Local lending data
Who lends to businesses in Ramsey County?
489 SBA 7(a) loans went to businesses in Ramsey County recently, at a median of $157,000. The lenders that made them, ranked, with local rates and startup share.
489 SBA 7(a) loans went to businesses in Ramsey County in the most recent fiscal years, at a median of $157,000. The most active lender was U.S. Bank, with 75 loans.
SBA lending in Ramsey County, by the numbers
Every figure here is computed from SBA 7(a) loan-level FOIA data released 2026-06-30 — loans that were actually approved to businesses in this county, not advertised ranges.
| Measure | Ramsey County | Minnesota | National |
|---|---|---|---|
| Loans approved | 489 | 5,023 | 214,102 |
| Median loan | $157,000 | $150,000 | $150,000 |
| 25th - 75th percentile | $50,000 - $500,000 | $50,000 - $475,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years | 10 years |
| Median initial rate | 9.75% | 9.50% | 10.25% |
| Share to startups | 32.9% | 37.1% | 33.6% |
| Charge-off rate, FY2010-19 | 6.6% | 5.3% | 7.1% |
| Jobs supported | 6,512 | 57,646 | 2,142,602 |
Which lenders actually funded them
Ranked by loans approved to businesses in Ramsey County. The median, startup share and rate columns describe each lender's own loans in this county, not its national averages.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| U.S. Bank | 75 | $50,000 | 35% | 9.24% |
| The Huntington National Bank | 53 | $75,000 | 34% | 10.00% |
| Wells Fargo Bank | 25 | $25,000 | 88% | 12.25% |
| BankVista | 18 | $260,900 | 6% | 9.00% |
| Northeast Bank | 16 | $150,000 | 50% | 9.25% |
| Frandsen Bank and Trust | 15 | $326,300 | 53% | 9.75% |
| First Resource Bank | 14 | $450,000 | 14% | 9.50% |
| Sunrise Banks | 13 | $254,000 | 69% | 10.75% |
| Choice Financial Group | 12 | $153,500 | 42% | 9.00% |
| Hiawatha National Bank | 12 | $334,000 | 25% | 9.00% |
What stands out here
Reading these figures against the national picture:
- Loan sizes are typical. The median of $157,000 is within a few percent of the $150,000 national median across all 7(a) borrowers, so nothing about this market is unusual on size.
- Startup share is about average, at 33% against 34% nationally.
- No single lender dominates, but the top three made 31% of these loans, so the shortlist below covers most of the active market.
- Rates run lower here. The median initial rate of 9.75% is 0.50 points below the 10.25% national median, which usually tracks loan size and perceived sector risk rather than geography.
Who borrows in Ramsey County
The mix of industries taking SBA loans here, led by retail.
| Sector | Loans | Share |
|---|---|---|
| Retail | 87 | 17.8% |
| Healthcare | 68 | 13.9% |
| Construction | 55 | 11.2% |
| Admin Services | 47 | 9.6% |
| Professional Services | 47 | 9.6% |
| Manufacturing | 40 | 8.2% |
| Personal Services | 36 | 7.4% |
| Restaurants and Hotels | 33 | 6.7% |
How to use this
- Shortlist three lenders from the table whose median loan in this county is close to what you need. Size match matters more than brand.
- Ask each whether they are a Preferred Lender and how many 7(a) loans they closed last year — see choosing an SBA lender.
- Check your coverage first with the affordability calculator, so you ask for a number your cash flow supports.
- Follow your sector link in the table above for lender data specific to your industry across Minnesota.
Other counties in Minnesota
- Nearby markets with published data: Hennepin County, Dakota County, Anoka County, Washington County, Stearns County, Scott County, Wright County, Carver County