FY20161 Oct 2015 – 30 Sep 2016
SBA loans in Minnesota, FY2016
That fiscal year's approvals by lender and by county.
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 FY2016 (1 October 2015 to 30 September 2016) SBA approved 1,949 loans in Minnesota: 1,674 under 7(a) and 275 under 504, worth $685M.
That is about level with FY2015, when there were 1,912 approvals worth $594M.
Minnesota accounted for 2.8% of the 70,012 approvals nationwide that year. 158 lenders had at least one approval in the state; Wells Fargo Bank National Association had the most, 340.
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. Data through 30 Jun 2026.
Approvals by lender
The 40 lenders with the most approvals to Minnesota businesses in FY2016, of 158 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2015 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Wells Fargo Bank National Association | 7(a) | 340 | $69.8M | 17.4% | 277 | +63 |
| 2 | U.S. Bank, National Association | 7(a) | 158 | $40.7M | 8.1% | 181 | -23 |
| 3 | Old National Bank | 7(a) | 143 | $52.0M | 7.3% | 137 | +6 |
| 4 | Midwest Business Finance Corporation | 504 | 114 | $63.3M | 5.8% | 105 | +9 |
| 5 | Twin Cities-Metro Certified Development Company | 504 | 68 | $52.0M | 3.5% | 49 | +19 |
| 6 | Highland Bank | 7(a) | 56 | $9.8M | 2.9% | 57 | -1 |
| 7 | Amplio Economic Development Corporation | 504 | 53 | $32.8M | 2.7% | 48 | +5 |
| 8 | Stearns Bank National Association | 7(a) | 50 | $20.0M | 2.6% | 36 | +14 |
| 9 | Choice Financial Group | 7(a) | 50 | $18.2M | 2.6% | 67 | -17 |
| 10 | BankVista | 7(a) | 42 | $20.7M | 2.2% | 31 | +11 |
| 11 | 21st Century Bank | 7(a) | 41 | $13.6M | 2.1% | 58 | -17 |
| 12 | Sunrise Banks National Association | 7(a) | 30 | $7.4M | 1.5% | 51 | -21 |
| 13 | Ultima Bank Minnesota | 7(a) | 26 | $6.5M | 1.3% | 18 | +8 |
| 14 | Woodlands National Bank | 7(a) | 25 | $7.1M | 1.3% | 19 | +6 |
| 15 | Falcon National Bank | 7(a) | 24 | $9.6M | 1.2% | 39 | -15 |
| 16 | Northeast Bank | 7(a) | 21 | $4.2M | 1.1% | 19 | +2 |
| 17 | Granite Bank | 7(a) | 21 | $3.2M | 1.1% | 4 | +17 |
| 18 | Nicolet National Bank | 7(a) | 19 | $8.6M | 1.0% | 27 | -8 |
| 19 | Platinum Bank | 7(a) | 19 | $8.0M | 1.0% | 14 | +5 |
| 20 | Celtic Bank Corporation | 7(a) | 19 | $3.3M | 1.0% | 9 | +10 |
| 21 | Security Bank USA | 7(a) | 19 | $1.8M | 1.0% | 10 | +9 |
| 22 | Central Minnesota Development Company | 504 | 17 | $19.2M | 0.9% | 16 | +1 |
| 23 | Alerus Financial, National Association | 7(a) | 17 | $12.7M | 0.9% | 7 | +10 |
| 24 | Frandsen Bank and Trust | 7(a) | 17 | $2.9M | 0.9% | 17 | 0 |
| 25 | Associated Bank National Association | 7(a) | 16 | $1.6M | 0.8% | 32 | -16 |
| 26 | Bravera Bank | 7(a) | 15 | $2.5M | 0.8% | 12 | +3 |
| 27 | Premier Bank Minnesota | 7(a) | 15 | $1.9M | 0.8% | 3 | +12 |
| 28 | Live Oak Banking Company | 7(a) | 14 | $14.8M | 0.7% | 11 | +3 |
| 29 | Pioneer Bank | 7(a) | 14 | $2.0M | 0.7% | 33 | -19 |
| 30 | UMB Bank, National Association | 7(a) | 13 | $5.9M | 0.7% | 12 | +1 |
| 31 | Security State Bank of Aitkin | 7(a) | 13 | $1.2M | 0.7% | 8 | +5 |
| 32 | Southeastern Minnesota 504 Development Corporation | 504 | 12 | $8.7M | 0.6% | 15 | -3 |
| 33 | Merchants Bank, National Association | 7(a) | 12 | $3.4M | 0.6% | 18 | -6 |
| 34 | Lake Region Bank | 7(a) | 12 | $2.8M | 0.6% | 11 | +1 |
| 35 | Minnwest Bank | 7(a) | 11 | $5.3M | 0.6% | 8 | +3 |
| 36 | Minnstar Bank National Association | 7(a) | 11 | $1.7M | 0.6% | 9 | +2 |
| 37 | Citizens Bank & Trust Co | 7(a) | 11 | $905K | 0.6% | 10 | +1 |
| 38 | Byline Bank | 7(a) | 10 | $14.3M | 0.5% | 6 | +4 |
| 39 | CorTrust Bank National Association | 7(a) | 10 | $2.5M | 0.5% | 3 | +7 |
| 40 | MidCountry Bank | 7(a) | 9 | $6.5M | 0.5% | 6 | +3 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2015 | Change |
|---|---|---|---|---|---|---|
| 1 | Hennepin County | 575 | $199M | 29.5% | 531 | +44 |
| 2 | Ramsey County | 180 | $56.0M | 9.2% | 184 | -4 |
| 3 | Dakota County | 119 | $50.0M | 6.1% | 122 | -3 |
| 4 | Anoka County | 115 | $45.6M | 5.9% | 112 | +3 |
| 5 | Washington County | 91 | $36.7M | 4.7% | 82 | +9 |
| 6 | Stearns County | 75 | $30.6M | 3.8% | 77 | -2 |
| 7 | Scott County | 66 | $20.4M | 3.4% | 41 | +25 |
| 8 | Wright County | 58 | $12.1M | 3.0% | 57 | +1 |
| 9 | Carver County | 42 | $18.9M | 2.2% | 45 | -3 |
| 10 | St. Louis County | 41 | $12.0M | 2.1% | 40 | +1 |
| 11 | Crow Wing County | 39 | $14.3M | 2.0% | 38 | +1 |
| 12 | Olmsted County | 35 | $10.1M | 1.8% | 20 | +15 |
| 13 | Blue Earth County | 31 | $5.0M | 1.6% | 42 | -11 |
| 14 | Sherburne County | 29 | $20.1M | 1.5% | 41 | -12 |
| 15 | Beltrami County | 26 | $5.9M | 1.3% | 23 | +3 |
| 16 | Benton County | 25 | $13.0M | 1.3% | 20 | +5 |
| 17 | Rice County | 25 | $9.0M | 1.3% | 18 | +7 |
| 18 | Polk County | 23 | $8.4M | 1.2% | 19 | +4 |
| 19 | Kandiyohi County | 22 | $9.1M | 1.1% | 23 | -1 |
| 20 | Chisago County | 18 | $3.8M | 0.9% | 18 | 0 |
| 21 | Aitkin County | 16 | $8.2M | 0.8% | 12 | +4 |
| 22 | Winona County | 15 | $8.4M | 0.8% | 6 | +9 |
| 23 | McLeod County | 14 | $2.0M | 0.7% | 20 | -6 |
| 24 | Brown County | 14 | $1.6M | 0.7% | 5 | +9 |
| 25 | Otter Tail County | 14 | $1.7M | 0.7% | 16 | -2 |
| 26 | Douglas County | 12 | $3.7M | 0.6% | 23 | -11 |
| 27 | Nicollet County | 12 | $3.3M | 0.6% | 8 | +4 |
| 28 | Pine County | 11 | $2.0M | 0.6% | 9 | +2 |
| 29 | Isanti County | 11 | $1.7M | 0.6% | 10 | +1 |
| 30 | Clay County | 11 | $4.0M | 0.6% | 13 | -2 |
| 31 | Cass County | 9 | $1.5M | 0.5% | 11 | -2 |
| 32 | Mille Lacs County | 9 | $2.7M | 0.5% | 17 | -8 |
| 33 | Steele County | 9 | $1.6M | 0.5% | 20 | -11 |
| 34 | Carlton County | 8 | $2.1M | 0.4% | 9 | -1 |
| 35 | Goodhue County | 8 | $2.3M | 0.4% | 7 | +1 |
| 36 | Meeker County | 7 | $3.3M | 0.4% | 6 | +1 |
| 37 | Freeborn County | 7 | $1.8M | 0.4% | 7 | 0 |
| 38 | Becker County | 7 | $1.3M | 0.4% | 6 | +1 |
| 39 | Kanabec County | 7 | $833K | 0.4% | 14 | -7 |
| 40 | Morrison County | 7 | $3.7M | 0.4% | 6 | +1 |
The 40 counties with the most approvals; every county is on the Minnesota page.
FY2016 against FY2015
| Minnesota | FY2016 | FY2015 |
|---|---|---|
| 7(a) approvals | 1,674 | 1,668 |
| 7(a) dollars | $506M | $456M |
| Median 7(a) approval | $100K | $100K |
| 504 approvals | 275 | 244 |
| 504 dollars | $179M | $139M |
| Jobs supported, as reported | 22,496 | 22,126 |
Questions and answers
Which lenders made the most SBA loans in Minnesota in FY2016?
Wells Fargo Bank National Association (340), U.S. Bank, National Association (158), Old National Bank (143), Midwest Business Finance Corporation (114), Twin Cities-Metro Certified Development Company (68). 158 lenders had at least one approval.
How many SBA loans were approved in Minnesota in FY2016?
1,949: 1,674 under 7(a) worth $506M and 275 under 504 worth $179M.
Which Minnesota counties had the most SBA approvals in FY2016?
Hennepin County (575), Ramsey County (180), Dakota County (119), Anoka County (115), Washington County (91).
When does FY2016 start and end?
The federal fiscal year 2016 runs from 1 October 2015 to 30 September 2016.
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