Minnesota · Mining & Energy
SBA loans for mining & energy in Minnesota
52 loans worth $37.8M approved since FY2010 for mining, quarrying, and oil and gas extraction projects located in Minnesota.
Loans
52
Approved
$37.8M
Median loan
$350,000
+54% vs sector nationally
Median rate
6.00%
Jobs supported
567
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 mining & energy in Minnesota
| Lender | Loans | Approved | Share |
|---|---|---|---|
| Old National Bank | 5 | $6.2M | |
| Newtek Small Business Finance, Inc. | 2 | $5.9M | |
| Minnwest Bank | 2 | $3.5M | |
| Merchants Bank of Indiana | 4 | $2.9M | |
| Profinium Inc | 3 | $2.4M | |
| Choice Financial Group | 2 | $2.3M | |
| Midwest Business Finance Corporation | 2 | $2.2M | |
| Northeast Bank | 1 | $2.2M |
Detail
Which industries inside the sector
All SBA lending in Minnesota
30,570 loans across every sector.
Mining & Energy nationally
2,367 loans across all states.
How SBA 7(a) works
Eligibility, caps, fees, and the timeline.
Common questions
- How many SBA loans go to mining & energy businesses in Minnesota?
- 52 SBA loans totalling $37,817,400 have been approved for mining, quarrying, and oil and gas extraction projects in Minnesota since FY2010.
- Which lenders finance mining & energy in Minnesota?
- The most active by dollars approved are Old National Bank, Newtek Small Business Finance, Inc., Minnwest Bank, Merchants Bank of Indiana. Several are national lenders with no local branch - SBA lending crosses state lines freely.
- What is a typical loan size for mining & energy in Minnesota?
- The median approval is $350,000, 54% above the national median for this sector ($227,300).
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