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Minnesota · Restaurants & Hotels
SBA loans for restaurants & hotels in Minnesota
3,567 loans worth $1.57B approved since FY2010 for accommodation and food services projects located in Minnesota.
Loans
3,567
Approved
$1.57B
Median loan
$245,000
-18% vs sector nationally
Median rate
6.00%
Jobs supported
67,596
Source: U.S. Small Business Administration, SBA 7(a) and 504 FOIA data, as of 2026-06-30. Approvals from FY2010 onward. How we calculate this.
Lenders
Who lends to restaurants & hotels in Minnesota
| Lender | Loans | Approved | Share |
|---|---|---|---|
| Midwest Business Finance Corporation | 449 | $298.5M | |
| Twin Cities-Metro Certified Development Company | 135 | $128.3M | |
| Amplio Economic Development Corporation | 112 | $82.9M | |
| Old National Bank | 148 | $60.8M | |
| Sunrise Banks | 211 | $59.1M | |
| BankVista | 147 | $53.7M | |
| Choice Financial Group | 76 | $39.8M | |
| Southeastern Minnesota 504 Development Corporation | 61 | $39.6M |
Detail
Which industries inside the sector
An SBA 7(a) lender for loans this size
The median SBA loan approved for restaurants & hotels in Minnesota since FY2010 was $245,000. SmartBiz makes SBA 7(a) loans up to $500,000. It is shown here as a separate, labelled option, outside the data rankings on this page. You apply on their site - we do not take applications and never see your information.
Check options with SmartBizWe may be paid if you apply through this link. It does not change what we publish, and no lender can buy a place in our rankings. Details.
All SBA lending in Minnesota
30,570 loans across every sector.
Restaurants & Hotels nationally
137,471 loans across all states.
How SBA 7(a) works
Eligibility, caps, fees, and the timeline.
Common questions
- How many SBA loans go to restaurants & hotels businesses in Minnesota?
- 3,567 SBA loans totalling $1,570,384,900 have been approved for accommodation and food services projects in Minnesota since FY2010.
- Which lenders finance restaurants & hotels in Minnesota?
- The most active by dollars approved are Midwest Business Finance Corporation, Twin Cities-Metro Certified Development Company, Amplio Economic Development Corporation, Old National Bank. Several are national lenders with no local branch - SBA lending crosses state lines freely.
- What is a typical loan size for restaurants & hotels in Minnesota?
- The median approval is $245,000, 18% below the national median for this sector ($300,000).
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