SBA 7(a) lenders in Pope, MN
Approvals in SBA fiscal years 2008–2025. Source data as of 2026-06-30.
Lenders
19 institutions have SBA 7(a) loans on record in Pope, together $8.7M across 37 loans. Choice Financial Group is the largest, with 26% of approvals.
| Rank | Lender | Loans | Approved | Share | Loss rate |
|---|---|---|---|---|---|
| 1 | Choice Financial Group | 2 | $2.3M | 26.4% | 0.00% |
| 2 | Glenwood State Bank Incorporated | 7 | $1.3M | 14.4% | 3.97% |
| 3 | Newtek Small Business Finance, Inc. | 1 | $915K | 10.5% | 0.00% |
| 4 | Magnifi Financial CU | 4 | $670K | 7.7% | 0.00% |
| 5 | Wells Fargo Bank National Association | 2 | $668K | 7.7% | 0.00% |
| 6 | Byline Bank | 1 | $500K | 5.7% | 0.00% |
| 7 | Dacotah Bank | 5 | $443K | 5.1% | 0.00% |
| 8 | Lowry State Bank | 1 | $442K | 5.1% | 0.00% |
| 9 | Security Bank Minnesota | 1 | $300K | 3.4% | 0.00% |
| 10 | Farmers and Merchants State Bank of New York Mills Incorporated | 1 | $270K | 3.1% | 0.00% |
| 11 | Citizens Bank & Trust Co | 2 | $240K | 2.8% | 0.00% |
| 12 | Viking Bank National Association | 2 | $215K | 2.5% | 0.00% |
| 13 | First Western Bank & Trust | 2 | $173K | 2.0% | 0.00% |
| 14 | Bonanza Valley State Bank | 1 | $140K | 1.6% | 0.00% |
| 15 | MY CU | 1 | $50K | 0.6% | 0.00% |
| 16 | Old National Bank | 1 | $48K | 0.6% | 0.00% |
| 17 | My Kind of Bank National Association | 1 | $39K | 0.4% | 0.00% |
| 18 | American National Bank of Minnesota | 1 | $35K | 0.4% | 0.00% |
| 19 | Bravera Bank | 1 | $20K | 0.2% | 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 | Mining & extraction | 3 | $3.2M | 36.9% |
| 2 | Accommodation & food services | 10 | $1.6M | 17.9% |
| 3 | Construction | 4 | $702K | 8.0% |
| 4 | Educational services | 1 | $663K | 7.6% |
| 5 | Agriculture, forestry & fishing | 3 | $570K | 6.5% |
| 6 | Wholesale trade | 1 | $500K | 5.7% |
| 7 | Manufacturing | 2 | $400K | 4.6% |
| 8 | Administrative & waste services | 4 | $293K | 3.4% |
| 9 | Retail trade | 1 | $270K | 3.1% |
| 10 | Manufacturing | 2 | $240K | 2.8% |
| 11 | Professional & technical services | 2 | $170K | 1.9% |
| 12 | Arts, entertainment & recreation | 1 | $60K | 0.7% |
| 13 | Information | 1 | $39K | 0.4% |
| 14 | Other services | 1 | $35K | 0.4% |
| 15 | Retail trade | 1 | $5K | 0.1% |
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.