SBA lending by metro area
SBA lenders in New Ulm, MN
Which lenders fund New Ulm-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 New Ulm area
Ranked by SBA volume funded to businesses located in the New Ulm 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 | Bank Midwest | 7 | $4.2M | $593K | not reported |
| 2 | Southeastern Minnesota 504 Development Corporation | 7 | $4.0M | $575K | not reported |
| 3 | Midwest Business Finance Corporation | 11 | $3.4M | $306K | not reported |
| 4 | Farmers and Merchants State Bank of Springfield | 22 | $2.9M | $133K | 9.09% |
| 5 | BankVista | 5 | $1.3M | $258K | not reported |
| 6 | Frandsen Bank and Trust | 9 | $1.2M | $134K | not reported |
| 7 | United Prairie Bank | 15 | $1.1M | $74K | 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 New Ulm compares
Median funded SBA loan and 504 share of loans, FY2010–2026.
| Median loan | 504 share | |
|---|---|---|
| New Ulm area | $137K ▼ 15.3% | 20.6% ▲ 5.5 pts |
| Minnesota | $162K | 15.1% |
| United States | $179K | 11.2% |
What gets funded in New Ulm
| Industry | Loans | Total funded |
|---|---|---|
| Wholesale Trade | 10 | $7.0M |
| Transportation and Warehousing | 8 | $5.9M |
| Manufacturing | 9 | $4.4M |
| Agriculture, Forestry, Fishing | 9 | $3.0M |
| Accommodation and Food Services | 11 | $2.2M |
| Construction | 15 | $2.2M |
| Other Services | 9 | $1.2M |
| Retail Trade | 6 | $663K |
SBA lending in New Ulm by year
Geography, precisely
"New Ulm area" here means the New Ulm, MN micropolitan statistical area as delineated by OMB (July 2023), which is exactly these counties: Brown 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.