SBA lending by district
SBA lending in MN-07
SBA 7(a) and 504 financing in Minnesota's 7th district: how much was funded, by which lenders, and the 7(a) charge-off record.
By Mario Bailey · Source: SBA FOIA data, as of 2026-03-31
- SBA loans
- 3,522
- Total funded
- $1.2B
- Average loan
- $345K
- 7(a) charge-off
- 2.2%
Borrowers in Minnesota's 7th district took 3,522 SBA loans worth $1.2B since FY2010, averaging $345K. Of the 2,880 7(a) loans, 2.2% have charged off. See the rest of Minnesota.
SBA funded volume by fiscal year
Top SBA lenders in MN-07
- 1. Midwest Business Finance Corporation $262.2M
- 2. Old National Bank $105.0M
- 3. Ultima Bank Minnesota $59.9M
- 4. Red River State Bank $43.7M
- 5. Dakota Business Lending $33.6M
- 6. Wadena State Bank $31.8M
- 7. Security Bank USA $30.3M
- 8. Minnwest Bank $27.3M
- 9. Wells Fargo Bank National Association $26.4M
- 10. Magnifi Financial CU $24.1M
Method. SBA 7(a) and 504 loans the SBA recorded in MN-07,
FY2010–2026 (as of 2026-03-31). District boundaries
changed in the 2022 redistricting, so multi-year totals span boundary changes; the district is
as-recorded by the SBA. Charge-off is 7(a)-only. See the
methodology.