SBA Loan Lending in Minnesota Up Nearly 4%

SBA Loan Lending in Minnesota Up Nearly 4%

February 27, 2018

Small Business Lending Increased Over Last Year (SBA.gov)

Minneapolis – SBA loan guarantees in Minnesota have grown by 3.9 percent in the fiscal year 2018. So far this year, nearly $208 million in SBA loans have been approved, versus $200 million for the same time period (October 1 to January 31) in FY2017.

“We are fortunate to have a strong community of banks and credit unions in Minnesota who know first-hand the value SBA programs offer to their clients,” said Nancy J. Libersky, Minnesota SBA District Director. “It wonderful to see the work they do benefit the broader community as our economy grows.”

The top five lenders by dollar value are:

1. Twin-Cities Metro Certified Development Company
2. Minnesota Business Finance Corporation
3. Wells Fargo Bank
4. Platinum Bank
5. BankVista

The top five lenders by number of loans guaranteed are:

1. Wells Fargo Bank
2. U.S. Bank
3. Minnesota Business Finance Corporation
4. 21st Century Bank
5. Sunrise Banks

Minnesota is currently in ranked 12th in the nation for number of loans guaranteed and 20th for dollars lent from 68 SBA district offices.

Reprint: SBA.gov
Release Date: Thursday, February 8, 2018
Release Number:18.05.MN