SBA lending by metro area
SBA lenders in Rochester, MN
Which lenders fund Rochester-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 Rochester area
Ranked by SBA volume funded to businesses located in the Rochester 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 | Southeastern Minnesota 504 Development Corporation | 93 | $60.8M | $654K | not reported |
| 2 | Alerus Financial, National Association | 45 | $32.4M | $721K | 2.22% |
| 3 | Wells Fargo Bank National Association | 71 | $22.6M | $318K | 7.04% |
| 4 | Old National Bank | 40 | $20.5M | $511K | 2.50% |
| 5 | Minnwest Bank | 21 | $15.8M | $750K | 14.29% |
| 6 | Eagle Rock Bank | 21 | $11.0M | $526K | 4.76% |
| 7 | Twin Cities-Metro Certified Development Company | 14 | $8.2M | $586K | not reported |
| 8 | Merchants Bank, National Association | 22 | $6.0M | $272K | 0.00% |
| 9 | Midwest Business Finance Corporation | 13 | $4.9M | $378K | not reported |
| 10 | Platinum Bank | 6 | $4.2M | $695K | 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 Rochester compares
Median funded SBA loan and 504 share of loans, FY2010–2026.
| Median loan | 504 share | |
|---|---|---|
| Rochester area | $212K ▲ 30.8% | 21.6% ▲ 6.5 pts |
| Minnesota | $162K | 15.1% |
| United States | $179K | 11.2% |
What gets funded in Rochester
| Industry | Loans | Total funded |
|---|---|---|
| Accommodation and Food Services | 75 | $37.7M |
| Construction | 72 | $29.8M |
| Retail Trade | 77 | $28.8M |
| Manufacturing | 47 | $27.8M |
| Health Care and Social Assistance | 63 | $24.7M |
| Arts, Entertainment, Recreation | 26 | $24.4M |
| Other Services | 81 | $23.5M |
| Wholesale Trade | 25 | $16.4M |
SBA lending in Rochester by year
Geography, precisely
"Rochester area" here means the Rochester, MN metropolitan statistical area as delineated by OMB (July 2023), which is exactly these counties: Dodge County, MN; Fillmore County, MN; Olmsted County, MN; Wabasha 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.