FY20171 Oct 2016 – 30 Sep 2017
SBA loans in Minnesota, FY2017
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 FY2017 (1 October 2016 to 30 September 2017) SBA approved 1,908 loans in Minnesota: 1,632 under 7(a) and 276 under 504, worth $681M.
That is about level with FY2016, when there were 1,949 approvals worth $685M.
Minnesota accounted for 2.8% of the 68,648 approvals nationwide that year. 172 lenders had at least one approval in the state; Wells Fargo Bank National Association had the most, 209.
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 FY2017, of 172 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2016 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Wells Fargo Bank National Association | 7(a) | 209 | $66.0M | 11.0% | 340 | -131 |
| 2 | Old National Bank | 7(a) | 143 | $53.2M | 7.5% | 143 | 0 |
| 3 | U.S. Bank, National Association | 7(a) | 135 | $30.8M | 7.1% | 158 | -23 |
| 4 | Midwest Business Finance Corporation | 504 | 118 | $62.7M | 6.2% | 114 | +4 |
| 5 | Twin Cities-Metro Certified Development Company | 504 | 73 | $51.1M | 3.8% | 68 | +5 |
| 6 | 21st Century Bank | 7(a) | 50 | $16.9M | 2.6% | 41 | +9 |
| 7 | Sunrise Banks National Association | 7(a) | 49 | $13.5M | 2.6% | 30 | +19 |
| 8 | BankVista | 7(a) | 46 | $13.6M | 2.4% | 42 | +4 |
| 9 | Choice Financial Group | 7(a) | 40 | $16.7M | 2.1% | 50 | -10 |
| 10 | Amplio Economic Development Corporation | 504 | 39 | $19.9M | 2.0% | 53 | -14 |
| 11 | Highland Bank | 7(a) | 36 | $11.5M | 1.9% | 56 | -20 |
| 12 | Stearns Bank National Association | 7(a) | 34 | $11.3M | 1.8% | 50 | -16 |
| 13 | Frandsen Bank and Trust | 7(a) | 30 | $6.5M | 1.6% | 17 | +13 |
| 14 | Platinum Bank | 7(a) | 29 | $20.9M | 1.5% | 19 | +10 |
| 15 | Bravera Bank | 7(a) | 29 | $5.0M | 1.5% | 15 | +14 |
| 16 | Granite Bank | 7(a) | 22 | $1.8M | 1.2% | 21 | +1 |
| 17 | Woodlands National Bank | 7(a) | 21 | $8.9M | 1.1% | 25 | -4 |
| 18 | Southeastern Minnesota 504 Development Corporation | 504 | 20 | $11.5M | 1.0% | 12 | +8 |
| 19 | Northeast Entrepreneur Fund, Inc. | 7(a) | 18 | $3.4M | 0.9% | 1 | +17 |
| 20 | Security State Bank of Aitkin | 7(a) | 18 | $1.0M | 0.9% | 13 | +5 |
| 21 | Minnwest Bank | 7(a) | 17 | $16.9M | 0.9% | 11 | +6 |
| 22 | Ultima Bank Minnesota | 7(a) | 17 | $4.6M | 0.9% | 26 | -9 |
| 23 | Associated Bank National Association | 7(a) | 17 | $2.0M | 0.9% | 16 | +1 |
| 24 | Falcon National Bank | 7(a) | 17 | $1.9M | 0.9% | 24 | -7 |
| 25 | Sentry Bank | 7(a) | 17 | $1.8M | 0.9% | 2 | +15 |
| 26 | Live Oak Banking Company | 7(a) | 16 | $16.6M | 0.8% | 14 | +2 |
| 27 | Central Minnesota Development Company | 504 | 16 | $9.5M | 0.8% | 17 | -1 |
| 28 | UMB Bank, National Association | 7(a) | 16 | $7.3M | 0.8% | 13 | +3 |
| 29 | Nicolet National Bank | 7(a) | 16 | $6.2M | 0.8% | 19 | -3 |
| 30 | Pioneer Bank | 7(a) | 16 | $5.0M | 0.8% | 14 | +2 |
| 31 | Security Bank USA | 7(a) | 16 | $4.7M | 0.8% | 19 | -3 |
| 32 | CRF Small Business Loan Company, LLC | 7(a) | 14 | $5.8M | 0.7% | 6 | +8 |
| 33 | Premier Bank Minnesota | 7(a) | 14 | $1.7M | 0.7% | 15 | -1 |
| 34 | Celtic Bank Corporation | 7(a) | 13 | $3.0M | 0.7% | 19 | -6 |
| 35 | BayFirst National Bank | 7(a) | 13 | $2.7M | 0.7% | 3 | +10 |
| 36 | Premier Bank | 7(a) | 13 | $2.1M | 0.7% | 8 | +5 |
| 37 | Lake Region Bank | 7(a) | 12 | $1.3M | 0.6% | 12 | 0 |
| 38 | MidCountry Bank | 7(a) | 11 | $10.1M | 0.6% | 9 | +2 |
| 39 | Merchants Bank, National Association | 7(a) | 11 | $3.9M | 0.6% | 12 | -1 |
| 40 | Scale Bank | 7(a) | 11 | $3.0M | 0.6% | 7 | +4 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2016 | Change |
|---|---|---|---|---|---|---|
| 1 | Hennepin County | 461 | $171M | 24.2% | 575 | -114 |
| 2 | Ramsey County | 195 | $62.0M | 10.2% | 180 | +15 |
| 3 | Dakota County | 147 | $61.6M | 7.7% | 119 | +28 |
| 4 | Anoka County | 127 | $48.4M | 6.7% | 115 | +12 |
| 5 | Stearns County | 79 | $28.2M | 4.1% | 75 | +4 |
| 6 | Washington County | 79 | $31.0M | 4.1% | 91 | -12 |
| 7 | Wright County | 56 | $15.2M | 2.9% | 58 | -2 |
| 8 | Carver County | 52 | $24.1M | 2.7% | 42 | +10 |
| 9 | Sherburne County | 50 | $20.8M | 2.6% | 29 | +21 |
| 10 | St. Louis County | 49 | $19.8M | 2.6% | 41 | +8 |
| 11 | Scott County | 48 | $21.8M | 2.5% | 66 | -18 |
| 12 | Blue Earth County | 34 | $9.3M | 1.8% | 31 | +3 |
| 13 | Crow Wing County | 30 | $10.5M | 1.6% | 39 | -9 |
| 14 | Kandiyohi County | 29 | $6.6M | 1.5% | 22 | +7 |
| 15 | Olmsted County | 28 | $12.7M | 1.5% | 35 | -7 |
| 16 | McLeod County | 21 | $5.8M | 1.1% | 14 | +7 |
| 17 | Pine County | 19 | $3.3M | 1.0% | 11 | +8 |
| 18 | Douglas County | 17 | $2.0M | 0.9% | 12 | +5 |
| 19 | Benton County | 17 | $1.1M | 0.9% | 25 | -8 |
| 20 | Clay County | 17 | $6.1M | 0.9% | 11 | +6 |
| 21 | Winona County | 16 | $13.8M | 0.8% | 15 | +1 |
| 22 | Polk County | 14 | $4.4M | 0.7% | 23 | -9 |
| 23 | Otter Tail County | 14 | $7.3M | 0.7% | 14 | 0 |
| 24 | Lyon County | 13 | $3.8M | 0.7% | 2 | +11 |
| 25 | Rice County | 13 | $5.7M | 0.7% | 25 | -12 |
| 26 | Beltrami County | 13 | $2.2M | 0.7% | 26 | -13 |
| 27 | Cass County | 12 | $4.9M | 0.6% | 9 | +3 |
| 28 | Meeker County | 11 | $2.2M | 0.6% | 7 | +4 |
| 29 | Chisago County | 11 | $3.3M | 0.6% | 18 | -7 |
| 30 | Aitkin County | 11 | $1.3M | 0.6% | 16 | -5 |
| 31 | Mille Lacs County | 10 | $2.1M | 0.5% | 9 | +1 |
| 32 | Steele County | 10 | $4.7M | 0.5% | 9 | +1 |
| 33 | Wabasha County | 10 | $2.5M | 0.5% | 2 | +8 |
| 34 | Becker County | 9 | $2.7M | 0.5% | 7 | +2 |
| 35 | Goodhue County | 9 | $8.0M | 0.5% | 8 | +1 |
| 36 | Faribault County | 9 | $1.4M | 0.5% | 1 | +8 |
| 37 | Kanabec County | 8 | $1.3M | 0.4% | 7 | +1 |
| 38 | Morrison County | 8 | $1.4M | 0.4% | 7 | +1 |
| 39 | Nicollet County | 8 | $1.5M | 0.4% | 12 | -4 |
| 40 | Isanti County | 8 | $1.3M | 0.4% | 11 | -3 |
The 40 counties with the most approvals; every county is on the Minnesota page.
FY2017 against FY2016
| Minnesota | FY2017 | FY2016 |
|---|---|---|
| 7(a) approvals | 1,632 | 1,674 |
| 7(a) dollars | $519M | $506M |
| Median 7(a) approval | $125K | $100K |
| 504 approvals | 276 | 275 |
| 504 dollars | $163M | $179M |
| Jobs supported, as reported | 20,056 | 22,496 |
Questions and answers
Which lenders made the most SBA loans in Minnesota in FY2017?
Wells Fargo Bank National Association (209), Old National Bank (143), U.S. Bank, National Association (135), Midwest Business Finance Corporation (118), Twin Cities-Metro Certified Development Company (73). 172 lenders had at least one approval.
How many SBA loans were approved in Minnesota in FY2017?
1,908: 1,632 under 7(a) worth $519M and 276 under 504 worth $163M.
Which Minnesota counties had the most SBA approvals in FY2017?
Hennepin County (461), Ramsey County (195), Dakota County (147), Anoka County (127), Stearns County (79).
When does FY2017 start and end?
The federal fiscal year 2017 runs from 1 October 2016 to 30 September 2017.
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