SBA Loans for Iron Ore Mining in Minnesota: Top Lenders
NAICS 212NAICS 212 covers iron ore mining businesses in Minnesota. Based on historical SBA 7(a) lending data.
Total Approvals
3
in Minnesota
Median Loan Size
$100,000
per approval
Recent Activity
0
last 90 days through Feb 2024
NAICS 212 covers iron ore mining businesses. This is a smaller category in SBA 7(a) lending with 3 approvals on record and a median loan size of $100,000.
Key trends & insights
- Iron Ore Mining in Minnesota lending is concentrated — Woodlands National Bank, 21st Century Bank, North Shore Bank OF Commerce together account for 100% of all approvals. If you're in this industry, these are your highest-probability lenders.
- Woodlands National Bank leads this industry with 1 approvals (33% market share) and a median loan of $80,600.
- Iron Ore Mining in Minnesota loans skew smaller than the SBA average at $100,000 median (vs. ~$450,000 overall) — good news if you need a smaller amount and want to avoid lenders with high minimums.
- SBA data for this industry goes through 2024-02-22 — the SBA releases lending data on a quarterly lag, so recent activity may not yet be reflected.
Most active SBA lenders for Iron Ore Mining in Minnesota
| # | Lender | Approvals | Median Size |
|---|---|---|---|
| 1 | 1 | $80,600 | |
| 2 | 1 | $150,000 | |
| 3 | 1 | $100,000 |
Recent SBA 7(a) approvals for Iron Ore Mining in Minnesota
| Month | Lender | Borrower | Location | Amount |
|---|---|---|---|---|
| 2024-02 | 21st Century Bank | Kno*****nc. | INVER GROVE HEIGHTS, MN | $150,000 |
| 2023-04 | North Shore Bank of Commerce | JBL*****LLC | TWO HARBORS, MN | $100,000 |
| 2021-03 | Woodlands National Bank | Zac*****vel | CLOQUET, MN | $80,600 |
Source: Historical SBA 7(a) lending records. Borrower names partially masked for privacy.
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