How many SBA lenders are in Minnesota?

There are 37 SBA-approved lenders headquartered in Minnesota, plus 10 more lenders headquartered out-of-state that actively fund Minnesota borrowers. Minnesota HQ lenders have collectively originated $7.3B in SBA loan volume.

Can an out-of-state SBA lender fund my Minnesota business?

Yes. SBA loans are not state-restricted. PeerSense tracks 10 out-of-state SBA lenders with active Minnesota loan portfolios. National banks, multi-state regionals, and SBA preferred lenders frequently outperform local-only banks on rate, term, and speed-to-close.

How do I find an SBA lender in Minnesota for my business?

Tell PeerSense about your deal at peersense.com/book-a-call. We'll reach out after the file is on the desk to discuss the Minnesota lender (HQ or out-of-state) most likely to fund your industry, loan size, and structure. Free consultation. Referral fee paid by the lender at closing.

SBA Lenders in Minnesota

Q: Who are the top SBA lenders in Minnesota?

Ranked by Minnesota-specific SBA volume, the top lenders include Stearns Bank National Association, BankVista, CRF Small Business Loan Company, LLC. PeerSense ranks each by activity, average loan size, and Minnesota deal-flow specialization.

37 SBA-approved lenders headquartered in Minnesota (MN) plus 10 more that actively fund Minnesota borrowers. Tell us about your deal and we'll match you with the right capital source.

Quick Answer

Who are the top SBA lenders in Minnesota?

PeerSense tracks 37 SBA-approved lenders headquartered in Minnesota (MN), plus 10 out-of-state lenders that actively fund Minnesota borrowers. Top by Minnesota-specific volume: Stearns Bank National Association, BankVista, CRF Small Business Loan Company, LLC. Minnesota HQ lenders have collectively originated $7.3B in SBA volume.

, PeerSense Capital Advisory · Westfield IN · Updated October 1, 2026

MN HQ Lenders

Out-of-State Funders

$7.3B

Total SBA Volume

Free

Initial Consultation

Top SBA Lenders Headquartered in Minnesota

Ranked by total SBA loan activity. Click any bank for the full profile, NAICS specialization, and franchise lending history.

Lender	State	Activity	Profile
Stearns Bank National Association	MN	High Volume	View Profile →
Sunrise Banks National Association	MN	High Volume	View Profile →
BankVista	MN	High Volume	View Profile →
Highland Bank	MN	High Volume	View Profile →
Frandsen Bank and Trust	MN	Active	View Profile →
CRF Small Business Loan Company, LLC	MN	Active	View Profile →
21st Century Bank	MN	Active	View Profile →
Minnwest Bank	MN	Active	View Profile →
Falcon National Bank	MN	Active	View Profile →
Platinum Bank	MN	Active	View Profile →
Merchants Bank, National Association	MN	Active	View Profile →
Park State Bank	MN	Active	View Profile →
Magnifi Financial CU	MN	Active	View Profile →
Woodlands National Bank	MN	Active	View Profile →
Premier Bank	MN	Active	View Profile →
Granite Bank	MN	Active	View Profile →
Security Bank USA	MN	Active	View Profile →
First Resource Bank	MN	Active	View Profile →
Scale Bank	MN	Active	View Profile →
Deerwood Bank	MN	Active	View Profile →

Out-of-State Lenders Actively Funding Minnesota Borrowers

National banks and multi-state regionals frequently fund Minnesota deals at competitive rates, often with faster underwriting than local-only banks. Ranked by Minnesota-specific SBA volume.

Old National Bank

HQ IN · 319 MN loans · $122.2M MN volume

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Choice Financial Group

HQ ND · 76 MN loans · $35.7M MN volume

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Alerus Financial, National Association

HQ ND · 37 MN loans · $28.9M MN volume

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BMO Bank National Association

HQ IL · 67 MN loans · $15.1M MN volume

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Associated Bank, National Association

HQ WI · 89 MN loans · $14.7M MN volume

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Bell Bank

HQ ND · 19 MN loans · $12.2M MN volume

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American National Bank

HQ NE · 31 MN loans · $10.8M MN volume

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Northeast Bank

HQ ME · 22 MN loans · $9.5M MN volume

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MidWestOne Bank

HQ IA · 31 MN loans · $8.4M MN volume

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Coulee Bank

HQ WI · 15 MN loans · $7.8M MN volume

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Looking for an SBA Lender in Minnesota?

PeerSense matches your deal with the right capital source from our network of 37+ Minnesota lenders and hundreds more nationwide. Referral fee established upfront and paid at closing.

Talk to PeerSense Contact Us

SBA Lending in Minnesota

Minnesota is home to 37 SBA-approved lenders that have collectively originated $7.3B in SBA loan volume. These lenders serve businesses across the state through the SBA 7(a) and 504 loan programs, providing financing for acquisitions, commercial real estate, equipment, and working capital.

Whether you're acquiring a business in Minnesota, expanding an existing operation, or purchasing commercial property, SBA financing offers competitive terms with government-backed guarantees. PeerSense analyzes each lender's activity, deal preferences, and specializations to help you find the best fit.

How PeerSense Helps Minnesota Borrowers

We're a commercial lending advisory firm headquartered in Westfield, Indiana. We structure and place deals across SBA, CMBS, private credit, equipment financing, and more. Our team reviews your transaction, identifies the right capital sources, and makes warm introductions to lenders actively funding deals like yours. Most clients hear back from a PeerSense advisor after the file is on the desk.

Talk to PeerSense about SBA capital in Minnesota.

Tell us your loan amount and use of funds. PeerSense sources capital for a Minnesota deal, local or national.

SBA 7(a) / 504: The desk will reach out. No obligation.

How big is your deal?

Where are you in the deal?

Equity or down payment ready

Credit score

Timeline to close

SBA already on the books?

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Referral fee realized at closing · Or call (317) 452-6990

Other Capital Programs for Minnesota Borrowers

PeerSense covers the full commercial capital stack for Minnesota operators, beyond SBA. Compare current rates and structures.

Originator warehouse

$100M a month

Focus $100 million a month. Will look at $10 million a month. $10 million is not the focus.

See current rates

Invoice Factoring

0.5–3.5% / 30d

B2B invoices from $20 million a month. Advance 80 to 95 percent of face.

See current rates

CMBS Conduit

5.60–7.10%

10 year Non Recourse fixed, $10 million and up, fully assumable

See current rates

Bridge Loans

9.00–14.00%

$10 million and up. Cash in about 35 percent. Name the takeout first.

See current rates

Data Center

CRS to 89%

$1 billion to $30 billion plus. Signed or guaranteed hyperscaler lease.

See current rates

Contracted revenue sale

Up to 89%

15 year lease signed or guaranteed by a hyperscaler. Size follows the lease.

See current rates

Hotel Financing

Hotel is search only. Public floor $10 million and up. Cash in about 35 percent.

See current rates

Private Credit

7.80–18.00%

Non-bank flexibility. Public CRE floor $10 million and up.

See current rates

DSCR Investor

Search path. Public CRE floor $10 million and up.

See current rates

Indicative only, as of September 1, 2026. Not a quote, commitment or offer of credit. Final pricing, leverage and terms are determined by the lender at underwriting, after full transaction materials are reviewed. PeerSense sources the file. The lender sets pricing. What these terms mean.

SBA Lenders in Other States

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia

SBA Lenders in Minnesota

Who are the top SBA lenders in Minnesota?

Top SBA Lenders Headquartered in Minnesota

Stearns Bank National Association

Sunrise Banks National Association

BankVista

Highland Bank

Frandsen Bank and Trust

CRF Small Business Loan Company, LLC

21st Century Bank

Minnwest Bank

Falcon National Bank

Platinum Bank

Merchants Bank, National Association

Park State Bank

Magnifi Financial CU

Woodlands National Bank

Premier Bank

Granite Bank

Security Bank USA

First Resource Bank

Scale Bank

Deerwood Bank

Out-of-State Lenders Actively Funding Minnesota Borrowers

Old National Bank

Choice Financial Group

Alerus Financial, National Association

BMO Bank National Association

Associated Bank, National Association

Bell Bank

American National Bank

Northeast Bank

MidWestOne Bank

Coulee Bank

Looking for an SBA Lender in Minnesota?

SBA Lending in Minnesota

How PeerSense Helps Minnesota Borrowers

Talk to PeerSense about SBA capital in Minnesota.

Other Capital Programs for Minnesota Borrowers

Originator warehouse

Invoice Factoring

CMBS Conduit

Bridge Loans

Data Center

Contracted revenue sale

Hotel Financing

Private Credit

DSCR Investor

Explore More PeerSense Resources

SBA 7(a) & 504 Programs

Full Lender Directory

Best SBA Lenders 2026

SBA by Industry

SBA Lenders in Other States