SBA 7(a) lenders in Koochiching, MN
Approvals in SBA fiscal years 2008–2025. Source data as of 2026-06-30.
Lenders
15 institutions have SBA 7(a) loans on record in Koochiching, together $14.7M across 59 loans. Border Bank is the largest, with 35% of approvals.
| Rank | Lender | Loans | Approved | Share | Loss rate |
|---|---|---|---|---|---|
| 1 | Border Bank | 19 | $5.1M | 34.8% | 1.93% |
| 2 | Old National Bank | 4 | $2.6M | 17.8% | 0.00% |
| 3 | Platinum Bank | 2 | $1.9M | 13.2% | 0.00% |
| 4 | Stearns Bank National Association | 1 | $1.2M | 8.2% | 0.00% |
| 5 | Northeast Entrepreneur Fund, Inc. | 9 | $908K | 6.2% | 0.00% |
| 6 | Ultima Bank Minnesota | 9 | $737K | 5.0% | 0.00% |
| 7 | Alerus Financial, National Association | 1 | $706K | 4.8% | 0.00% |
| 8 | Security Bank USA | 3 | $478K | 3.3% | 19.95% |
| 9 | First State Bank of Bigfork | 2 | $368K | 2.5% | 0.00% |
| 10 | Park State Bank | 1 | $245K | 1.7% | 0.00% |
| 11 | Wells Fargo Bank National Association | 3 | $227K | 1.5% | 15.48% |
| 12 | BankVista | 2 | $100K | 0.7% | 0.00% |
| 13 | Deerwood Bank | 1 | $25K | 0.2% | 0.00% |
| 14 | U.S. Bank, National Association | 1 | $10K | 0.1% | 0.00% |
| 15 | American Heritage National Bank | 1 | $5K | 0.0% | 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 | Accommodation & food services | 16 | $3.7M | 25.3% |
| 2 | Retail trade | 8 | $2.9M | 19.9% |
| 3 | Wholesale trade | 2 | $2.5M | 16.9% |
| 4 | Retail trade | 3 | $2.0M | 13.3% |
| 5 | Real estate & leasing | 3 | $969K | 6.6% |
| 6 | Health care & social assistance | 1 | $706K | 4.8% |
| 7 | Other services | 7 | $606K | 4.1% |
| 8 | Manufacturing | 4 | $395K | 2.7% |
| 9 | Manufacturing | 3 | $300K | 2.0% |
| 10 | Arts, entertainment & recreation | 3 | $232K | 1.6% |
| 11 | Construction | 1 | $135K | 0.9% |
| 12 | Transportation & warehousing | 1 | $78K | 0.5% |
| 13 | Administrative & waste services | 2 | $75K | 0.5% |
| 14 | Agriculture, forestry & fishing | 3 | $68K | 0.5% |
| 15 | Professional & technical services | 2 | $61K | 0.4% |
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.