Lenders › Ultima Bank Minnesota
7(a) lenderWinger, MinnesotaFDIC-insured bank281st of 2,184 by approvals
Ultima Bank Minnesota
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 120 7(a) loans, worth $35.3M, through Ultima Bank Minnesota of Winger, Minnesota, an FDIC-insured bank in the SBA 7(a) program. By number of approvals that is 281st among 2,184 active 7(a) lenders.
In FY2025, the latest complete fiscal year, it had 5 approvals totalling $1.1M, down 64% on FY2024 (14). FY2026 to 30 Jun 2026 adds 3 more.
The median approval was $139K, against $190K for the 7(a) program as a whole; 54.2% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 3 states and territories and 19 counties, led by Minnesota (95.0%), North Dakota (4.2%) and Oklahoma (0.8%). The largest industry group was agriculture, forestry, fishing and hunting at 50.0% of approvals, and 1.7% of approvals were to franchise businesses.
Of 262 disbursed loans approved in FY2010 to FY2021, SBA records 4 as charged off (1.5%), 199 as paid in full and 59 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* | 3 | $445K | $170K | $148K | 12 |
| FY2025 | 5 | $1.1M | $135K | $217K | 36 |
| FY2024 | 14 | $4.7M | $198K | $337K | 68 |
| FY2023 | 11 | $5.2M | $100K | $476K | 68 |
| FY2022 | 17 | $4.0M | $172K | $237K | 60 |
| FY2021 | 73 | $20.2M | $100K | $277K | 782 |
| FY2020 | 45 | $8.3M | $80K | $183K | 243 |
| FY2019 | 10 | $1.3M | $96K | $126K | 56 |
| FY2018 | 8 | $653K | $112K | $82K | 45 |
| FY2017 | 18 | $4.7M | $77K | $264K | 126 |
| FY2016 | 26 | $6.5M | $65K | $250K | 268 |
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 107 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 | 275 | 18,934 | 639,905 |
| Cancelled or never disbursed | 13 | 2,040 | 79,313 |
| Disbursed loans | 262 | 16,894 | 560,592 |
| Paid in full | 199 | 13,664 | 435,813 |
| Charged off | 4 | 778 | 36,891 |
| Still outstanding (status exempt from disclosure) | 59 | 2,452 | 87,888 |
| Charged off, share of disbursed loans | 1.5% | 4.6% | 6.6% |
| Dollars charged off, share of disbursed dollars | 1.5% | 2.4% | 2.5% |
| Dollars charged off | $842K | $131M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 71 | 36 | 0 | 0.0% | 2.8% |
| FY2020 | 44 | 33 | 0 | 0.0% | 4.0% |
| FY2019 | 10 | 5 | 0 | — | 6.7% |
| FY2018 | 7 | 5 | 0 | — | 7.9% |
| FY2017 | 16 | 14 | 1 | — | 7.7% |
| FY2016 | 26 | 25 | 0 | — | 7.2% |
| FY2015 | 18 | 18 | 0 | — | 6.9% |
| FY2014 | 15 | 14 | 0 | — | 6.4% |
| FY2013 | 10 | 9 | 1 | — | 6.0% |
| FY2012 | 7 | 7 | 0 | — | 6.3% |
| FY2011 | 24 | 20 | 2 | — | 6.9% |
| FY2010 | 14 | 13 | 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 | $139K | $190K |
| Average approval | $294K | $518K |
| Approvals of $150,000 or less | 54.2% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 16.7% | 34.3% |
| Approvals to franchise businesses | 1.7% | 11.5% |
| Jobs supported per approval, as reported | 8.5 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 1.5% | 6.6% |
States served
| # | State of the business (3 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Minnesota | 114 | $32.9M | 95.0% | |
| 2 | North Dakota | 5 | $2.2M | 4.2% | |
| 3 | Oklahoma | 1 | — | 0.8% |
In Minnesota the lender accounts for 1.4% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (19 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Polk County, MN | 32 | $6.6M | 26.7% | |
| 2 | Beltrami County, MN | 31 | $6.8M | 25.8% | |
| 3 | Clearwater County, MN | 11 | $2.3M | 9.2% | |
| 4 | Mahnomen County, MN | 9 | $1.1M | 7.5% | |
| 5 | Lake of the Woods County, MN | 6 | $2.4M | 5.0% | |
| 6 | Hubbard County, MN | 5 | $594K | 4.2% | |
| 7 | Itasca County, MN | 4 | $5.2M | 3.3% | |
| 8 | Walsh County, ND | 4 | $1.8M | 3.3% | |
| 9 | Pennington County, MN | 3 | $506K | 2.5% | |
| 10 | Cass County, MN | 3 | $274K | 2.5% | |
| 11 | Marshall County, MN | 2 | — | 1.7% | |
| 12 | Becker County, MN | 2 | — | 1.7% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Agriculture, Forestry, Fishing and Hunting | 60 | 50.0% | |
| 2 | Retail Trade | 10 | 8.3% | |
| 3 | Manufacturing | 8 | 6.7% | |
| 4 | Real Estate and Rental and Leasing | 7 | 5.8% | |
| 5 | Accommodation and Food Services | 7 | 5.8% | |
| 6 | Transportation and Warehousing | 6 | 5.0% | |
| 7 | Other Services (except Public Administration) | 5 | 4.2% | |
| 8 | Arts, Entertainment, and Recreation | 5 | 4.2% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Cattle Ranching and FarmingNAICS 1121 | 36 | 30.0% | |
| 2 | Oilseed and Grain FarmingNAICS 1111 | 23 | 19.2% | |
| 3 | Other Amusement and Recreation IndustriesNAICS 7139 | 4 | 3.3% | |
| 4 | Drinking Places (Alcoholic Beverages)NAICS 7224 | 4 | 3.3% | |
| 5 | Automotive Parts, Accessories, and Tire StoresNAICS 4413 | 3 | 2.5% | |
| 6 | Activities Related to Real EstateNAICS 5313 | 3 | 2.5% | |
| 7 | Automotive Repair and MaintenanceNAICS 8111 | 3 | 2.5% | |
| 8 | Other Miscellaneous ManufacturingNAICS 3399 | 3 | 2.5% | |
| 9 | Commercial and Industrial Machinery and Equipment Rental and LeasingNAICS 5324 | 2 | 1.7% | |
| 10 | Lessors of Real EstateNAICS 5311 | 2 | 1.7% |
Approval sizes
- $50,000 or less25.8%31
- $50,001 to $150,00028.3%34
- $150,001 to $350,00027.5%33
- $350,001 to $1 million14.2%17
- $1 million to $2 million2.5%3
- Over $2 million1.7%2
Loan terms
- 5 years or less39.2%47
- Over 5 to 10 years33.3%40
- Over 10 to 20 years15.0%18
- Over 20 years12.5%15
Age of the businesses
- Existing, more than 2 years old82.5%99
- New business, 2 years or less9.2%11
- Startup, loan funds will open the business7.5%9
- Change of ownership0.8%1
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | SBA Express Program | 88 | 73.3% | |
| 2 | Preferred Lenders Program | 28 | 23.3% | |
| 3 | Working Capital CAPLine | 2 | 1.7% | |
| 4 | 7a General | 2 | 1.7% |
Franchise share
2 of 120 approvals in FY2021–FY2025 (1.7%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Big Apple Bagels | 1 | 0.8% | |
| 2 | H&R Block | 1 | 0.8% |
Questions and answers
How many SBA loans does Ultima Bank Minnesota make?
SBA approved 5 7(a) loans through Ultima Bank Minnesota in FY2025, worth $1.1M, and 120 over FY2021 to FY2025. That ranks 281st of 2,184 active 7(a) lenders by number of approvals.
How large are Ultima Bank Minnesota's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $139K and the average $294K. The program-wide median was $190K.
What is Ultima Bank Minnesota's charge-off rate?
Of 262 disbursed loans approved in FY2010 to FY2021, SBA records 4 as charged off (1.5%), 199 as paid in full and 59 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 Ultima Bank Minnesota lend to most?
By number of approvals in FY2021 to FY2025: cattle ranching and farming (36); oilseed and grain farming (23); other amusement and recreation industries (4); drinking places (alcoholic beverages) (4).
Where does Ultima Bank Minnesota make SBA loans?
In 3 states and territories. Minnesota 114, North Dakota 5, Oklahoma 1. In Minnesota it accounts for 1.4% of all 7(a) approvals.
Is Ultima Bank Minnesota's SBA lending rising?
Approvals in the three latest complete fiscal years total 30, against 135 in the three before: falling (-78%).
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