SBA lending by metro area
SBA lenders in Owatonna, MN
Which lenders fund Owatonna-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 Owatonna area
Ranked by SBA volume funded to businesses located in the Owatonna 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 | Old National Bank | 19 | $6.7M | $354K | not reported |
| 2 | Southeastern Minnesota 504 Development Corporation | 7 | $5.7M | $819K | not reported |
| 3 | U.S. Bank, National Association | 19 | $2.9M | $154K | not reported |
| 4 | United Prairie Bank | 20 | $2.9M | $146K | 0.00% |
| 5 | Wells Fargo Bank National Association | 18 | $2.7M | $148K | not reported |
| 6 | Amplio Economic Development Corporation | 5 | $2.6M | $526K | not reported |
| 7 | Manufacturers Bank & Trust Company | 19 | $2.0M | $106K | not reported |
| 8 | Midwest Business Finance Corporation | 6 | $1.9M | $324K | not reported |
| 9 | Community Bank Owatonna | 27 | $1.8M | $68K | 3.70% |
| 10 | Frandsen Bank and Trust | 5 | $1.7M | $335K | 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 Owatonna compares
Median funded SBA loan and 504 share of loans, FY2010–2026.
| Median loan | 504 share | |
|---|---|---|
| Owatonna area | $100K ▼ 38.2% | 9.9% ▼ 5.1 pts |
| Minnesota | $162K | 15.1% |
| United States | $179K | 11.2% |
What gets funded in Owatonna
| Industry | Loans | Total funded |
|---|---|---|
| Retail Trade | 24 | $6.0M |
| Health Care and Social Assistance | 16 | $5.3M |
| Accommodation and Food Services | 12 | $5.2M |
| Other Services | 26 | $4.7M |
| Wholesale Trade | 8 | $4.5M |
| Construction | 22 | $3.6M |
| Manufacturing | 16 | $3.4M |
| Administrative and Support | 14 | $3.2M |
SBA lending in Owatonna by year
Geography, precisely
"Owatonna area" here means the Owatonna, MN micropolitan statistical area as delineated by OMB (July 2023), which is exactly these counties: Steele 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.