SBA 7(a) lenders in Polk, MN
Approvals in SBA fiscal years 2008–2026. Source data as of 2026-06-30.
Lenders
23 institutions have SBA 7(a) loans on record in Polk, together $77.1M across 265 loans. Ultima Bank Minnesota is the largest, with 35% of approvals.
| Rank | Lender | Loans | Approved | Share | Loss rate |
|---|---|---|---|---|---|
| 1 | Ultima Bank Minnesota | 134 | $27.1M | 35.1% | 3.11% |
| 2 | Old National Bank | 22 | $8.7M | 11.3% | 4.14% |
| 3 | Choice Financial Group | 6 | $5.9M | 7.6% | 0.00% |
| 4 | U.S. Bank, National Association | 11 | $5.6M | 7.2% | 0.00% |
| 5 | Bank Forward | 17 | $4.8M | 6.2% | 0.00% |
| 6 | Frandsen Bank and Trust | 16 | $4.3M | 5.5% | 3.99% |
| 7 | Wells Fargo Bank National Association | 5 | $3.8M | 4.9% | 0.00% |
| 8 | Border Bank | 3 | $3.4M | 4.4% | 0.00% |
| 9 | Red River State Bank | 23 | $3.1M | 4.0% | 0.00% |
| 10 | Readycap Lending, LLC | 3 | $2.6M | 3.3% | 0.00% |
| 11 | Stearns Bank National Association | 1 | $2.2M | 2.9% | 0.00% |
| 12 | First Community CU | 2 | $1.3M | 1.7% | 0.00% |
| 13 | First International Bank and Trust | 1 | $1.0M | 1.3% | 0.00% |
| 14 | Ameris Bank | 1 | $997K | 1.3% | 0.00% |
| 15 | American Federal Bank | 5 | $650K | 0.8% | 0.00% |
| 16 | Unity Bank | 4 | $538K | 0.7% | 0.00% |
| 17 | United Valley Bank | 3 | $450K | 0.6% | 0.00% |
| 18 | Northern State Bank of Thief River Falls | 2 | $324K | 0.4% | 0.00% |
| 19 | Northeast Bank | 1 | $300K | 0.4% | 0.00% |
| 20 | Bravera Bank | 1 | $100K | 0.1% | 0.00% |
| 21 | Newtek Bank, National Association | 1 | $85K | 0.1% | 0.00% |
| 22 | Security Bank USA | 1 | $65K | 0.1% | 0.00% |
| 23 | VelocitySBA, LLC | 2 | $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 | Manufacturing | 18 | $12.2M | 15.8% |
| 2 | Construction | 51 | $11.0M | 14.3% |
| 3 | Retail trade | 17 | $10.7M | 13.9% |
| 4 | Accommodation & food services | 28 | $9.3M | 12.1% |
| 5 | Agriculture, forestry & fishing | 31 | $6.5M | 8.4% |
| 6 | Transportation & warehousing | 15 | $5.8M | 7.5% |
| 7 | Wholesale trade | 13 | $5.1M | 6.6% |
| 8 | Health care & social assistance | 11 | $4.3M | 5.6% |
| 9 | Manufacturing | 11 | $1.7M | 2.3% |
| 10 | Utilities | 3 | $1.4M | 1.8% |
| 11 | Retail trade | 9 | $1.4M | 1.8% |
| 12 | Administrative & waste services | 17 | $1.4M | 1.8% |
| 13 | Finance & insurance | 5 | $1.3M | 1.6% |
| 14 | Professional & technical services | 8 | $1.2M | 1.5% |
| 15 | Mining & extraction | 4 | $1.1M | 1.4% |
| 16 | Other services | 10 | $999K | 1.3% |
| 17 | Manufacturing | 5 | $967K | 1.3% |
| 18 | Transportation & warehousing | 3 | $327K | 0.4% |
| 19 | Arts, entertainment & recreation | 4 | $240K | 0.3% |
| 20 | Information | 2 | $185K | 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.