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
351
2010–2026
Total Volume
$86M
Gross loan amounts
States Active
5
With recorded loans
Programs
7(a) & 504
351 total segments
Ultima Bank Minnesota has a strong focus on existing businesses, with 82% of their deals supporting established companies. If you're an existing business owner, this lender may be a great fit for your needs.
With an average 7(a) spread of P+2.04%, Ultima Bank offers competitive pricing compared to the national median of P+2.75%. This could save you money on interest over the life of your loan.
Ultima Bank's growth trend shows a significant decline of 50% year-over-year in SBA deals, which may indicate a tightening of lending standards. This could make it more challenging for new borrowers to get approved.
Quarterly SBA lending activity, last 5 years.
Estimated spreads based on real historical SBA lending data. Directional, not exact quotes. Excludes 31 504 loans, which use fixed SBA debenture rates.
States where Ultima Bank Minnesota has recorded SBA lending activity.
Lending activity by industry cluster.
Top 8 of 15 industries by deal count
Agriculture & Forestry
Agriculture & Forestry
Manufacturing
Manufacturing
Restaurants & Food Service
Accommodation & Food Services
Specialty Trade Contractors
Construction
Transportation & Warehousing
Transportation & Warehousing
Food & Beverage Stores
Retail Trade
Hotels & Accommodation
Accommodation & Food Services
Heavy & Civil Engineering
Construction
+ 7 more
All recorded SBA lending activity for Ultima Bank Minnesota, grouped by state, industry, and deal size.
| Segment | Program | Deals↓ | Median Spread | Avg Size | Last Deal |
|---|---|---|---|---|---|
| Minnesota · Agriculture & Forestry · Under $150K | 7(a) | 51 | P+2.25% | $60K | Q2 2023 |
| Minnesota · Manufacturing · Under $150K | 7(a) | 24 | P+2.33% | $60K | Q1 2023 |
| Minnesota · Agriculture & Forestry · $150K – $350K | 7(a) | 21 | P+2.00% | $256K | Q3 2024 |
| Minnesota · Restaurants & Food Service · Under $150K | 7(a) | 19 | P+2.65% | $63K | Q3 2025 |
| Minnesota · Specialty Trade Contractors · Under $150K | 7(a) | 16 | P+2.50% | $47K | Q3 2020 |
| Minnesota · Transportation & Warehousing · Under $150K | 7(a) | 13 | P+2.90% | $58K | Q3 2021 |
| Minnesota · Heavy & Civil Engineering · Under $150K | 7(a) | 9 | P+2.75% | $76K | Q2 2018 |
| Minnesota · Food & Beverage Stores · Under $150K | 7(a) | 8 | P+2.25% | $43K | Q4 2023 |
| Minnesota · Wholesale Trade · Under $150K | 7(a) | 7 | P+2.25% | $80K | Q1 2024 |
| Minnesota · Retail Trade · Under $150K | 7(a) | 7 | P+2.75% | $68K | Q2 2020 |
| Minnesota · Auto Repair & Maintenance · Under $150K | 7(a) | 7 | P+2.00% | $47K | Q4 2024 |
| Minnesota · Agriculture & Forestry · $500K – $1M | 7(a) | 5 | P+2.00% | $770K | Q1 2024 |
| Minnesota · General Merchandise · Under $150K | 7(a) | 5 | P+3.00% | $39K | Q2 2020 |
| Minnesota · Social Assistance · Under $150K | 7(a) | 4 | P+2.38% | $59K | Q1 2023 |
| Minnesota · Other Health Practitioners · Under $150K | 7(a) | 4 | P+2.38% | $90K | Q4 2017 |
| Minnesota · Accounting & Tax · Under $150K | 7(a) | 4 | P+4.63% | $18K | Q2 2021 |
| Minnesota · Finance & Insurance · Under $150K | 7(a) | 4 | P+1.90% | $78K | Q3 2021 |
| Minnesota · Hotels & Accommodation · Under $150K | 7(a) | 4 | P+2.25% | $70K | Q4 2018 |
| Minnesota · Gas Stations · Under $150K | 7(a) | 4 | P+2.38% | $49K | Q3 2021 |
| Minnesota · Food & Beverage Stores · $150K – $350K | 7(a) | 4 | P+2.13% | $273K | Q4 2023 |
| Minnesota · Nursing & Residential Care · $500K – $1M | 504 | 4 | — | $705K | Q4 2021 |
| Minnesota · Manufacturing · $150K – $350K | 7(a) | 3 | P+2.75% | $256K | Q1 2015 |
| Minnesota · Heavy & Civil Engineering · $150K – $350K | 7(a) | 3 | P+2.25% | $275K | Q2 2016 |
| Minnesota · Arts, Entertainment & Recreation · Under $150K | 7(a) | 3 | P+1.90% | $96K | Q4 2022 |
| Minnesota · Restaurants & Food Service · $150K – $350K | 7(a) | 3 | P+2.75% | $300K | Q2 2022 |
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Real experiences from borrowers who closed SBA loans with Ultima Bank Minnesota.
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