SBA 7(a) lenders in Otter Tail, MN

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

Lenders

47 institutions have SBA 7(a) loans on record in Otter Tail, together $80.5M across 276 loans. My Kind of Bank National Association is the largest, with 12% of approvals.

Showing

Yearsto

Rank	Lender	Loans	Approved	Share	Loss rate
1	My Kind of Bank National Association	67	$10.0M	12.4%	0.64%
2	Old National Bank	21	$7.5M	9.3%	0.00%
3	United Community Bank	51	$7.4M	9.2%	0.00%
4	Red River State Bank	5	$5.5M	6.8%	0.00%
5	Bell Bank	7	$5.2M	6.5%	0.00%
6	American Federal Bank	15	$4.5M	5.6%	0.00%
7	Falcon National Bank	1	$4.3M	5.3%	0.00%
8	Wadena State Bank	15	$3.8M	4.7%	2.55%
9	US Metro Bank	1	$3.6M	4.5%	0.00%
10	Live Oak Banking Company	6	$3.4M	4.2%	0.00%
11	Magnifi Financial CU	12	$3.4M	4.2%	0.00%
12	Minnwest Bank	1	$2.9M	3.6%	0.00%
13	Wells Fargo Bank National Association	12	$2.6M	3.2%	12.35%
14	Heritage Bank, National Association	2	$2.3M	2.8%	0.00%
15	Deerwood Bank	1	$2.0M	2.5%	67.17%
16	Farmers State Bank of Underwood	3	$1.4M	1.8%	0.00%
17	Farmers and Merchants State Bank of New York Mills Incorporated	7	$1.4M	1.7%	0.00%
18	Choice Financial Group	1	$1.2M	1.5%	0.00%
19	T Bank, National Association	1	$1.1M	1.3%	93.41%
20	First Bank	1	$1.0M	1.3%	0.00%
21	Viking Bank National Association	5	$812K	1.0%	0.00%
22	Unity Bank	1	$754K	0.9%	0.00%
23	Ultima Bank Minnesota	1	$720K	0.9%	0.00%
24	BMO Bank National Association	1	$423K	0.5%	0.00%
25	Mid Minnesota Federal Credit Union	3	$359K	0.4%	0.00%
26	Midwest Bank	2	$351K	0.4%	0.00%
27	Aspire Bank	1	$350K	0.4%	0.00%
28	BayFirst National Bank	2	$300K	0.4%	0.00%
29	Highland Bank	2	$206K	0.3%	0.00%
30	Northeast Bank	2	$197K	0.2%	17.43%
31	Celtic Bank Corporation	2	$196K	0.2%	0.00%
32	Star Bank	1	$184K	0.2%	0.00%
33	U.S. Bank, National Association	7	$150K	0.2%	18.91%
34	Bravera Bank	2	$150K	0.2%	0.00%
35	United Midwest Savings Bank National Association	1	$150K	0.2%	0.00%
36	American Heritage National Bank	1	$145K	0.2%	0.00%
37	First International Bank and Trust	2	$142K	0.2%	0.00%
38	Northwestern Bank, National Association	1	$125K	0.2%	0.00%
39	Stearns Bank National Association	1	$106K	0.1%	48.65%
40	Dakota Business Lending	1	$106K	0.1%	74.65%
41	Prime Security Bank	1	$104K	0.1%	0.00%
42	Bank Forward	1	$80K	0.1%	0.00%
43	Newtek Bank, National Association	1	$75K	0.1%	0.00%
44	Readycap Lending, LLC	1	$50K	0.1%	0.00%
45	21st Century Bank	1	$32K	0.0%	0.00%
46	BankVista	1	$25K	0.0%	0.00%
47	Vantage Bank	1	$20K	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	52	$15.3M	19.0%
2	Agriculture, forestry & fishing	12	$13.8M	17.2%
3	Retail trade	45	$13.0M	16.1%
4	Retail trade	26	$8.4M	10.4%
5	Construction	33	$7.1M	8.9%
6	Manufacturing	14	$4.2M	5.2%
7	Health care & social assistance	17	$4.2M	5.2%
8	Other services	23	$3.0M	3.8%
9	Manufacturing	6	$2.6M	3.2%
10	Transportation & warehousing	11	$2.1M	2.6%
11	Professional & technical services	11	$1.8M	2.2%
12	Administrative & waste services	11	$1.7M	2.1%
13	Finance & insurance	4	$1.3M	1.6%
14	Wholesale trade	2	$1.2M	1.5%
15	Arts, entertainment & recreation	5	$419K	0.5%
16	Transportation & warehousing	2	$256K	0.3%
17	Real estate & leasing	1	$132K	0.2%
18	Manufacturing	1	$125K	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.