Lenders › Drake Bank
7(a) lenderSaint Paul, MinnesotaFDIC-insured bank501st of 2,184 by approvals
Drake Bank
SBA 7(a) loan approvals by fiscal year, where they went, how large they were, and how loans from earlier years turned out.
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.
In FY2021 to FY2025 SBA approved 51 7(a) loans, worth $29.8M, through Drake Bank of Saint Paul, Minnesota, an FDIC-insured bank in the SBA 7(a) program. By number of approvals that is 501st among 2,184 active 7(a) lenders.
In FY2025, the latest complete fiscal year, it had 17 approvals totalling $12.2M, down 26% on FY2024 (23). FY2026 to 30 Jun 2026 adds 4 more.
The median approval was $303K, against $190K for the 7(a) program as a whole; 31.4% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 1 state or territory and 9 counties, led by Minnesota (100.0%). The largest industry group was professional, scientific, and technical services at 19.6% of approvals, and 11.8% of approvals were to franchise businesses.
Of 68 disbursed loans approved in FY2010 to FY2021, SBA records 4 as charged off (5.9%), 61 as paid in full and 3 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is close to it.
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. Loans appear under the lender they are assigned to today, so a lender's figures include loans it took over. Data through 30 Jun 2026.
Approvals by fiscal year
| Fiscal year | Approvals | Dollars approved | Median approval | Average approval | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 4 | $1.6M | $332K | $411K | 74 |
| FY2025 | 17 | $12.2M | $358K | $721K | 251 |
| FY2024 | 23 | $12.4M | $250K | $541K | 269 |
| FY2023 | 3 | $938K | $350K | $313K | 28 |
| FY2022 | 4 | $3.0M | $438K | $762K | 39 |
| FY2021 | 4 | $1.1M | $250K | $283K | 7 |
| FY2020 | 1 | — | — | — | 90 |
| FY2019 | 1 | — | — | — | 20 |
| FY2018 | 0 | — | — | — | 0 |
| FY2017 | 1 | — | — | — | 2 |
| FY2016 | 2 | — | — | — | 12 |
Approvals are counted in the year SBA approved them and include approvals later cancelled. In the five fiscal years before the current window (FY2016–FY2020) the lender had 5 approvals. First approval on file: FY2010.
How earlier loans turned out
Only loans approved at least five fiscal years ago (FY2010–FY2021) are counted, because newer loans have had little time to be paid in full or charged off. "Charged off" is SBA's status for a loan on which it has written off the remaining balance.
| Loans approved FY2010–FY2021 | This lender | Minnesota | 7(a) program |
|---|---|---|---|
| Approvals in these years | 75 | 18,934 | 639,905 |
| Cancelled or never disbursed | 7 | 2,040 | 79,313 |
| Disbursed loans | 68 | 16,894 | 560,592 |
| Paid in full | 61 | 13,664 | 435,813 |
| Charged off | 4 | 778 | 36,891 |
| Still outstanding (status exempt from disclosure) | 3 | 2,452 | 87,888 |
| Charged off, share of disbursed loans | 5.9% | 4.6% | 6.6% |
| Dollars charged off, share of disbursed dollars | 2.6% | 2.4% | 2.5% |
| Dollars charged off | $460K | $131M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 4 | 2 | 0 | — | 2.8% |
| FY2020 | 1 | 1 | 0 | — | 4.0% |
| FY2019 | 1 | 0 | 0 | — | 6.7% |
| FY2018 | 0 | 0 | 0 | — | 7.9% |
| FY2017 | 1 | 1 | 0 | — | 7.7% |
| FY2016 | 2 | 2 | 0 | — | 7.2% |
| FY2015 | 2 | 2 | 0 | — | 6.9% |
| FY2014 | 6 | 6 | 0 | — | 6.4% |
| FY2013 | 8 | 7 | 1 | — | 6.0% |
| FY2012 | 16 | 15 | 1 | — | 6.3% |
| FY2011 | 12 | 11 | 1 | — | 6.9% |
| FY2010 | 15 | 14 | 1 | — | 9.2% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 7(a) program
| FY2021–FY2025 | This lender | 7(a) program |
|---|---|---|
| Median approval | $303K | $190K |
| Average approval | $584K | $518K |
| Approvals of $150,000 or less | 31.4% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 35.3% | 34.3% |
| Approvals to franchise businesses | 11.8% | 11.5% |
| Jobs supported per approval, as reported | 11.6 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 5.9% | 6.6% |
States served
| # | State of the business (1 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Minnesota | 51 | $29.8M | 100.0% |
In Minnesota the lender accounts for 0.6% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (9 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Ramsey County, MN | 16 | $7.2M | 31.4% | |
| 2 | Hennepin County, MN | 10 | $5.0M | 19.6% | |
| 3 | Dakota County, MN | 8 | $7.0M | 15.7% | |
| 4 | Washington County, MN | 4 | $3.0M | 7.8% | |
| 5 | Carver County, MN | 4 | $1.0M | 7.8% | |
| 6 | Scott County, MN | 3 | $2.3M | 5.9% | |
| 7 | Anoka County, MN | 3 | $603K | 5.9% | |
| 8 | Wright County, MN | 2 | — | 3.9% | |
| 9 | Sherburne County, MN | 1 | — | 2.0% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Professional, Scientific, and Technical Services | 10 | 19.6% | |
| 2 | Health Care and Social Assistance | 9 | 17.6% | |
| 3 | Manufacturing | 5 | 9.8% | |
| 4 | Other Services (except Public Administration) | 5 | 9.8% | |
| 5 | Administrative and Support and Waste Management and Remediation Services | 4 | 7.8% | |
| 6 | Construction | 4 | 7.8% | |
| 7 | Wholesale Trade | 4 | 7.8% | |
| 8 | Arts, Entertainment, and Recreation | 3 | 5.9% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Computer Systems Design and Related ServicesNAICS 5415 | 5 | 9.8% | |
| 2 | Offices of Other Health PractitionersNAICS 6213 | 5 | 9.8% | |
| 3 | Other Amusement and Recreation IndustriesNAICS 7139 | 3 | 5.9% | |
| 4 | Architectural, Engineering, and Related ServicesNAICS 5413 | 3 | 5.9% | |
| 5 | Restaurants and Other Eating PlacesNAICS 7225 | 3 | 5.9% | |
| 6 | Personal Care ServicesNAICS 8121 | 3 | 5.9% | |
| 7 | Building Equipment ContractorsNAICS 2382 | 2 | 3.9% | |
| 8 | Clothing and Clothing Accessories RetailersNAICS 4581 | 2 | 3.9% | |
| 9 | Other Personal ServicesNAICS 8129 | 2 | 3.9% | |
| 10 | Services to Buildings and DwellingsNAICS 5617 | 2 | 3.9% |
Approval sizes
- $50,000 or less2.0%1
- $50,001 to $150,00029.4%15
- $150,001 to $350,00025.5%13
- $350,001 to $1 million31.4%16
- $1 million to $2 million3.9%2
- Over $2 million7.8%4
Loan terms
- Over 5 to 10 years98.0%50
- Over 10 to 20 years2.0%1
Age of the businesses
- Existing, more than 2 years old49.0%25
- New business, 2 years or less19.6%10
- Startup, loan funds will open the business15.7%8
- Change of ownership15.7%8
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 34 | 66.7% | |
| 2 | SBA Express Program | 9 | 17.6% | |
| 3 | 7a General | 8 | 15.7% |
Franchise share
6 of 51 approvals in FY2021–FY2025 (11.8%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Nautical Bowls | 2 | 3.9% | |
| 2 | Casa De Corazón | 1 | 2.0% | |
| 3 | F45 Training | 1 | 2.0% | |
| 4 | The UPS Store | 1 | 2.0% | |
| 5 | StarCycle | 1 | 2.0% |
Questions and answers
How many SBA loans does Drake Bank make?
SBA approved 17 7(a) loans through Drake Bank in FY2025, worth $12.2M, and 51 over FY2021 to FY2025. That ranks 501st of 2,184 active 7(a) lenders by number of approvals.
How large are Drake Bank's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $303K and the average $584K. The program-wide median was $190K.
What is Drake Bank's charge-off rate?
Of 68 disbursed loans approved in FY2010 to FY2021, SBA records 4 as charged off (5.9%), 61 as paid in full and 3 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is close to it. Loans are listed under the lender that holds them today, so the figure includes loans taken over from other lenders. Status is as recorded by SBA on 30 Jun 2026.
Which industries does Drake Bank lend to most?
By number of approvals in FY2021 to FY2025: computer systems design and related services (5); offices of other health practitioners (5); other amusement and recreation industries (3); architectural, engineering, and related services (3).
Where does Drake Bank make SBA loans?
In 1 state or territory. Minnesota 51. In Minnesota it accounts for 0.6% of all 7(a) approvals.
Is Drake Bank's SBA lending rising?
Volumes are too small to compare periods.
Where does this data come from?
From the Small Business Administration's 7(a) and 504 FOIA loan files, as of 30 Jun 2026. Borrower names and addresses in those files are discarded when the files are read and appear nowhere on this site.
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. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error