SBA lending by metro area
SBA lenders in Detroit Lakes, MN
Which lenders fund Detroit Lakes-area businesses, how much, and how the market compares with Minnesota: SBA 7(a) and 504 loans, FY2010–2026.
By Mario Bailey · SBA FOIA data as of 2026-03-31
Top SBA lenders in the Detroit Lakes area
Ranked by SBA volume funded to businesses located in the Detroit Lakes micropolitan area, wherever the lender is headquartered. National SBA lenders that fund here are included.
| # | Lender | Loans | Total funded | Average loan | 7(a) charge-off |
|---|---|---|---|---|---|
| 1 | Midwest Business Finance Corporation | 17 | $10.7M | $632K | not reported |
| 2 | Old National Bank | 17 | $3.9M | $231K | not reported |
| 3 | Midwest Bank | 22 | $3.8M | $171K | 0.00% |
| 4 | Deerwood Bank | 6 | $2.6M | $429K | not reported |
| 5 | Bell Bank | 6 | $1.2M | $203K | not reported |
| 6 | United Community Bank | 7 | $585K | $84K | not reported |
SBA 7(a) and 504 loans, FY2010–2026, as of 2026-03-31, from the SBA's public record.
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How Detroit Lakes compares
Median funded SBA loan and 504 share of loans, FY2010–2026.
| Median loan | 504 share | |
|---|---|---|
| Detroit Lakes area | $150K ▼ 7.3% | 17.1% ▲ 2.0 pts |
| Minnesota | $162K | 15.1% |
| United States | $179K | 11.2% |
What gets funded in Detroit Lakes
| Industry | Loans | Total funded |
|---|---|---|
| Retail Trade | 28 | $9.3M |
| Accommodation and Food Services | 27 | $9.2M |
| Manufacturing | 17 | $7.5M |
| Construction | 14 | $1.8M |
| Transportation and Warehousing | 7 | $1.7M |
| Professional and Technical Services | 6 | $1.6M |
| Agriculture, Forestry, Fishing | 5 | $1.4M |
| Administrative and Support | 7 | $992K |
SBA lending in Detroit Lakes by year
Geography, precisely
"Detroit Lakes area" here means the Detroit Lakes, MN micropolitan statistical area as delineated by OMB (July 2023), which is exactly these counties: Becker County, MN. Loans are placed by the SBA's recorded project county, which can differ from a borrower's mailing address. Counts are SBA 7(a) and 504 funded loans, FY2010–2026, as of 2026-03-31. See the methodology.