SBA lending by metro area
SBA lenders in Mankato, MN
Which lenders fund Mankato-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 Mankato area
Ranked by SBA volume funded to businesses located in the Mankato metropolitan 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 | 54 | $39.1M | $724K | not reported |
| 2 | Old National Bank | 30 | $26.7M | $890K | 10.00% |
| 3 | Southeastern Minnesota 504 Development Corporation | 35 | $26.2M | $748K | not reported |
| 4 | BankVista | 45 | $17.7M | $393K | 2.22% |
| 5 | Community Bank Mankato | 81 | $11.9M | $147K | 0.00% |
| 6 | Minnstar Bank National Association | 102 | $11.5M | $112K | 1.96% |
| 7 | Pioneer Bank | 66 | $9.0M | $137K | 9.09% |
| 8 | United Prairie Bank | 19 | $7.0M | $369K | not reported |
| 9 | The Huntington National Bank | 13 | $4.4M | $342K | not reported |
| 10 | Frandsen Bank and Trust | 10 | $3.6M | $356K | 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 Mankato compares
Median funded SBA loan and 504 share of loans, FY2010–2026.
| Median loan | 504 share | |
|---|---|---|
| Mankato area | $135K ▼ 16.5% | 16.8% ▲ 1.8 pts |
| Minnesota | $162K | 15.1% |
| United States | $179K | 11.2% |
What gets funded in Mankato
| Industry | Loans | Total funded |
|---|---|---|
| Health Care and Social Assistance | 66 | $34.8M |
| Manufacturing | 59 | $25.2M |
| Accommodation and Food Services | 77 | $24.3M |
| Construction | 94 | $21.9M |
| Transportation and Warehousing | 37 | $21.2M |
| Retail Trade | 71 | $18.9M |
| Agriculture, Forestry, Fishing | 12 | $12.7M |
| Other Services | 60 | $12.0M |
SBA lending in Mankato by year
Geography, precisely
"Mankato area" here means the Mankato, MN metropolitan statistical area as delineated by OMB (July 2023), which is exactly these counties: Blue Earth County, MN; Nicollet 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.