SBA 7(a) lenders in Nicollet, MN

Approvals in SBA fiscal years 2008–2026. Source data as of 2026-06-30.

Lenders

30 institutions have SBA 7(a) loans on record in Nicollet, together $43.7M across 131 loans. Old National Bank is the largest, with 21% of approvals.

Showing

Yearsto

Rank	Lender	Loans	Approved	Share	Loss rate
1	Old National Bank	5	$9.4M	21.5%	0.00%
2	BankVista	9	$7.3M	16.7%	0.00%
3	United Prairie Bank	10	$4.2M	9.7%	0.80%
4	Bank Midwest	2	$3.6M	8.2%	0.00%
5	Pioneer Bank	20	$2.2M	4.9%	5.05%
6	Frandsen Bank and Trust	2	$2.1M	4.8%	0.00%
7	ProGrowth Bank	13	$2.1M	4.8%	0.00%
8	Community Bank Mankato	16	$2.0M	4.6%	0.00%
9	Newtek Bank, National Association	2	$1.8M	4.1%	0.00%
10	Voyager Bank	5	$1.6M	3.7%	0.00%
11	Minnstar Bank National Association	13	$1.5M	3.5%	0.00%
12	First National Bank Minnesota	3	$909K	2.1%	0.00%
13	Readycap Lending, LLC	2	$611K	1.4%	0.00%
14	CCFBank National Association	3	$604K	1.4%	0.00%
15	Wells Fargo Bank National Association	3	$507K	1.2%	0.00%
16	Prime Security Bank	1	$483K	1.1%	0.00%
17	Profinium Inc	3	$475K	1.1%	10.69%
18	HomeTown Bank	3	$382K	0.9%	0.00%
19	Merchants Bank, National Association	1	$367K	0.8%	0.00%
20	Magnifi Financial CU	1	$350K	0.8%	0.00%
21	Arcadian Bank	1	$243K	0.6%	0.00%
22	Stearns Bank National Association	1	$150K	0.3%	0.00%
23	United Midwest Savings Bank National Association	1	$150K	0.3%	0.00%
24	First Independent Bank	1	$133K	0.3%	0.00%
25	Independence Bank	1	$125K	0.3%	0.00%
26	U.S. Bank, National Association	5	$100K	0.2%	0.00%
27	Colony Bank	1	$97K	0.2%	0.00%
28	Alliance Bank	1	$95K	0.2%	0.00%
29	Elysian Bank	1	$89K	0.2%	0.00%
30	Alerus Financial, National Association	1	$50K	0.1%	37.40%

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	Health care & social assistance	16	$7.7M	17.6%
2	Agriculture, forestry & fishing	8	$6.9M	15.8%
3	Other services	23	$6.7M	15.3%
4	Administrative & waste services	10	$5.1M	11.6%
5	Construction	14	$3.9M	8.9%
6	Retail trade	6	$3.0M	6.8%
7	Manufacturing	7	$2.1M	4.8%
8	Finance & insurance	2	$1.7M	3.9%
9	Manufacturing	8	$1.3M	3.1%
10	Retail trade	9	$1.3M	2.9%
11	Accommodation & food services	6	$1.1M	2.5%
12	Transportation & warehousing	6	$963K	2.2%
13	Arts, entertainment & recreation	6	$938K	2.1%
14	Manufacturing	2	$500K	1.1%
15	Professional & technical services	3	$173K	0.4%
16	Real estate & leasing	2	$154K	0.4%
17	Utilities	1	$150K	0.3%
18	Educational services	2	$116K	0.3%

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.