34 SBA loans worth $11.7M went to businesses in Northfield, MN between October 2021 and June 2026, from 15 lenders. Merchants Bank made the most, 6 loans. The median loan was $166,500, compared with $212,000 across Minnesota, and retail was the most financed industry.
| # | Lender | Loans | Approved | Median loan | To startups |
|---|---|---|---|---|---|
| 1 | Merchants Bank Bank · Winona, MN | 6 | $1.1M | $94,000 | 67% |
| 2 | Community Resource Bank Bank · Northfield, MN | 6 | $721K | $102,500 | 17% |
| 3 | BankVista Bank · Sartell, MN | 4 | $2.5M | $150,000 | 50% |
| 4 | Southeastern Minnesota 504 Development Certified development company · Rochester, MN | 2 | $2.9M | $1,435,500 | 0% |
| 5 | Twin Cities-Metro Certified Development Certified development company · Vadnais Heights, MN | 2 | $1.5M | $740,000 | 0% |
| 6 | Amplio Economic Development Certified development company · Arden Hills, MN | 2 | $593K | $296,500 | 0% |
| 7 | Northeast Bank Bank · Portland, ME | 2 | $247K | $123,700 | 0% |
| 8 | Sunrise Banks Bank · Sioux Falls, SD | 2 | $161K | $80,500 | 100% |
| 9 | U.S. Bank Bank · Cincinnati, OH | 2 | $97K | $48,500 | 50% |
| 10 | Choice Financial Group Bank · Fargo, ND | 1 | $500K | $500,000 | 0% |
| 11 | Frandsen Bank and Trust Bank · Lonsdale, MN | 1 | $464K | $464,000 | 0% |
| 12 | 21st Century Bank Bank · Loretto, MN | 1 | $451K | $451,000 | 0% |
| 13 | EntreBank Bank · Bloomington, MN | 1 | $332K | $332,000 | 100% |
| 14 | Banesco USA Bank · Miami, FL | 1 | $185K | $184,700 | 0% |
| 15 | Wells Fargo Bank Bank · Sioux Falls, SD | 1 | $15K | $15,000 | 100% |
| Industry | Loans | Share | Median loan | Most active lender |
|---|---|---|---|---|
| Retail | 6 | $160,350 | Merchants Bank | |
| Construction | 5 | $75,000 | Merchants Bank | |
| Manufacturing | 4 | $740,000 | Twin Cities-Metro Certified Development | |
| Restaurants and hotels | 4 | $257,250 | Amplio Economic Development | |
| Professional and technical services | 3 | $50,000 | BankVista | |
| Other services (repair, personal care) | 3 | $229,900 | BankVista | |
| Administrative and support services | 3 | $45,000 | Community Resource Bank | |
| Health care and social assistance | 2 | $787,250 | Southeastern Minnesota 504 Development |