59 SBA loans worth $26.8M went to businesses in Shakopee, MN between October 2021 and June 2026, from 27 lenders. U.S. Bank made the most, 9 loans. The median loan was $200,000, compared with $212,000 across Minnesota, and construction was the most financed industry.
| # | Lender | Loans | Approved | Median loan | To startups |
|---|---|---|---|---|---|
| 1 | U.S. Bank Bank · Cincinnati, OH | 9 | $796K | $30,000 | 44% |
| 2 | BankVista Bank · Sartell, MN | 7 | $1.8M | $200,000 | 71% |
| 3 | Huntington National Bank Bank · Columbus, OH | 7 | $705K | $60,000 | 0% |
| 4 | Highland Bank Bank · St. Paul, MN | 3 | $1.0M | $450,000 | 0% |
| 5 | Amplio Economic Development Certified development company · Arden Hills, MN | 2 | $3.1M | $1,552,500 | 0% |
| 6 | Platinum Bank Bank · Oakdale, MN | 2 | $2.6M | $1,301,000 | 0% |
| 7 | Midwest Business Finance Certified development company · St. Cloud, MN | 2 | $2.6M | $1,283,000 | 50% |
| 8 | Central Minnesota Development Certified development company · Andover, MN | 2 | $2.2M | $1,092,500 | 0% |
| 9 | Drake Bank Bank · St. Paul, MN | 2 | $2.0M | $1,017,500 | 50% |
| 10 | Granite Bank Bank · Cold Spring, MN | 2 | $740K | $370,000 | 50% |
| 11 | Bridgewater Bank Bank · St. Louis Park, MN | 2 | $292K | $146,000 | 0% |
| 12 | BayFirst National Bank Bank · St. Petersburg, FL | 2 | $250K | $125,000 | 0% |
| 13 | Old National Bank Bank · Evansville, IN | 2 | $172K | $85,750 | 100% |
| 14 | Wells Fargo Bank Bank · Sioux Falls, SD | 2 | $35K | $17,500 | 100% |
| 15 | Twin Cities-Metro Certified Development Certified development company · Vadnais Heights, MN | 1 | $2.0M | $1,984,000 | 0% |
| Industry | Loans | Share | Median loan | Most active lender |
|---|---|---|---|---|
| Construction | 11 | $100,000 | U.S. Bank | |
| Professional and technical services | 10 | $218,750 | BankVista | |
| Administrative and support services | 6 | $105,000 | U.S. Bank | |
| Other services (repair, personal care) | 6 | $40,000 | U.S. Bank | |
| Restaurants and hotels | 5 | $350,000 | Huntington National Bank | |
| Retail | 4 | $430,500 | Cornerstone Bank | |
| Transportation and warehousing | 3 | $20,000 | Wells Fargo Bank | |
| Arts, entertainment and recreation | 3 | $672,600 | Magnifi Financial CU |