Ultima Bank Minnesota approved 50 SBA loans worth $15.5M between October 2021 and June 2026, ranking #566 of 2,283 SBA lenders nationally by loan count. Its median loan was $162,000, and 18% went to startups or businesses under two years old. It lent in 3 states, most often in Minnesota, and its most financed industry was agriculture, forestry and fishing.
| State | Loans | Approved | Median loan | Rank in state |
|---|---|---|---|---|
| Minnesota | 48 | $15.1M | $152,000 | #41 |
| North Dakota | 1 | $250K | $250,000 | #79 |
| Oklahoma | 1 | $190K | $190,000 | #208 |
| Industry | Loans | Share | Median loan |
|---|---|---|---|
| Agriculture, forestry and fishing | 21 | $154,000 | |
| Retail | 9 | $150,000 | |
| Restaurants and hotels | 5 | $135,000 | |
| Other services (repair, personal care) | 3 | $240,000 | |
| Arts, entertainment and recreation | 3 | $347,000 | |
| Construction | 2 | $310,000 | |
| Real estate and rental | 2 | $597,500 | |
| Wholesale trade | 2 | $82,500 | |
| Manufacturing | 1 | $50,000 | |
| Health care and social assistance | 1 | $100,000 |