Minnesota · Finance & Insurance
SBA loans for finance & insurance in Minnesota
558 loans worth $210.9M approved since FY2010 for finance and insurance projects located in Minnesota.
Loans
558
Approved
$210.9M
Median loan
$150,000
-25% vs sector nationally
Median rate
6.00%
Jobs supported
3,030
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 finance & insurance in Minnesota
| Lender | Loans | Approved | Share |
|---|---|---|---|
| Live Oak Banking Company | 42 | $41.0M | |
| Choice Financial Group | 18 | $15.8M | |
| Old National Bank | 26 | $13.6M | |
| Wells Fargo Bank | 26 | $11.6M | |
| U.S. Bank | 77 | $10.4M | |
| Twin Cities-Metro Certified Development Company | 21 | $9.2M | |
| Stearns Bank | 14 | $7.5M | |
| Byline Bank | 9 | $6.3M |
Detail
Which industries inside the sector
All SBA lending in Minnesota
30,570 loans across every sector.
Finance & Insurance nationally
18,357 loans across all states.
How SBA 7(a) works
Eligibility, caps, fees, and the timeline.
Common questions
- How many SBA loans go to finance & insurance businesses in Minnesota?
- 558 SBA loans totalling $210,938,700 have been approved for finance and insurance projects in Minnesota since FY2010.
- Which lenders finance finance & insurance in Minnesota?
- The most active by dollars approved are Live Oak Banking Company, Choice Financial Group, Old National Bank, Wells Fargo Bank. Several are national lenders with no local branch - SBA lending crosses state lines freely.
- What is a typical loan size for finance & insurance in Minnesota?
- The median approval is $150,000, 25% below the national median for this sector ($200,000).
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