Lenders › Security Bank USA
7(a) lenderBemidji, MinnesotaFDIC-insured bank301st of 2,184 by approvals
Security Bank USA
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 109 7(a) loans, worth $13.9M, through Security Bank USA of Bemidji, Minnesota, an FDIC-insured bank in the SBA 7(a) program. By number of approvals that is 301st among 2,184 active 7(a) lenders.
In FY2025, the latest complete fiscal year, it had 15 approvals totalling $1.6M, up 15% on FY2024 (13). FY2026 to 30 Jun 2026 adds 5 more.
The median approval was $52K, against $190K for the 7(a) program as a whole; 82.6% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 2 states and territories and 9 counties, led by Minnesota (97.2%) and Tennessee (2.8%). The largest industry group was transportation and warehousing at 24.8% of approvals, and 3.7% of approvals were to franchise businesses.
Of 234 disbursed loans approved in FY2010 to FY2021, SBA records 2 as charged off (0.9%), 184 as paid in full and 48 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* | 5 | $2.0M | $100K | $408K | 28 |
| FY2025 | 15 | $1.6M | $50K | $104K | 43 |
| FY2024 | 13 | $1.7M | $100K | $131K | 68 |
| FY2023 | 20 | $3.9M | $73K | $195K | 62 |
| FY2022 | 18 | $2.4M | $43K | $135K | 161 |
| FY2021 | 43 | $4.4M | $50K | $101K | 185 |
| FY2020 | 53 | $4.7M | $58K | $89K | 242 |
| FY2019 | 44 | $5.1M | $59K | $116K | 420 |
| FY2018 | 17 | $3.7M | $61K | $218K | 128 |
| FY2017 | 18 | $4.8M | $73K | $267K | 194 |
| FY2016 | 23 | $2.0M | $68K | $87K | 192 |
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 155 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 | 247 | 18,934 | 639,905 |
| Cancelled or never disbursed | 13 | 2,040 | 79,313 |
| Disbursed loans | 234 | 16,894 | 560,592 |
| Paid in full | 184 | 13,664 | 435,813 |
| Charged off | 2 | 778 | 36,891 |
| Still outstanding (status exempt from disclosure) | 48 | 2,452 | 87,888 |
| Charged off, share of disbursed loans | 0.9% | 4.6% | 6.6% |
| Dollars charged off, share of disbursed dollars | 0.8% | 2.4% | 2.5% |
| Dollars charged off | $258K | $131M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 41 | 26 | 0 | 0.0% | 2.8% |
| FY2020 | 52 | 38 | 0 | 0.0% | 4.0% |
| FY2019 | 41 | 27 | 0 | 0.0% | 6.7% |
| FY2018 | 17 | 13 | 1 | — | 7.9% |
| FY2017 | 18 | 18 | 0 | — | 7.7% |
| FY2016 | 22 | 19 | 1 | — | 7.2% |
| FY2015 | 9 | 9 | 0 | — | 6.9% |
| FY2014 | 7 | 7 | 0 | — | 6.4% |
| FY2013 | 4 | 4 | 0 | — | 6.0% |
| FY2012 | 7 | 7 | 0 | — | 6.3% |
| FY2011 | 6 | 6 | 0 | — | 6.9% |
| FY2010 | 10 | 10 | 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 | $52K | $190K |
| Average approval | $128K | $518K |
| Approvals of $150,000 or less | 82.6% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 55.0% | 34.3% |
| Approvals to franchise businesses | 3.7% | 11.5% |
| Jobs supported per approval, as reported | 4.8 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 0.9% | 6.6% |
States served
| # | State of the business (2 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Minnesota | 106 | $13.4M | 97.2% | |
| 2 | Tennessee | 3 | $505K | 2.8% |
In Minnesota the lender accounts for 1.3% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (9 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Beltrami County, MN | 71 | $9.9M | 65.1% | |
| 2 | Hubbard County, MN | 12 | $1.4M | 11.0% | |
| 3 | Cass County, MN | 12 | $333K | 11.0% | |
| 4 | Clearwater County, MN | 7 | $1.4M | 6.4% | |
| 5 | Montgomery County, TN | 3 | $505K | 2.8% | |
| 6 | Dakota County, MN | 1 | — | 0.9% | |
| 7 | Renville County, MN | 1 | — | 0.9% | |
| 8 | Lake of the Woods County, MN | 1 | — | 0.9% | |
| 9 | Itasca County, MN | 1 | — | 0.9% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Transportation and Warehousing | 27 | 24.8% | |
| 2 | Construction | 17 | 15.6% | |
| 3 | Accommodation and Food Services | 13 | 11.9% | |
| 4 | Manufacturing | 8 | 7.3% | |
| 5 | Administrative and Support and Waste Management and Remediation Services | 8 | 7.3% | |
| 6 | Agriculture, Forestry, Fishing and Hunting | 8 | 7.3% | |
| 7 | Wholesale Trade | 7 | 6.4% | |
| 8 | Retail Trade | 6 | 5.5% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Specialized Freight TruckingNAICS 4842 | 16 | 14.7% | |
| 2 | Other Specialty Trade ContractorsNAICS 2389 | 10 | 9.2% | |
| 3 | General Freight TruckingNAICS 4841 | 9 | 8.3% | |
| 4 | Restaurants and Other Eating PlacesNAICS 7225 | 6 | 5.5% | |
| 5 | Miscellaneous Durable Goods Merchant WholesalersNAICS 4239 | 6 | 5.5% | |
| 6 | Services to Buildings and DwellingsNAICS 5617 | 6 | 5.5% | |
| 7 | RV (Recreational Vehicle) Parks and Recreational CampsNAICS 7212 | 5 | 4.6% | |
| 8 | Other Amusement and Recreation IndustriesNAICS 7139 | 5 | 4.6% | |
| 9 | Cattle Ranching and FarmingNAICS 1121 | 4 | 3.7% | |
| 10 | Building Equipment ContractorsNAICS 2382 | 3 | 2.8% |
Approval sizes
- $50,000 or less49.5%54
- $50,001 to $150,00033.0%36
- $150,001 to $350,00011.9%13
- $350,001 to $1 million3.7%4
- $1 million to $2 million1.8%2
Loan terms
- 5 years or less54.1%59
- Over 5 to 10 years41.3%45
- Over 10 to 20 years2.8%3
- Over 20 years1.8%2
Age of the businesses
- Existing, more than 2 years old45.0%49
- New business, 2 years or less32.1%35
- Startup, loan funds will open the business22.9%25
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | SBA Express Program | 101 | 92.7% | |
| 2 | 7a General | 7 | 6.4% | |
| 3 | Working Capital CAPLine | 1 | 0.9% |
Franchise share
4 of 109 approvals in FY2021–FY2025 (3.7%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Snap Fitness | 2 | 1.8% | |
| 2 | Little Caesars | 1 | 0.9% | |
| 3 | Fundraising University | 1 | 0.9% |
Questions and answers
How many SBA loans does Security Bank USA make?
SBA approved 15 7(a) loans through Security Bank USA in FY2025, worth $1.6M, and 109 over FY2021 to FY2025. That ranks 301st of 2,184 active 7(a) lenders by number of approvals.
How large are Security Bank USA's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $52K and the average $128K. The program-wide median was $190K.
What is Security Bank USA's charge-off rate?
Of 234 disbursed loans approved in FY2010 to FY2021, SBA records 2 as charged off (0.9%), 184 as paid in full and 48 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 Security Bank USA lend to most?
By number of approvals in FY2021 to FY2025: specialized freight trucking (16); other specialty trade contractors (10); general freight trucking (9); restaurants and other eating places (6).
Where does Security Bank USA make SBA loans?
In 2 states and territories. Minnesota 106, Tennessee 3. In Minnesota it accounts for 1.3% of all 7(a) approvals.
Is Security Bank USA's SBA lending rising?
Approvals in the three latest complete fiscal years total 48, against 114 in the three before: falling (-58%).
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