SBA Lenders in Minnesota
Top lenders ranked by real SBA lending data. See who's most active in Minnesota across deal count, loan size, and pricing.
What Borrowers Should Know
Minnesota borrowers are getting better pricing than the national average. The median spread here is P+2.06%, compared to the national median of P+2.75%—that's 0.69% cheaper. With an average deal size of $309,606, this savings adds up to roughly $2,100 per loan in interest costs over a typical 10-year term. This competitive pricing likely reflects strong lender competition: 332 active lenders are fighting for deals in a $1.15B market.
U.S. Bank dominates Minnesota's SBA lending with 637 deals—nearly 17% of all state volume. This concentration matters for you: one lender controls a significant share of deal flow, which can reduce competition and pricing pressure in some market segments. However, it also signals deep expertise in Minnesota's small business landscape. If U.S. Bank declines you, you have 331 other options to explore, suggesting a healthy backup market.
Minnesota's average deal size of $309,606 is moderate, indicating the state supports a mix of small startups and established growing businesses. At 3,716 total deals with $1.15B in volume, this suggests lenders are actively funding businesses across different stages. If your loan request fits this range—roughly $150K to $600K—you're in the mainstream of what Minnesota lenders are comfortable funding, which typically means faster decisions and fewer underwriting roadblocks.
Total SBA Loans
3,716
Active Lenders
253
Avg Deal Size
$310K
Total Volume
$1.2B
Top 10 Lenders in Minnesota
Ranked by total deal count across all SBA programs.
| # | Lender | Type | Deals | Avg Size | Spread | |
|---|---|---|---|---|---|---|
| 1 | U.S. Bank, National Association | Bank | 640 | $64K | P + 1.55%GOOD | |
| 2 | Wells Fargo Bank National Association | Bank | 249 | $182K | P + 2.49%AVERAGE | |
| 3 | Old National Bank | Bank | 205 | $474K | P + 1.75%GOOD | |
| 4 | The Huntington National Bank | Bank | 112 | $182K | P + 2.00%GOOD | |
| 5 | Minnesota Business Finance Cor | CDC/504 | 104 | $495K | — | |
| 6 | 21st Century Bank | Bank | 104 | $325K | P + 2.00%GOOD | |
| 7 | BankVista | Bank | 104 | $467K | P + 2.00%GOOD | |
| 8 | Twin Cities-Metro Certified De | CDC/504 | 97 | $536K | — | |
| 9 | Choice Financial Group | Bank | 77 | $594K | P + 2.00%GOOD | |
| 10 | Bravera Bank | Bank | 70 | $228K | P + 1.50%COMPETITIVE |
Top Industries in Minnesota
SBA lending activity by industry segment.