K | 11 | $13.4M | 44 | 790 |
| FY2021 | 49 | $24.3M | $225K | 8 | $4.4M | 57 | 636 |
| FY2020 | 35 | $20.7M | $200K | 7 | $2.9M | 42 | 586 |
| FY2019 | 20 | $7.0M | $134K | 7 | $3.6M | 27 | 201 |
| FY2018 | 33 | $10.1M | $116K | 7 | $3.0M | 40 | 467 |
| FY2017 | 37 | $13.8M | $175K | 13 | $7.0M | 50 | 694 |
| FY2016 | 25 | $15.7M | $150K | 4 | $4.4M | 29 | 432 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 188 approvals.
Against Minnesota and the country
| FY2021–FY2025 | Sherburne County | Minnesota | United States |
|---|---|---|---|
| Approvals | 219 | 9,634 | 342,825 |
| Approvals per 1,000 establishments | 97.3 | 62.4 | 41.0 |
| Median 7(a) approval | $150K | $170K | $190K |
| Median 504 approval | $572K | $545K | $657K |
| Average approval | $437K | $497K | $573K |
| 504 share of approvals | 16.4% | 14.8% | 11.0% |
| Jobs supported per approval, as reported | 10.5 | 11.7 | 10.5 |
| Share of state approvals | 2.3% | 100.0% | — |
Approval sizes
- $50,000 or less22.8%50
- $50,001 to $150,00025.1%55
- $150,001 to $350,00021.9%48
- $350,001 to $1 million21.0%46
- $1 million to $2 million5.9%13
- Over $2 million3.2%7
Age of the businesses
- Existing, more than 2 years old54.3%119
- New business, 2 years or less21.5%47
- Startup, loan funds will open the business12.3%27
- Change of ownership11.9%26
Questions and answers
Which lenders make the most SBA loans in Sherburne County?
By approvals in FY2021 to FY2025: Midwest Business Finance Corporation (23), The Bank of Elk River (21), The Huntington National Bank (19), U.S. Bank, National Association (18), BankVista (13). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Sherburne County?
The median 7(a) approval was $150K and the median 504 approval $572K; the Minnesota 7(a) median was $170K.
Which industries get the most SBA loans in Sherburne County?
Building Equipment Contractors (13); Automotive Repair and Maintenance (11); Other Specialty Trade Contractors (11); Services to Buildings and Dwellings (11); Restaurants and Other Eating Places (9).
Is SBA lending in Sherburne County rising?
Approvals in the three latest complete fiscal years total 118, against 143 in the three before: falling (-17%).
How does Sherburne County compare with the rest of Minnesota?
97.3 approvals per 1,000 establishments against 62.4 statewide, and 219 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