Lenders › Red River State Bank
7(a) lenderHalstad, MinnesotaFDIC-insured bank407th of 2,184 by approvals
Red River State 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.
Red River State Bank (Halstad, Minnesota) is an FDIC-insured bank in the SBA 7(a) program, 407th of 2,184 by approvals in FY2021 to FY2025: 71 loans worth $54.2M.
In FY2025, the latest complete fiscal year, it had 2 approvals totalling —. FY2026 to 30 Jun 2026 adds 4 more.
The median approval was $467K, against $190K for the 7(a) program as a whole; 28.2% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 5 states and territories and 16 counties, led by Minnesota (69.0%), North Dakota (16.9%) and South Dakota (11.3%). The largest industry group was agriculture, forestry, fishing and hunting at 53.5% of approvals.
Of 172 disbursed loans approved in FY2010 to FY2021, SBA records 8 as charged off (4.7%), 132 as paid in full and 32 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* | 4 | $2.9M | $298K | $725K | 100 |
| FY2025 | 2 | — | — | — | 6 |
| FY2024 | 0 | — | — | — | 0 |
| FY2023 | 4 | $1.8M | $250K | $449K | 27 |
| FY2022 | 3 | $1.0M | $350K | $343K | 13 |
| FY2021 | 62 | $48.3M | $479K | $780K | 204 |
| FY2020 | 24 | $5.1M | $138K | $212K | 82 |
| FY2019 | 10 | $1.2M | $115K | $117K | 38 |
| FY2018 | 17 | $5.6M | $263K | $330K | 46 |
| FY2017 | 4 | $518K | $150K | $129K | 25 |
| FY2016 | 8 | $1.2M | $125K | $153K | 77 |
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 63 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 | 182 | 18,934 | 639,905 |
| Cancelled or never disbursed | 10 | 2,040 | 79,313 |
| Disbursed loans | 172 | 16,894 | 560,592 |
| Paid in full | 132 | 13,664 | 435,813 |
| Charged off | 8 | 778 | 36,891 |
| Still outstanding (status exempt from disclosure) | 32 | 2,452 | 87,888 |
| Charged off, share of disbursed loans | 4.7% | 4.6% | 6.6% |
| Dollars charged off, share of disbursed dollars | 0.7% | 2.4% | 2.5% |
| Dollars charged off | $442K | $131M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 59 | 38 | 0 | 0.0% | 2.8% |
| FY2020 | 23 | 20 | 0 | — | 4.0% |
| FY2019 | 9 | 6 | 1 | — | 6.7% |
| FY2018 | 17 | 15 | 0 | — | 7.9% |
| FY2017 | 4 | 2 | 1 | — | 7.7% |
| FY2016 | 8 | 6 | 2 | — | 7.2% |
| FY2015 | 4 | 2 | 1 | — | 6.9% |
| FY2014 | 6 | 5 | 0 | — | 6.4% |
| FY2013 | 8 | 7 | 1 | — | 6.0% |
| FY2012 | 4 | 3 | 0 | — | 6.3% |
| FY2011 | 21 | 19 | 2 | — | 6.9% |
| FY2010 | 9 | 9 | 0 | — | 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 | $467K | $190K |
| Average approval | $763K | $518K |
| Approvals of $150,000 or less | 28.2% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 23.9% | 34.3% |
| Approvals to franchise businesses | 0.0% | 11.5% |
| Jobs supported per approval, as reported | 3.5 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 4.7% | 6.6% |
States served
| # | State of the business (5 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Minnesota | 49 | $29.8M | 69.0% | |
| 2 | North Dakota | 12 | $14.8M | 16.9% | |
| 3 | South Dakota | 8 | $8.6M | 11.3% | |
| 4 | California | 1 | — | 1.4% | |
| 5 | Wisconsin | 1 | — | 1.4% |
In Minnesota the lender accounts for 0.6% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (16 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Norman County, MN | 12 | $7.2M | 16.9% | |
| 2 | Polk County, MN | 11 | $1.4M | 15.5% | |
| 3 | Cass County, ND | 7 | $7.5M | 9.9% | |
| 4 | Mahnomen County, MN | 6 | $1.6M | 8.5% | |
| 5 | Codington County, SD | 5 | $7.6M | 7.0% | |
| 6 | Otter Tail County, MN | 5 | $5.5M | 7.0% | |
| 7 | Clay County, MN | 5 | $2.7M | 7.0% | |
| 8 | Bottineau County, ND | 4 | $6.3M | 5.6% | |
| 9 | Scott County, MN | 4 | $857K | 5.6% | |
| 10 | Traverse County, MN | 3 | $6.1M | 4.2% | |
| 11 | Clearwater County, MN | 3 | $4.4M | 4.2% | |
| 12 | Spink County, SD | 2 | — | 2.8% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Agriculture, Forestry, Fishing and Hunting | 38 | 53.5% | |
| 2 | Construction | 15 | 21.1% | |
| 3 | Administrative and Support and Waste Management and Remediation Services | 7 | 9.9% | |
| 4 | Arts, Entertainment, and Recreation | 4 | 5.6% | |
| 5 | Transportation and Warehousing | 2 | 2.8% | |
| 6 | Retail Trade | 2 | 2.8% | |
| 7 | Other Services (except Public Administration) | 2 | 2.8% | |
| 8 | Real Estate and Rental and Leasing | 1 | 1.4% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Oilseed and Grain FarmingNAICS 1111 | 26 | 36.6% | |
| 2 | Residential Building ConstructionNAICS 2361 | 8 | 11.3% | |
| 3 | Services to Buildings and DwellingsNAICS 5617 | 7 | 9.9% | |
| 4 | Other Heavy and Civil Engineering ConstructionNAICS 2379 | 6 | 8.5% | |
| 5 | Cattle Ranching and FarmingNAICS 1121 | 4 | 5.6% | |
| 6 | Support Activities for Crop ProductionNAICS 1151 | 4 | 5.6% | |
| 7 | Independent Artists, Writers, and PerformersNAICS 7115 | 3 | 4.2% | |
| 8 | Support Activities for Animal ProductionNAICS 1152 | 2 | 2.8% | |
| 9 | Other Crop FarmingNAICS 1119 | 2 | 2.8% | |
| 10 | FloristsNAICS 4531 | 2 | 2.8% |
Approval sizes
- $50,000 or less14.1%10
- $50,001 to $150,00014.1%10
- $150,001 to $350,00019.7%14
- $350,001 to $1 million22.5%16
- $1 million to $2 million21.1%15
- Over $2 million8.5%6
Loan terms
- 5 years or less29.6%21
- Over 5 to 10 years52.1%37
- Over 10 to 20 years11.3%8
- Over 20 years7.0%5
Age of the businesses
- Existing, more than 2 years old76.1%54
- New business, 2 years or less12.7%9
- Startup, loan funds will open the business11.3%8
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 35 | 49.3% | |
| 2 | SBA Express Program | 17 | 23.9% | |
| 3 | Seasonal CAPLine | 16 | 22.5% | |
| 4 | Working Capital CAPLine | 2 | 2.8% | |
| 5 | Builders CAPLine | 1 | 1.4% |
Franchise share
0 of 71 approvals in FY2021–FY2025 (0.0%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
Questions and answers
How many SBA loans does Red River State Bank make?
SBA approved 2 7(a) loans through Red River State Bank in FY2025, worth —, and 71 over FY2021 to FY2025. That ranks 407th of 2,184 active 7(a) lenders by number of approvals.
How large are Red River State Bank's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $467K and the average $763K. The program-wide median was $190K.
What is Red River State Bank's charge-off rate?
Of 172 disbursed loans approved in FY2010 to FY2021, SBA records 8 as charged off (4.7%), 132 as paid in full and 32 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 Red River State Bank lend to most?
By number of approvals in FY2021 to FY2025: oilseed and grain farming (26); residential building construction (8); services to buildings and dwellings (7); other heavy and civil engineering construction (6).
Where does Red River State Bank make SBA loans?
In 5 states and territories. Minnesota 49, North Dakota 12, South Dakota 8, California 1, Wisconsin 1. In Minnesota it accounts for 0.6% of all 7(a) approvals.
Is Red River State Bank's SBA lending rising?
Approvals in the three latest complete fiscal years total 6, against 89 in the three before: falling (-93%).
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