STRONG
How competitive are their spreads? Lower = better for you.
GOOD
Total SBA loans closed. More deals = more experience.
GOOD
How many industries do they lend in? More = flexible.
WEAK
States where they've done deals. Wider = easier if you're out of state.
Total SBA Loans
405
2010–2026
Total Volume
$168M
Gross loan amounts
States Active
6
With recorded loans
Programs
7(a) & 504
405 total segments
Merchants Bank has a strong focus on 504 loans, making up 31% of their total SBA deals, which is significantly higher than the national average of 18%. This indicates they are well-suited for borrowers looking to finance real estate or large equipment purchases.
With an average 7(a) spread of P+1.90%, Merchants Bank offers competitive pricing compared to the national median of P+2.75%. This could lead to lower overall borrowing costs for your SBA loan.
The lender's growth trend shows a decline of 29% year-over-year in SBA deals. This may indicate a tightening of lending criteria, making it potentially more challenging for new borrowers to secure loans.
Quarterly SBA lending activity, last 5 years.
Estimated spreads based on real historical SBA lending data. Directional, not exact quotes. Excludes 127 504 loans, which use fixed SBA debenture rates.
States where Merchants Bank, National Association has recorded SBA lending activity.
+ 1 more state
Lending activity by industry cluster.
Top 8 of 15 industries by deal count
Restaurants & Food Service
Accommodation & Food Services
Manufacturing
Manufacturing
Specialty Trade Contractors
Construction
Other Health Practitioners
Health Care & Social Assistance
Real Estate
Real Estate
Auto Repair & Maintenance
Other Services
Arts, Entertainment & Recreation
Arts, Entertainment & Recreation
Administrative & Waste Services
Administrative & Waste Services
+ 7 more
All recorded SBA lending activity for Merchants Bank, National Association, grouped by state, industry, and deal size.
| Segment | Program | Deals↓ | Median Spread | Avg Size | Last Deal |
|---|---|---|---|---|---|
| Minnesota · Specialty Trade Contractors · Under $150K | 7(a) | 16 | P+2.00% | $71K | Q1 2025 |
| Minnesota · Restaurants & Food Service · Under $150K | 7(a) | 11 | P+1.75% | $92K | Q1 2023 |
| Minnesota · Manufacturing · Under $150K | 7(a) | 11 | P+2.25% | $114K | Q1 2017 |
| Minnesota · Restaurants & Food Service · $150K – $350K | 7(a) | 10 | P+2.00% | $296K | Q3 2022 |
| Minnesota · Specialty Trade Contractors · $150K – $350K | 7(a) | 7 | P+1.25% | $258K | Q1 2025 |
| Minnesota · Manufacturing · $150K – $350K | 504 | 6 | — | $243K | Q1 2023 |
| Minnesota · Other Health Practitioners · Under $150K | 7(a) | 6 | P+2.50% | $70K | Q2 2019 |
| Minnesota · Other Professional Services · Under $150K | 7(a) | 6 | P+2.13% | $82K | Q1 2016 |
| Wisconsin · Restaurants & Food Service · Under $150K | 7(a) | 5 | P+0.50% | $80K | Q3 2024 |
| Minnesota · Other Health Practitioners · $150K – $350K | 7(a) | 5 | P+1.50% | $208K | Q2 2025 |
| Minnesota · Administrative & Waste Services · Under $150K | 7(a) | 5 | P+2.50% | $55K | Q2 2016 |
| Minnesota · Manufacturing · $150K – $350K | 7(a) | 4 | P+1.63% | $247K | Q2 2017 |
| Minnesota · Personal Care (Salons, Spas) · Under $150K | 7(a) | 4 | P+2.50% | $50K | Q4 2015 |
| Minnesota · Auto Repair & Maintenance · $150K – $350K | 504 | 4 | — | $213K | Q4 2022 |
| Minnesota · Real Estate · Under $150K | 7(a) | 4 | P+2.75% | $34K | Q1 2013 |
| Minnesota · Restaurants & Food Service · $500K – $1M | 7(a) | 4 | P+2.75% | $712K | Q3 2024 |
| Wisconsin · Manufacturing · $500K – $1M | 504 | 4 | — | $697K | Q2 2019 |
| Minnesota · Other Health Practitioners · $150K – $350K | 504 | 4 | — | $240K | Q2 2021 |
| Minnesota · Restaurants & Food Service · Under $150K | 504 | 4 | — | $127K | Q4 2019 |
| Minnesota · Specialty Trade Contractors · $1M – $2M | 7(a) | 4 | P+1.13% | $1.4M | Q4 2019 |
| Minnesota · Sporting Goods & Hobby · Under $150K | 7(a) | 4 | P+2.50% | $44K | Q4 2014 |
| Wisconsin · Administrative & Waste Services · Under $150K | 7(a) | 3 | P+2.50% | $35K | Q2 2017 |
| Minnesota · Sporting Goods & Hobby · $150K – $350K | 7(a) | 3 | P+1.25% | $223K | Q2 2019 |
| Minnesota · Restaurants & Food Service · $500K – $1M | 504 | 3 | — | $752K | Q3 2021 |
| Minnesota · Finance & Insurance · Under $150K | 7(a) | 3 | P+2.25% | $62K | Q4 2014 |
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