SBA lending by metro area
SBA lenders in Fergus Falls, MN
Which lenders fund Fergus Falls-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 Fergus Falls area
Ranked by SBA volume funded to businesses located in the Fergus Falls 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 | 44 | $23.1M | $526K | not reported |
| 2 | My Kind of Bank National Association | 59 | $8.7M | $147K | 1.69% |
| 3 | Dakota Business Lending | 9 | $6.5M | $723K | not reported |
| 4 | Old National Bank | 19 | $6.5M | $341K | not reported |
| 5 | United Community Bank | 42 | $5.8M | $138K | 0.00% |
| 6 | Red River State Bank | 5 | $5.5M | $1.1M | not reported |
| 7 | Bell Bank | 7 | $5.2M | $746K | not reported |
| 8 | Wadena State Bank | 15 | $3.8M | $252K | not reported |
| 9 | Magnifi Financial CU | 12 | $3.4M | $280K | not reported |
| 10 | Live Oak Banking Company | 5 | $2.9M | $584K | 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 Fergus Falls compares
Median funded SBA loan and 504 share of loans, FY2010–2026.
| Median loan | 504 share | |
|---|---|---|
| Fergus Falls area | $175K ▲ 7.9% | 20.8% ▲ 5.7 pts |
| Minnesota | $162K | 15.1% |
| United States | $179K | 11.2% |
What gets funded in Fergus Falls
| Industry | Loans | Total funded |
|---|---|---|
| Accommodation and Food Services | 68 | $23.5M |
| Retail Trade | 71 | $20.4M |
| Manufacturing | 23 | $16.6M |
| Agriculture, Forestry, Fishing | 14 | $15.8M |
| Health Care and Social Assistance | 23 | $9.1M |
| Construction | 29 | $6.2M |
| Other Services | 23 | $4.1M |
| Professional and Technical Services | 14 | $2.7M |
SBA lending in Fergus Falls by year
Geography, precisely
"Fergus Falls area" here means the Fergus Falls, MN micropolitan statistical area as delineated by OMB (July 2023), which is exactly these counties: Otter Tail 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.