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Minnesota · Utilities
SBA loans for utilities in Minnesota
32 loans worth $13.7M approved since FY2010 for utilities projects located in Minnesota.
Loans
32
Approved
$13.7M
Median loan
$164,500
+3% vs sector nationally
Median rate
6.00%
Jobs supported
221
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 utilities in Minnesota
| Lender | Loans | Approved | Share |
|---|---|---|---|
| Amplio Economic Development Corporation | 1 | $4.4M | |
| Coulee Bank | 4 | $3.4M | |
| Ultima Bank Minnesota | 3 | $1.4M | |
| Citizens Bank & Trust Co | 2 | $980K | |
| Frandsen Bank and Trust | 1 | $729K | |
| Highland Bank | 1 | $500K | |
| UMB Bank | 1 | $300K | |
| First Resource Bank | 1 | $300K |
Detail
Which industries inside the sector
| Industry | Loans | Share |
|---|---|---|
| Water Supply and Irrigation Systems | 18 | |
| Other Electric Power Generation | 5 | |
| Natural Gas Distribution | 3 | |
| Solar Electric Power Generation | 3 | |
| Wind Electric Power Generation | 2 | |
| Sewage Treatment Facilities | 1 |
An SBA 7(a) lender for loans this size
The median SBA loan approved for utilities in Minnesota since FY2010 was $164,500. 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.
Utilities nationally
1,100 loans across all states.
How SBA 7(a) works
Eligibility, caps, fees, and the timeline.
Common questions
- How many SBA loans go to utilities businesses in Minnesota?
- 32 SBA loans totalling $13,704,800 have been approved for utilities projects in Minnesota since FY2010.
- Which lenders finance utilities in Minnesota?
- The most active by dollars approved are Amplio Economic Development Corporation, Coulee Bank, Ultima Bank Minnesota, Citizens Bank & Trust Co. Several are national lenders with no local branch - SBA lending crosses state lines freely.
- What is a typical loan size for utilities in Minnesota?
- The median approval is $164,500.
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