FY20251 Oct 2024 – 30 Sep 2025
SBA loans in Minnesota, FY2025
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 FY2025 (1 October 2024 to 30 September 2025) SBA approved 1,822 loans in Minnesota: 1,584 under 7(a) and 238 under 504, worth $937M.
That is about level with FY2024, when there were 1,811 approvals worth $847M.
Minnesota accounted for 2.1% of the 84,840 approvals nationwide that year. 148 lenders had at least one approval in the state; U.S. Bank, National Association had the most, 257.
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 FY2025, of 148 active.
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2024 | Change |
|---|---|---|---|---|---|---|
| 1 | Hennepin County | 555 | $276M | 30.5% | 565 | -10 |
| 2 | Ramsey County | 198 | $86.1M | 10.9% | 192 | +6 |
| 3 | Anoka County | 147 | $87.4M | 8.1% | 125 | +22 |
| 4 | Dakota County | 138 | $83.0M | 7.6% | 148 | -10 |
| 5 | Washington County | 101 | $38.1M | 5.5% | 103 | -2 |
| 6 | Stearns County | 55 | $26.8M | 3.0% | 63 | -8 |
| 7 | Scott County | 50 | $28.3M | 2.7% | 67 | -17 |
| 8 | Wright County | 43 | $18.0M | 2.4% | 48 | -5 |
| 9 | St. Louis County | 43 | $25.5M | 2.4% | 39 | +4 |
| 10 | Carver County | 40 | $9.8M | 2.2% | 43 | -3 |
| 11 | Sherburne County | 38 | $18.4M | 2.1% | 38 | 0 |
| 12 | Olmsted County | 31 | $33.4M | 1.7% | 28 | +3 |
| 13 | Blue Earth County | 25 | $22.8M | 1.4% | 13 | +12 |
| 14 | McLeod County | 25 | $3.2M | 1.4% | 14 | +11 |
| 15 | Crow Wing County | 23 | $20.1M | 1.3% | 18 | +5 |
| 16 | Clay County | 16 | $6.9M | 0.9% | 15 | +1 |
| 17 | Benton County | 15 | $12.1M | 0.8% | 12 | +3 |
| 18 | Douglas County | 14 | $7.9M | 0.8% | 15 | -1 |
| 19 | Rice County | 14 | $5.5M | 0.8% | 19 | -5 |
| 20 | Beltrami County | 14 | $7.0M | 0.8% | 20 | -6 |
| 21 | Chisago County | 13 | $3.9M | 0.7% | 9 | +4 |
| 22 | Cass County | 12 | $3.8M | 0.7% | 6 | +6 |
| 23 | Isanti County | 12 | $4.5M | 0.7% | 8 | +4 |
| 24 | Goodhue County | 11 | $3.7M | 0.6% | 7 | +4 |
| 25 | Pine County | 10 | $4.0M | 0.5% | 5 | +5 |
| 26 | Becker County | 10 | $4.9M | 0.5% | 3 | +7 |
| 27 | Hubbard County | 10 | $1.8M | 0.5% | 9 | +1 |
| 28 | Kandiyohi County | 9 | $4.6M | 0.5% | 21 | -12 |
| 29 | Carlton County | 8 | $7.6M | 0.4% | 3 | +5 |
| 30 | Mille Lacs County | 8 | $4.0M | 0.4% | 6 | +2 |
| 31 | Nicollet County | 8 | $5.8M | 0.4% | 4 | +4 |
| 32 | Otter Tail County | 8 | $1.7M | 0.4% | 15 | -7 |
| 33 | Itasca County | 6 | $4.0M | 0.3% | 9 | -3 |
| 34 | Freeborn County | 6 | $2.9M | 0.3% | 1 | +5 |
| 35 | Dodge County | 6 | $1.3M | 0.3% | 2 | +4 |
| 36 | Lyon County | 5 | $3.6M | 0.3% | 2 | +3 |
| 37 | Lake County | 5 | $4.3M | 0.3% | 2 | +3 |
| 38 | Waseca County | 4 | $5.4M | 0.2% | 4 | 0 |
| 39 | Winona County | 4 | $846K | 0.2% | 7 | -3 |
| 40 | Kanabec County | 4 | $1.7M | 0.2% | 2 | +2 |
The 40 counties with the most approvals; every county is on the Minnesota page.
FY2025 against FY2024
| Minnesota | FY2025 | FY2024 |
|---|---|---|
| 7(a) approvals | 1,584 | 1,616 |
| 7(a) dollars | $687M | $687M |
| Median 7(a) approval | $150K | $150K |
| 504 approvals | 238 | 195 |
| 504 dollars | $250M | $160M |
| Jobs supported, as reported | 20,847 | 20,704 |
Questions and answers
Which lenders made the most SBA loans in Minnesota in FY2025?
U.S. Bank, National Association (257), The Huntington National Bank (168), Midwest Business Finance Corporation (85), Northeast Bank (85), Old National Bank (77). 148 lenders had at least one approval.
How many SBA loans were approved in Minnesota in FY2025?
1,822: 1,584 under 7(a) worth $687M and 238 under 504 worth $250M.
Which Minnesota counties had the most SBA approvals in FY2025?
Hennepin County (555), Ramsey County (198), Anoka County (147), Dakota County (138), Washington County (101).
When does FY2025 start and end?
The federal fiscal year 2025 runs from 1 October 2024 to 30 September 2025.
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