Access the Top SBA Lending for Minnesota Small Business
From the city of Minneapolis, to the beauty of the North Shore entrepreneurs find a multitude of chances to succeed in Minnesota. With access to notch SBA lending programs small businesses in Minnesota can utilize financial resources to propel their ventures forward.
Minnesota
The North Star State
525,156 small businesses
1,300,000 small business employees
Source: US SBA Office of Advocacy - 2023 Report
Up to $500K Available
8.5% as of 2/2024 | 2 weeks to fund
If you are a small business owner considering an SBA loan, we suggest doing one of two things:

See if you qualify by taking 3 minutes to fill out the Application here.

This is the fastest way to get answers about an SBA loan. It will provide us with everything needed to get an approval.
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Business Dynamic of Minnesota
Between March 2021 and March 2022, 17,765 Minnesota establishments opened and 14,523 closed, for a net increase of 3,242. Employment expanded at 39,904 establishments and contracted at 30,946. Small businesses accounted for 17,084 openings and 13,879 closings.
Establishments in Minnesota
Employment in Minnesota
Between March 2021 and March 2022, 17,765 Minnesota establishments opened and 14,523 closed, for a net increase of 3,242. Employment expanded at 39,904 establishments and contracted at 30,946. Small businesses accounted for 17,084 openings and 13,879 closings.
Source: Business Employment Dynamics (BLS)
Small Business Loans in Minnesota
The Community Reinvestment Act requires large banks to report new small business loans. In 2021, reporting banks issued $1.5 billion in loans to Minnesota businesses with revenues of $1 million or less. Total reported new lending to businesses through loans of $100,000 or less was $1.6 billion. Total reported new lending to businesses through loans of $1 million or less was $5.1 billion.
New lending to businesses with revenues under $1 million
Source: CRA Aggregate Data (FFIEC)
Industries and Employment of Minnesota's Small Businesses
Source: Business Employment Dynamics (BLS)
Business Ownership Share by Demographic in Minnesota
Business Count by Demographic in Minnesota
Total Minnesota Employement by Business Size
Small Business Employment and Payroll by Industry in Minnesota
Source: Business Employment Dynamics (BLS)