SBA Lenders in Minnesota
152 active SBA lenders · 7,052 loans approved · $3.2B total volume
All SBA Lenders in Minnesota
Finding an SBA Lender in Minnesota
There are currently 152 SBA-approved lenders headquartered in Minnesota, ranging from national banks to local community lenders. Together they have approved 7,052 SBA 7(a) loans totaling $3.2B since 2020.
Of these, 33 are SBA Preferred Lenders — meaning they have delegated authority to approve SBA loans without prior SBA review, resulting in faster processing and funding.
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SBA Lender Questions for Minnesota
How many SBA lenders are in Minnesota?
There are currently 152 SBA-approved lenders headquartered in Minnesota. Together they have approved 7,052 SBA 7(a) loans totaling $3.2B since 2020. Of these, 33 hold SBA Preferred Lender status, allowing them to approve loans without prior SBA review.
What is an SBA Preferred Lender in Minnesota?
An SBA Preferred Lender (PLP) in Minnesota is a bank or financial institution that has earned delegated authority from the SBA to approve loans independently — without waiting for SBA review. This results in faster approvals (often 7–10 business days vs. 4–6 weeks) and a more streamlined process. Minnesota currently has 33 Preferred Lenders.
How do I choose the best SBA lender in Minnesota?
When choosing an SBA lender in Minnesota, consider three factors: (1) Preferred Lender status — these lenders close loans faster; (2) loan volume — lenders with higher approval counts have more SBA experience; (3) average loan size — find a lender whose typical deal size matches your needs. Our directory shows real SBA loan data for all 152 Minnesota lenders so you can compare objectively.
How long does SBA loan approval take in Minnesota?
With an SBA Preferred Lender in Minnesota, approval typically takes 7–10 business days. Non-preferred lenders require SBA review, adding 2–4 weeks. After approval, funding usually takes an additional 2–4 weeks, so total time from application to funding is typically 30–90 days depending on the lender and loan complexity.