Small Business Owner Resource
The past, present, and future of SBA 7(a) lending for Minnesota.
In 2022 there were 169 SBA lenders that approved 1,563 SBA 7(a) loans for projects in Minnesota totaling $630,977,600. The average loan amount was $403,697. Borrowers from 293 cities were approved for projects in Minnesota for 376 industries. The SBA loan approvals in 2022 represent 19,335 jobs supported or saved in Minnesota.
There were 90 franchise branded businesses receiving 168 loan approvals for $89,504,500 with an average loan amount of $532,765.
Our forecast model projects $661 million in total Minnesota SBA 7(a) loan approval amounts in 2023 with $92 million to franchise businesses.
Minnesota Lending Data For All SBA 7(a) Loans:
Data updated through 12/31/2022. See SBADNA Data Source & Methodology for more details.
Minnesota Lending Data For Franchise SBA 7(a) Loans Only:
Data updated through 12/31/2022. See SBADNA Data Source & Methodology for more details.
This intel is provided by SBADNA, an SBAmatch sister company.
Our SBA Lending Experts can leverage this intel with long-standing banking relationships to help you find the right loan for FREE.
