Best SBA Lenders in Minneapolis, MN – 2025 Rankings & Small Business Insights
SBA Lending in Minneapolis: Market Overview
Minneapolis continues to be a powerhouse for SBA lending in the Midwest, driven by steady growth in manufacturing, healthcare, construction, and logistics. From FY2020 through June 2025, lenders approved 1,048 SBA 7(a) loans totaling $921 million, according to SBA FOIA data.
Both national banks and Minnesota-based lenders maintain an active SBA presence—financing business acquisitions, expansions, and working capital loans. The city’s entrepreneurial community remains one of the strongest in the Upper Midwest, with SBA-backed loans playing a key role in fueling local business growth.
Data Source: SBA FOIA 7(a) Loan Data (FY2020–June 2025)
Top SBA Lenders in Minneapolis (Ranked)
| Rank | Lender Name | Loan Count | Total Volume | Avg. Loan Size |
|---|---|---|---|---|
| 1 | The Huntington National Bank | 84 | $31.08M | $370K |
| 2 | BayFirst National Bank | 78 | $17.61M | $226K |
| 3 | Live Oak Banking Company | 73 | $81.92M | $1.12M |
| 4 | Wells Fargo Bank, N.A. | 68 | $28.64M | $421K |
| 5 | JPMorgan Chase Bank, N.A. | 63 | $27.59M | $438K |
| 6 | U.S. Bank National Association | 58 | $25.27M | $435K |
| 7 | Readycap Lending, LLC | 52 | $31.19M | $600K |
| 8 | Minnwest Bank | 46 | $33.27M | $723K |
Huntington and BayFirst lead Minneapolis in SBA loan count, while Live Oak dominates in total dollar volume—specializing in healthcare, professional services, and franchise acquisitions. Minnwest Bank and U.S. Bank maintain strong local visibility with tailored financing for owner-operators and expansion-stage borrowers.
Why Work with GoSBA Loans
The SBA lending process can vary widely across banks. GoSBA Loans makes it easier for business owners to navigate lender criteria, improve approval odds, and access multiple offers through one streamlined process.
Why Choose GoSBA Loans:
- Direct access to the most active SBA lenders nationwide and locally.
- Pre-underwriting and SBA-compliant loan packaging for faster decisions.
- Comparison of rates, structures, and terms to maximize borrower outcomes.
- Zero cost to borrowers: our fees are paid by the lender after closing.
Result: Smoother underwriting, faster closings, and higher approval success rates for Minnesota small businesses.
SBA Loan Insights by Industry – Minneapolis
| Industry | Loan Count | Total Volume | Notes |
|---|---|---|---|
| Construction & Specialty Trades | 76 | $49.17M | Strongest sector for SBA lending citywide |
| Manufacturing & Fabrication | 62 | $53.45M | High lender interest in industrial borrowers |
| Healthcare Practices | 57 | $41.88M | Dental, medical, and wellness offices expanding |
| Full-Service Restaurants | 55 | $38.76M | Continued strength in dining and hospitality |
| Limited-Service Restaurants | 43 | $19.67M | Franchise operators gaining SBA traction |
| Professional Services | 36 | $29.52M | Legal, consulting, and accounting firms active |
| Logistics & Delivery Services | 28 | $21.49M | Driven by regional trade and e-commerce growth |
SBA loan demand in Minneapolis is led by construction, healthcare, and manufacturing, reflecting the city’s robust small business ecosystem. Lenders favor experienced operators with strong cash flow and documented profitability.
Work with the #1 SBA Brokerage for Minnesota Businesses
Whether you’re purchasing a business, expanding, or refinancing, GoSBA Loans connects Minnesota entrepreneurs directly to the lenders most likely to approve their SBA loan—efficiently and at no cost.
- Get a free assessment: https://gosbaloans.com/contact-us/
- See SBA resources: https://gosbaloans.com/blog/
- Follow us on LinkedIn: https://www.linkedin.com/company/go-sba-loans/
Looking for the best SBA lenders in Minneapolis? Contact GoSBA Loans today for a free consultation. Our experts will analyze your deal, identify lender matches, and manage the SBA loan process—from prequalification to closing—at no cost to you.
Angelo Alix
Angelo Alix is an SBA loan broker and business analyst specializing in business acquisitions, market research, and investor-grade planning. With expertise in financial modeling, SBA lending structures, and capital stack optimization, he helps entrepreneurs and business owners secure funding by delivering clear, data-driven financial narratives and strategic growth plans.