Best Minneapolis, MN SBA Lenders & Rates of 2026

Compare 47 SBA lenders in Minneapolis, MN. $118.2M funded across 255 businesses. Average rate 9.57%. Get matched free.

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Best Minneapolis, MN SBA Lenders & Rates of 2026

$118.2M
Total Funded

255
Loans Approved

$464K
Avg Loan Size

9.57%
Avg Interest Rate

47
Active Lenders

SBA Loans in Minneapolis, MN

Minneapolis, MN businesses received $118.2M in SBA 7(a) loan approvals across 255 businesses in 2025. With 47 active SBA lenders competing for business in Minneapolis, understanding which banks offer the best rates can save you tens of thousands of dollars.

💡 Key Insight: The average SBA loan in Minneapolis is $464K, with rates averaging 9.57%. Rates vary significantly by lender—comparing offers can save you $50,000+ over the life of your loan.

Minneapolis SBA Loans by Business Type

🚀 Startups
35%
$28.5M • 90 loans

🏢 Existing Businesses
54%
$55.3M • 137 loans

🔄 Acquisitions
11%
$34.4M • 27 loans

Top SBA Lenders in Minneapolis, MN (2025)

Based on official SBA data analyzed by GoSBA Loans, these are the banks that funded the most SBA 7(a) loans to Minneapolis businesses:

RankLenderVolumeLoansAvg Rate
1 U.S. Bank, National Association$17.2M6310.11%
2 First Resource Bank$13.5M108.47%
3 American National Bank$7.7M48.18%
4 The Huntington National Bank$6.6M459.68%
5 Alerus Financial, National Association$5.7M58.80%
6 Northeast Bank$5.1M199.65%
7 First Bank of the Lake$4.7M39.50%
8 First Bank & Trust$4.5M69.68%
9 Highland Bank$4.5M28.38%
10 Bridgewater Bank$4.3M28.38%
11 Minnwest Bank$4.1M39.17%
12 Old National Bank$3.8M68.63%
13 Tradition Capital Bank$3.7M29.50%
14 Sunrise Banks National Association$3.5M109.93%
15 Hiawatha National Bank$3.3M48.13%
16 Frandsen Bank and Trust$2.9M39.67%
17 BankCherokee$2.9M58.60%
18 21st Century Bank$2.8M98.73%
19 BankVista$2.4M29.00%
20 Shoreham Bank$1.8M19.50%
21 Bank of America, National Association$1.5M36.55%
22 Security Bank & Trust Company$1.2M27.94%
23 1st Financial Bank USA$1.0M110.75%
24 Farmers and Merchants Savings Bank$973K38.42%
25 Bell Bank$888K39.42%
26 Platinum Bank$888K110.50%
27 Live Oak Banking Company$850K29.50%
28 Newtek Bank, National Association$630K511.90%
29 VelocitySBA, LLC$609K110.25%
30 CRF Small Business Loan Company, LLC$555K110.25%
31 Granite Bank$548K17.25%
32 Choice Financial Group$533K28.10%
33 Gateway Bank$500K18.50%
34 Stearns Bank National Association$470K210.25%
35 African Development Center$350K17.25%
36 BayFirst National Bank$338K312.25%
37 Community Resource Bank$325K27.88%
38 Readycap Lending, LLC$200K110.25%
39 CenTrust Bank, A Division of SmartBiz Bank National Associat$195K110.00%
40 Scale Bank$161K28.50%
41 Affinity Plus FCU$160K18.50%
42 MY CU$110K39.83%
43 Citizens State Bank$75K19.00%
44 Stone Bank$75K110.50%
45 Wells Fargo Bank National Association$70K412.63%
46 First Western Bank & Trust$65K28.25%
47 Premier Bank Minnesota$15K110.25%

Top Industries in Minneapolis

Here are the industries that received the most SBA funding in Minneapolis:

SBA Loans in Minnesota

Minneapolis is part of Minnesota‘s SBA lending market. For statewide data and more lender options, see our full Minnesota SBA Lenders guide.

🤝 Why Use an SBA Broker in Minneapolis?

GoSBA Loans helps Minneapolis businesses access the best SBA lenders:

  • Access 47+ lenders — including many that don’t accept direct applications
  • Local market expertise — we know which lenders are most active in Minneapolis
  • Rate comparison — get competing offers to secure the best terms
  • Free service — lenders pay us, you pay nothing extra

📞 Get Expert Help with Your Minneapolis SBA Loan

Our team has helped hundreds of Minneapolis businesses secure SBA financing. Let us match you with the right lender.

Looking for SBA loan help in Minneapolis? GoSBA Loans is a trusted SBA loan broker serving businesses in Minneapolis and across Minnesota. Contact our Minneapolis SBA specialists today for a free consultation.

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Ishan Jetley

Ishan Jetley is the owner of GoSBA Loans. I have assisted 100's of businesses with their business loans. I specialize in SBA financing for working capital, real estate and business acquisitions.
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