SBA 7(a) lenders in Aitkin, MN
Approvals in SBA fiscal years 2008–2026. Source data as of 2026-06-30.
Lenders
24 institutions have SBA 7(a) loans on record in Aitkin, together $26.7M across 101 loans. Security State Bank of Aitkin is the largest, with 16% of approvals.
| Rank | Lender | Loans | Approved | Share | Loss rate |
|---|---|---|---|---|---|
| 1 | Security State Bank of Aitkin | 49 | $4.3M | 16.1% | 3.61% |
| 2 | Old National Bank | 7 | $4.1M | 15.5% | 0.00% |
| 3 | 21st Century Bank | 5 | $3.5M | 13.2% | 0.00% |
| 4 | UMB Bank, National Association | 1 | $2.5M | 9.2% | 0.00% |
| 5 | Deerwood Bank | 3 | $1.9M | 7.0% | 0.00% |
| 6 | Live Oak Banking Company | 1 | $1.6M | 6.0% | 0.00% |
| 7 | Minnwest Bank | 1 | $1.5M | 5.5% | 0.00% |
| 8 | Wells Fargo Bank National Association | 1 | $1.3M | 4.8% | 0.00% |
| 9 | CRF Small Business Loan Company, LLC | 1 | $965K | 3.6% | 0.00% |
| 10 | Park State Bank | 3 | $860K | 3.2% | 0.00% |
| 11 | National Bank of Commerce | 2 | $804K | 3.0% | 0.00% |
| 12 | First Western SBLC, LLC | 1 | $630K | 2.4% | 0.00% |
| 13 | Members Cooperative Credit Union | 7 | $596K | 2.2% | 1.22% |
| 14 | Woodland Bank | 2 | $558K | 2.1% | 0.00% |
| 15 | Northeast Entrepreneur Fund, Inc. | 5 | $524K | 2.0% | 0.00% |
| 16 | Pine River State Bank | 1 | $344K | 1.3% | 0.00% |
| 17 | U.S. Bank, National Association | 2 | $249K | 0.9% | 0.00% |
| 18 | BankVista | 2 | $195K | 0.7% | 0.00% |
| 19 | Unity Bank | 1 | $125K | 0.5% | 0.00% |
| 20 | Bell Bank | 1 | $100K | 0.4% | 0.00% |
| 21 | Northeast Bank | 1 | $50K | 0.2% | 0.00% |
| 22 | First Western Bank & Trust | 2 | $40K | 0.1% | 0.00% |
| 23 | Capital One National Association | 1 | $25K | 0.1% | 0.00% |
| 24 | American National Bank of Minnesota | 1 | $24K | 0.1% | 0.00% |
Loss rates cover every approval year on record together. SBA 7(a) losses peak two to four years after approval, so a lender whose lending is mostly recent will show a low rate because its loans have not aged yet, not because they are performing better.
What the money went into
| Rank | Industry | Loans | Approved | Share of county |
|---|---|---|---|---|
| 1 | Manufacturing | 11 | $7.0M | 26.1% |
| 2 | Retail trade | 19 | $4.2M | 15.8% |
| 3 | Administrative & waste services | 9 | $3.6M | 13.6% |
| 4 | Agriculture, forestry & fishing | 5 | $2.9M | 11.0% |
| 5 | Accommodation & food services | 15 | $1.8M | 6.9% |
| 6 | Retail trade | 5 | $1.8M | 6.7% |
| 7 | Health care & social assistance | 2 | $1.7M | 6.5% |
| 8 | Real estate & leasing | 8 | $850K | 3.2% |
| 9 | Wholesale trade | 5 | $800K | 3.0% |
| 10 | Transportation & warehousing | 8 | $684K | 2.6% |
| 11 | Other services | 5 | $639K | 2.4% |
| 12 | Professional & technical services | 3 | $236K | 0.9% |
| 13 | Manufacturing | 1 | $125K | 0.5% |
| 14 | Arts, entertainment & recreation | 2 | $112K | 0.4% |
| 15 | Construction | 2 | $94K | 0.4% |
| 16 | Information | 1 | $50K | 0.2% |
Industry is the borrower’s NAICS sector as recorded by SBA at approval, grouped to the two-digit sector.
About this data
Built from the U.S. Small Business Administration’s 7(a) FOIA data release, a public record covering approvals from fiscal year 2008 onward and refreshed each quarter. SBA fiscal years end 30 September, so the most recent year is partial. Figures are approvals, not outstanding balances, and SBA attributes each loan to the institution that holds it today rather than the one that originated it — an acquisitive lender therefore shows books it did not write.