SBA 7(a) lenders in Sibley, 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 Sibley, together $10.9M across 45 loans. ProGrowth Bank is the largest, with 25% of approvals.
| Rank | Lender | Loans | Approved | Share | Loss rate |
|---|---|---|---|---|---|
| 1 | ProGrowth Bank | 8 | $2.7M | 24.6% | 0.00% |
| 2 | First Bank of the Lake | 1 | $1.1M | 10.4% | 0.00% |
| 3 | Pioneer Bank | 2 | $900K | 8.2% | 0.00% |
| 4 | BankVista | 2 | $850K | 7.8% | 0.00% |
| 5 | Wells Fargo Bank National Association | 3 | $698K | 6.4% | 0.00% |
| 6 | Old National Bank | 3 | $683K | 6.2% | 0.00% |
| 7 | HomeTown Bank | 2 | $598K | 5.5% | 0.00% |
| 8 | Gulf Coast Bank and Trust Company | 1 | $556K | 5.1% | 0.00% |
| 9 | Citizens Bank & Trust Co | 3 | $486K | 4.4% | 0.00% |
| 10 | UMB Bank, National Association | 2 | $425K | 3.9% | 0.00% |
| 11 | Scale Bank | 1 | $400K | 3.7% | 0.00% |
| 12 | PrinsBank | 2 | $366K | 3.3% | 0.00% |
| 13 | First State Bank of Le Center | 4 | $247K | 2.3% | 5.63% |
| 14 | Alerus Financial, National Association | 1 | $245K | 2.2% | 0.00% |
| 15 | First National Bank Minnesota | 1 | $160K | 1.5% | 0.00% |
| 16 | FM Bank | 1 | $135K | 1.2% | 0.00% |
| 17 | United Prairie Bank | 1 | $98K | 0.9% | 0.00% |
| 18 | Highland Bank | 2 | $75K | 0.7% | 0.00% |
| 19 | Northeast Bank | 1 | $75K | 0.7% | 0.00% |
| 20 | Community Bank Mankato | 1 | $40K | 0.4% | 0.00% |
| 21 | First Farmers & Merchants Bank | 1 | $35K | 0.3% | 0.00% |
| 22 | U.S. Bank, National Association | 1 | $34K | 0.3% | 0.00% |
| 23 | VelocitySBA, LLC | 1 | $8K | 0.1% | 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 | Retail trade | 3 | $1.9M | 17.4% |
| 2 | Wholesale trade | 5 | $1.6M | 15.1% |
| 3 | Construction | 4 | $1.3M | 12.1% |
| 4 | Arts, entertainment & recreation | 3 | $925K | 8.5% |
| 5 | Finance & insurance | 3 | $809K | 7.4% |
| 6 | Accommodation & food services | 4 | $709K | 6.5% |
| 7 | Other services | 5 | $683K | 6.2% |
| 8 | Manufacturing | 2 | $645K | 5.9% |
| 9 | Administrative & waste services | 2 | $598K | 5.5% |
| 10 | Retail trade | 4 | $541K | 4.9% |
| 11 | Health care & social assistance | 3 | $498K | 4.6% |
| 12 | Transportation & warehousing | 3 | $252K | 2.3% |
| 13 | Manufacturing | 2 | $235K | 2.1% |
| 14 | Agriculture, forestry & fishing | 2 | $175K | 1.6% |
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.