27 SBA loans worth $9.2M went to businesses in Park Rapids, MN between October 2021 and June 2026, from 9 lenders. Citizens National Bank of Park Rapids made the most, 8 loans. The median loan was $181,000, compared with $212,000 across Minnesota, and other services (repair, personal care) was the most financed industry.
| # | Lender | Loans | Approved | Median loan | To startups |
|---|---|---|---|---|---|
| 1 | Citizens National Bank of Park Rapids Bank · Park Rapids, MN | 8 | $1.4M | $140,000 | 50% |
| 2 | Midwest Business Finance Certified development company · St. Cloud, MN | 6 | $1.7M | $221,000 | 50% |
| 3 | Old National Bank Bank · Evansville, IN | 3 | $2.2M | $574,000 | 67% |
| 4 | BayFirst National Bank Bank · St. Petersburg, FL | 3 | $450K | $150,000 | 0% |
| 5 | Newtek Bank Bank · Miami, FL | 2 | $1.1M | $550,000 | 50% |
| 6 | Highland Bank Bank · St. Paul, MN | 2 | $295K | $147,500 | 100% |
| 7 | Twin Cities-Metro Certified Development Certified development company · Vadnais Heights, MN | 1 | $1.6M | $1,608,000 | 0% |
| 8 | Amplio Economic Development Certified development company · Arden Hills, MN | 1 | $249K | $249,000 | 0% |
| 9 | BankVista Bank · Sartell, MN | 1 | $100K | $100,000 | 0% |
| Industry | Loans | Share | Median loan | Most active lender |
|---|---|---|---|---|
| Other services (repair, personal care) | 9 | $105,000 | Citizens National Bank of Park Rapids | |
| Retail | 5 | $181,000 | Midwest Business Finance | |
| Restaurants and hotels | 4 | $542,000 | Midwest Business Finance | |
| Administrative and support services | 3 | $150,000 | BayFirst National Bank | |
| Real estate and rental | 3 | $249,000 | Citizens National Bank of Park Rapids | |
| Manufacturing | 2 | $114,000 | Citizens National Bank of Park Rapids | |
| Arts, entertainment and recreation | 1 | $265,000 | Citizens National Bank of Park Rapids |