Lenders › Minnwest Bank
7(a) lenderRedwood Falls, MinnesotaFDIC-insured bank241st of 2,184 by approvals
Minnwest 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.
Minnwest Bank, based in Redwood Falls, Minnesota, is an FDIC-insured bank in the SBA 7(a) program. SBA approved 149 of its 7(a) loans worth $95.4M in FY2021 to FY2025, which places it 241st of 2,184 active 7(a) lenders by number of approvals.
In FY2025, the latest complete fiscal year, it had 30 approvals totalling $18.1M. FY2026 to 30 Jun 2026 adds 12 more.
The median approval was $350K, against $190K for the 7(a) program as a whole; 18.8% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 3 states and territories and 31 counties, led by Minnesota (90.6%), South Dakota (6.0%) and Wisconsin (3.4%). The largest industry group was professional, scientific, and technical services at 13.4% of approvals, and 15.4% of approvals were to franchise businesses.
Of 257 disbursed loans approved in FY2010 to FY2021, SBA records 10 as charged off (3.9%), 202 as paid in full and 45 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below 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* | 12 | $8.0M | $209K | $670K | 327 |
| FY2025 | 30 | $18.1M | $324K | $604K | 623 |
| FY2024 | 9 | $3.0M | $264K | $330K | 127 |
| FY2023 | 21 | $10.5M | $369K | $498K | 263 |
| FY2022 | 30 | $18.0M | $348K | $601K | 621 |
| FY2021 | 59 | $45.8M | $500K | $776K | 1,057 |
| FY2020 | 34 | $12.0M | $266K | $354K | 367 |
| FY2019 | 19 | $10.0M | $240K | $529K | 225 |
| FY2018 | 20 | $11.9M | $450K | $593K | 216 |
| FY2017 | 22 | $20.0M | $243K | $911K | 298 |
| FY2016 | 17 | $8.2M | $150K | $484K | 370 |
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 112 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 | 284 | 18,934 | 639,905 |
| Cancelled or never disbursed | 27 | 2,040 | 79,313 |
| Disbursed loans | 257 | 16,894 | 560,592 |
| Paid in full | 202 | 13,664 | 435,813 |
| Charged off | 10 | 778 | 36,891 |
| Still outstanding (status exempt from disclosure) | 45 | 2,452 | 87,888 |
| Charged off, share of disbursed loans | 3.9% | 4.6% | 6.6% |
| Dollars charged off, share of disbursed dollars | 1.7% | 2.4% | 2.5% |
| Dollars charged off | $2.2M | $131M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 48 | 27 | 1 | 2.1% | 2.8% |
| FY2020 | 34 | 23 | 0 | 0.0% | 4.0% |
| FY2019 | 17 | 16 | 0 | — | 6.7% |
| FY2018 | 20 | 17 | 0 | — | 7.9% |
| FY2017 | 20 | 14 | 2 | — | 7.7% |
| FY2016 | 17 | 16 | 0 | — | 7.2% |
| FY2015 | 13 | 13 | 0 | — | 6.9% |
| FY2014 | 12 | 10 | 1 | — | 6.4% |
| FY2013 | 15 | 13 | 1 | — | 6.0% |
| FY2012 | 16 | 14 | 1 | — | 6.3% |
| FY2011 | 28 | 26 | 1 | — | 6.9% |
| FY2010 | 17 | 13 | 3 | — | 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 | $350K | $190K |
| Average approval | $640K | $518K |
| Approvals of $150,000 or less | 18.8% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 26.8% | 34.3% |
| Approvals to franchise businesses | 15.4% | 11.5% |
| Jobs supported per approval, as reported | 18.1 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 3.9% | 6.6% |
States served
| # | State of the business (3 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Minnesota | 135 | $88.3M | 90.6% | |
| 2 | South Dakota | 9 | $2.4M | 6.0% | |
| 3 | Wisconsin | 5 | $4.7M | 3.4% |
In Minnesota the lender accounts for 1.6% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (31 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Hennepin County, MN | 30 | $18.0M | 20.1% | |
| 2 | Dakota County, MN | 16 | $11.3M | 10.7% | |
| 3 | Stearns County, MN | 13 | $7.2M | 8.7% | |
| 4 | Olmsted County, MN | 11 | $10.7M | 7.4% | |
| 5 | Ramsey County, MN | 11 | $7.4M | 7.4% | |
| 6 | Scott County, MN | 11 | $7.1M | 7.4% | |
| 7 | Minnehaha County, SD | 9 | $2.4M | 6.0% | |
| 8 | Wright County, MN | 5 | $1.1M | 3.4% | |
| 9 | Anoka County, MN | 4 | $2.4M | 2.7% | |
| 10 | La Crosse County, WI | 3 | $2.2M | 2.0% | |
| 11 | Benton County, MN | 3 | $1.7M | 2.0% | |
| 12 | Rock County, MN | 3 | $1.2M | 2.0% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Professional, Scientific, and Technical Services | 20 | 13.4% | |
| 2 | Manufacturing | 17 | 11.4% | |
| 3 | Retail Trade | 17 | 11.4% | |
| 4 | Construction | 15 | 10.1% | |
| 5 | Wholesale Trade | 13 | 8.7% | |
| 6 | Accommodation and Food Services | 13 | 8.7% | |
| 7 | Transportation and Warehousing | 11 | 7.4% | |
| 8 | Health Care and Social Assistance | 9 | 6.0% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 11 | 7.4% | |
| 2 | Specialized Freight TruckingNAICS 4842 | 8 | 5.4% | |
| 3 | Other Amusement and Recreation IndustriesNAICS 7139 | 8 | 5.4% | |
| 4 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 7 | 4.7% | |
| 5 | Management, Scientific, and Technical Consulting ServicesNAICS 5416 | 6 | 4.0% | |
| 6 | Beverage ManufacturingNAICS 3121 | 6 | 4.0% | |
| 7 | Miscellaneous Nondurable Goods Merchant WholesalersNAICS 4249 | 5 | 3.4% | |
| 8 | Other Specialty Trade ContractorsNAICS 2389 | 4 | 2.7% | |
| 9 | Home Health Care ServicesNAICS 6216 | 4 | 2.7% | |
| 10 | Automotive Repair and MaintenanceNAICS 8111 | 4 | 2.7% |
Approval sizes
- $50,000 or less8.7%13
- $50,001 to $150,00010.1%15
- $150,001 to $350,00032.2%48
- $350,001 to $1 million36.2%54
- $1 million to $2 million5.4%8
- Over $2 million7.4%11
Loan terms
- 5 years or less4.7%7
- Over 5 to 10 years73.8%110
- Over 10 to 20 years12.1%18
- Over 20 years9.4%14
Age of the businesses
- Existing, more than 2 years old55.7%83
- New business, 2 years or less10.1%15
- Startup, loan funds will open the business16.8%25
- Change of ownership17.4%26
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 99 | 66.4% | |
| 2 | SBA Express Program | 33 | 22.1% | |
| 3 | Working Capital CAPLine | 5 | 3.4% | |
| 4 | 7a with EWCP | 5 | 3.4% | |
| 5 | 7a General | 3 | 2.0% | |
| 6 | Seasonal CAPLine | 2 | 1.3% |
Franchise share
23 of 149 approvals in FY2021–FY2025 (15.4%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Nautical Bowls | 5 | 3.4% | |
| 2 | Two Men and a Truck | 3 | 2.0% | |
| 3 | Discover Strength | 2 | 1.3% | |
| 4 | Fsbohomes | 2 | 1.3% | |
| 5 | Molo Petroleum | 1 | 0.7% | |
| 6 | Midas | 1 | 0.7% | |
| 7 | Fastsigns | 1 | 0.7% | |
| 8 | WaveMAX Laundry | 1 | 0.7% |
Questions and answers
How many SBA loans does Minnwest Bank make?
SBA approved 30 7(a) loans through Minnwest Bank in FY2025, worth $18.1M, and 149 over FY2021 to FY2025. That ranks 241st of 2,184 active 7(a) lenders by number of approvals.
How large are Minnwest Bank's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $350K and the average $640K. The program-wide median was $190K.
What is Minnwest Bank's charge-off rate?
Of 257 disbursed loans approved in FY2010 to FY2021, SBA records 10 as charged off (3.9%), 202 as paid in full and 45 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below 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 Minnwest Bank lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (11); specialized freight trucking (8); other amusement and recreation industries (8); other professional, scientific, and technical services (7).
Where does Minnwest Bank make SBA loans?
In 3 states and territories. Minnesota 135, South Dakota 9, Wisconsin 5. In Minnesota it accounts for 1.6% of all 7(a) approvals.
Is Minnwest Bank's SBA lending rising?
Approvals in the three latest complete fiscal years total 60, against 123 in the three before: falling (-51%).
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