Local lending data
Who lends to businesses in Sherburne County?
102 SBA 7(a) loans went to businesses in Sherburne County recently, at a median of $111,500. The lenders that made them, ranked, with local rates and startup share.
102 SBA 7(a) loans went to businesses in Sherburne County in the most recent fiscal years, at a median of $111,500. The most active lender was The Huntington National Bank, with 18 loans.
SBA lending in Sherburne 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 | Sherburne County | Minnesota | National |
|---|---|---|---|
| Loans approved | 102 | 5,023 | 214,102 |
| Median loan | $111,500 | $150,000 | $150,000 |
| 25th - 75th percentile | $39,750 - $300,250 | $50,000 - $475,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years | 10 years |
| Median initial rate | 9.50% | 9.50% | 10.25% |
| Share to startups | 37.3% | 37.1% | 33.6% |
| Charge-off rate, FY2010-19 | 7.5% | 5.3% | 7.1% |
| Jobs supported | 750 | 57,646 | 2,142,602 |
Which lenders actually funded them
Ranked by loans approved to businesses in Sherburne 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 |
|---|---|---|---|---|
| The Huntington National Bank | 18 | $45,000 | 39% | 10.50% |
| U.S. Bank | 16 | $30,000 | 31% | 10.24% |
| The Bank of Elk River | 8 | $96,600 | 38% | 8.88% |
| BankVista | 6 | $210,350 | 50% | 8.88% |
| Sherburne State Bank | 4 | $162,000 | 50% | 9.22% |
| Bravera Bank | 4 | $166,950 | 100% | 10.25% |
| Wells Fargo Bank | 3 | $15,000 | 100% | 12.75% |
| First Bank & Trust | 3 | $203,900 | 67% | 8.15% |
| Frandsen Bank and Trust | 3 | $400,000 | 0% | 6.95% |
| Falcon National Bank | 3 | $581,500 | 0% | 10.50% |
What stands out here
Reading these figures against the national picture:
- Loans here run smaller than average. The median of $111,500 is 26% below the $150,000 national median. Smaller loans price higher under the SBA spread caps, so budget for a rate above the headline range.
- Startup share is about average, at 37% against 34% nationally.
- No single lender dominates, but the top three made 41% of these loans, so the shortlist below covers most of the active market.
- Rates run lower here. The median initial rate of 9.50% is 0.75 points below the 10.25% national median, which usually tracks loan size and perceived sector risk rather than geography.
Who borrows in Sherburne County
The mix of industries taking SBA loans here, led by construction.
| Sector | Loans | Share |
|---|---|---|
| Construction | 25 | 24.5% |
| Personal Services | 14 | 13.7% |
| Admin Services | 9 | 8.8% |
| Restaurants and Hotels | 9 | 8.8% |
| Professional Services | 9 | 8.8% |
| Retail | 8 | 7.8% |
| Manufacturing | 7 | 6.9% |
| Healthcare | 5 | 4.9% |
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, Ramsey County, Dakota County, Anoka County, Washington County, Stearns County, Scott County, Wright County