SBA 7(a) lenders in Sherburne, MN

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

Lenders

84 institutions have SBA 7(a) loans on record in Sherburne, together $188.1M across 565 loans. The Bank of Elk River is the largest, with 13% of approvals.

Showing

Yearsto

Rank	Lender	Loans	Approved	Share	Loss rate
1	The Bank of Elk River	54	$24.3M	12.9%	1.92%
2	Old National Bank	31	$14.5M	7.7%	1.02%
3	Village Bank	10	$13.1M	7.0%	0.00%
4	BankVista	25	$9.7M	5.1%	9.09%
5	U.S. Bank, National Association	65	$9.6M	5.1%	0.76%
6	Wells Fargo Bank National Association	42	$7.8M	4.2%	13.51%
7	Sherburne State Bank	23	$7.3M	3.9%	0.97%
8	Falcon National Bank	31	$7.0M	3.7%	0.71%
9	Byline Bank	5	$6.8M	3.6%	0.00%
10	Nicolet National Bank	9	$6.5M	3.4%	0.00%
11	Highland Bank	6	$5.3M	2.8%	0.00%
12	Choice Financial Group	6	$4.7M	2.5%	0.00%
13	21st Century Bank	17	$4.0M	2.1%	5.77%
14	Bank Five Nine	1	$3.7M	1.9%	0.00%
15	Granite Bank	11	$3.4M	1.8%	0.00%
16	Live Oak Banking Company	2	$3.4M	1.8%	0.00%
17	Woodlands National Bank	14	$3.4M	1.8%	0.00%
18	Stearns Bank National Association	14	$3.1M	1.7%	1.22%
19	Frandsen Bank and Trust	9	$3.0M	1.6%	0.00%
20	Bravera Bank	23	$2.9M	1.5%	0.00%
21	Drake Bank	4	$2.6M	1.4%	0.00%
22	Minnesota Lakes Bank	2	$2.5M	1.3%	0.00%
23	Pioneer Bank	10	$2.5M	1.3%	0.00%
24	National Bank of Commerce	6	$2.2M	1.2%	0.00%
25	Newtek Bank, National Association	3	$2.2M	1.2%	0.00%
26	BMO Bank National Association	5	$2.1M	1.1%	0.76%
27	Sentry Bank	9	$1.9M	1.0%	0.00%
28	The Huntington National Bank	22	$1.9M	1.0%	0.00%
29	First Bank & Trust	4	$1.8M	1.0%	0.00%
30	Security Bank & Trust Company	1	$1.7M	0.9%	0.00%
31	Genesis Bank	1	$1.7M	0.9%	0.00%
32	Alerus Financial, National Association	3	$1.7M	0.9%	0.00%
33	Minnwest Bank	4	$1.6M	0.8%	0.00%
34	Popular Bank	1	$1.3M	0.7%	92.93%
35	Bell Bank	3	$1.1M	0.6%	4.34%
36	The Bank of Houston	1	$945K	0.5%	0.00%
37	VisionBank	3	$866K	0.5%	0.00%
38	PNC Bank, National Association	1	$800K	0.4%	0.00%
39	Scale Bank	2	$800K	0.4%	0.00%
40	BayFirst National Bank	5	$683K	0.4%	0.00%
41	Capital Bank, National Association	1	$636K	0.3%	0.00%
42	Five Star Bank	2	$570K	0.3%	0.00%
43	Readycap Lending, LLC	3	$546K	0.3%	0.00%
44	Unity Bank	1	$500K	0.3%	0.00%
45	Neighborhood National Bank	2	$495K	0.3%	0.00%
46	22nd State Bank, A Division of 22nd State Banking Company	1	$450K	0.2%	0.00%
47	Kensington Bank	3	$450K	0.2%	0.00%
48	CorTrust Bank National Association	6	$443K	0.2%	12.43%
49	Northeast Bank	3	$438K	0.2%	0.00%
50	Alliance Bank	1	$435K	0.2%	0.00%
51	Merchants Bank, National Association	2	$430K	0.2%	0.00%
52	American National Bank of Minnesota	1	$419K	0.2%	0.00%
53	Hiawatha National Bank	2	$403K	0.2%	0.00%
54	First Bank Elk River	4	$400K	0.2%	0.00%
55	Wadena State Bank	1	$350K	0.2%	0.00%
56	Seacoast National Bank	1	$350K	0.2%	90.71%
57	Deerwood Bank	1	$309K	0.2%	0.00%
58	The First National Bank of Milaca	4	$291K	0.2%	0.00%
59	Border Bank	1	$291K	0.2%	0.00%
60	Pine River State Bank	3	$288K	0.2%	0.00%
61	Northeast Bank	2	$285K	0.2%	0.00%
62	Harvest Bank	1	$250K	0.1%	0.00%
63	Initiative Foundation	1	$250K	0.1%	0.00%
64	United Midwest Savings Bank National Association	2	$250K	0.1%	0.00%
65	First Resource Bank	2	$245K	0.1%	42.89%
66	Republic Bank & Trust Company	1	$243K	0.1%	59.34%
67	The Citizens National Bank of Park Rapids	1	$200K	0.1%	0.00%
68	Independence Bank	1	$150K	0.1%	0.00%
69	Profinium Inc	1	$150K	0.1%	0.00%
70	Magnifi Financial CU	1	$150K	0.1%	0.00%
71	MY CU	1	$150K	0.1%	0.00%
72	First Bank	1	$150K	0.1%	0.00%
73	RiverWood Bank	4	$140K	0.1%	0.00%
74	Security Bank Minnesota	2	$130K	0.1%	0.00%
75	Glenwood State Bank Incorporated	1	$125K	0.1%	0.00%
76	Newtek Small Business Finance, Inc.	1	$120K	0.1%	0.00%
77	CenTrust Bank, A Division of SmartBiz Bank National Association	1	$100K	0.1%	0.00%
78	Wings Credit Union	1	$90K	0.0%	0.00%
79	American Heritage National Bank	3	$83K	0.0%	0.00%
80	Celtic Bank Corporation	1	$71K	0.0%	0.00%
81	Randolph-Brooks FCU	1	$40K	0.0%	0.00%
82	Capital One National Association	1	$35K	0.0%	0.00%
83	Associated Bank National Association	1	$20K	0.0%	0.00%
84	VelocitySBA, LLC	2	$13K	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	Construction	118	$40.3M	21.4%
2	Manufacturing	63	$35.9M	19.1%
3	Accommodation & food services	39	$15.8M	8.4%
4	Professional & technical services	46	$12.9M	6.9%
5	Transportation & warehousing	31	$12.9M	6.9%
6	Retail trade	31	$12.2M	6.5%
7	Health care & social assistance	38	$10.9M	5.8%
8	Other services	42	$7.8M	4.2%
9	Manufacturing	19	$7.2M	3.8%
10	Wholesale trade	21	$7.1M	3.8%
11	Administrative & waste services	37	$4.1M	2.2%
12	Agriculture, forestry & fishing	5	$4.1M	2.2%
13	Real estate & leasing	14	$3.8M	2.0%
14	Information	14	$3.2M	1.7%
15	Manufacturing	11	$2.3M	1.2%
16	Arts, entertainment & recreation	13	$2.0M	1.0%
17	Retail trade	12	$1.5M	0.8%
18	Mining & extraction	2	$1.3M	0.7%
19	Educational services	4	$1.0M	0.5%
20	Transportation & warehousing	1	$926K	0.5%
21	Finance & insurance	3	$638K	0.3%
22	Utilities	1	$10K	0.0%

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.