SBA Loans for Electrical Contractors in Minnesota: Top Lenders
NAICS 238NAICS 238 covers electrical contractors businesses in Minnesota. Based on historical SBA 7(a) lending data.
Total Approvals
178
in Minnesota
Median Loan Size
$100,000
per approval
Recent Activity
10
last 90 days through Dec 2025
NAICS 238 covers electrical contractors businesses. This is a moderately active sector for SBA 7(a) lending with 178 approvals and a median loan size of $100,000.
Key trends & insights
- Electrical Contractors in Minnesota lending is concentrated — U.s. Bank, National Association, Bankvista, THE Huntington National Bank together account for 52% of all approvals. If you're in this industry, these are your highest-probability lenders.
- U.s. Bank, National Association leads this industry with 44 approvals (31% market share) and a median loan of $30,000.
- Electrical Contractors 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.
Most active SBA lenders for Electrical Contractors in Minnesota
| # | Lender | Approvals | Median Size |
|---|---|---|---|
| 1 | 44 | $30,000 | |
| 2 | 15 | $180,000 | |
| 3 | 15 | $59,000 | |
| 4 | 11 | $933,000 | |
| 5 | 7 | $87,700 | |
| 6 | 6 | $40,000 | |
| 7 | 6 | $447,500 | |
| 8 | 6 | $1,137,750 | |
| 9 | 5 | $100,000 | |
| 10 | 4 | $585,000 | |
| 11 | 3 | $1,125,000 | |
| 12 | 3 | $137,200 | |
| 13 | 3 | $305,000 | |
| 14 | 3 | $300,000 | |
| 15 | 2 | $2,150,000 | |
| 16 | 2 | $126,250 | |
| 17 | 2 | $125,000 | |
| 18 | 2 | $73,700 | |
| 19 | 2 | $205,500 | |
| 20 | 2 | $790,000 |
Recent SBA 7(a) approvals for Electrical Contractors in Minnesota
| Month | Lender | Borrower | Location | Amount |
|---|---|---|---|---|
| 2025-12 | BankVista | GSW*****.C. | GOOD THUNDER, MN | $163,300 |
| 2025-08 | BankVista | BLU*****LLC | RICE, MN | $75,000 |
| 2025-08 | Granite Bank | SPE*****ion | Champlin, MN | $20,000 |
| 2025-07 | U.S. Bank, National Association | Off*****LLC | BECKER, MN | $361,400 |
| 2025-07 | U.S. Bank, National Association | RIV*****LLC | NORTH MANKATO, MN | $12,500 |
| 2025-06 | The Huntington National Bank | Pre*****nc. | Plymouth, MN | $18,300 |
| 2025-06 | The Huntington National Bank | Pre*****nc. | Plymouth, MN | $5,000 |
| 2025-06 | BankVista | SUN*****LLC | MANKATO, MN | $180,000 |
| 2025-06 | U.S. Bank, National Association | PRE*****LLC | PINE CITY, MN | $50,000 |
| 2025-06 | BankVista | SUN*****LLC | MANKATO, MN | $350,000 |
| 2025-05 | Falcon National Bank | Sun*****nc. | EAST BETHEL, MN | $336,000 |
| 2025-05 | Falcon National Bank | Sun*****nc. | EAST BETHEL, MN | $75,000 |
| 2025-05 | 21st Century Bank | Nor*****Inc | ANDOVER, MN | $315,000 |
| 2025-05 | First Resource Bank | KTB*****LLC | MINNETONKA, MN | $308,000 |
| 2025-03 | The First National Bank of Henning | Pre*****all | DETROIT LAKES, MN | $25,000 |
| 2025-03 | U.S. Bank, National Association | Acc*****LLP | PRINCETON, MN | $127,000 |
| 2025-03 | Union Bank and Trust Company | C.K*****nc. | Saint Paul, MN | $896,000 |
| 2025-03 | U.S. Bank, National Association | Acc*****LLP | PRINCETON, MN | $25,000 |
| 2025-03 | Bell Bank | Mos*****LLC | Two Harbors, MN | $117,800 |
| 2025-03 | Minnwest Bank | Way****LLC | FARMINGTON, MN | $225,000 |
| 2025-02 | Minnwest Bank | Str*****nc. | BURNSVILLE, MN | $850,000 |
| 2025-02 | U.S. Bank, National Association | TIL*****LLC | MINNEAPOLIS, MN | $22,000 |
| 2025-02 | MidWestOne Bank | BIG*****LLC | TAYLORS FALLS, MN | $300,000 |
| 2025-02 | U.S. Bank, National Association | R-W*****LLC | SAINT PAUL, MN | $18,500 |
| 2025-02 | U.S. Bank, National Association | GOS*****INC | MINNEAPOLIS, MN | $30,000 |
| 2025-02 | U.S. Bank, National Association | ENC*****LLC | MAPLE GROVE, MN | $70,000 |
| 2025-02 | U.S. Bank, National Association | TSI*****LLC | SAVAGE, MN | $50,000 |
| 2025-02 | The Huntington National Bank | JKl****LLC | MINNEAPOLIS, MN | $445,000 |
| 2025-02 | The Huntington National Bank | JKl****LLC | MINNEAPOLIS, MN | $90,000 |
| 2025-02 | Northeast Bank | Lar***** C. | Staples, MN | $120,000 |
| 2025-02 | BankVista | GET*****.C. | GOLDEN VALLEY, MN | $100,000 |
| 2025-01 | Pine River State Bank | Nor*****LLC | Shoreview, MN | $150,000 |
| 2025-01 | Bridgewater Bank | Tra*****LLC | SHAKOPEE, MN | $115,000 |
| 2025-01 | U.S. Bank, National Association | TJM*****LLC | PRIOR LAKE, MN | $28,000 |
| 2024-11 | Lake Elmo Bank | LCB*****rp. | Blaine, MN | $5,000,000 |
| 2024-11 | The Huntington National Bank | JE**LLC | BURNSVILLE, MN | $59,000 |
| 2024-10 | BankVista | REE*****LLC | EDINA, MN | $336,800 |
| 2024-10 | BankVista | REE*****LLC | CHANHASSEN, MN | $50,000 |
| 2024-08 | U.S. Bank, National Association | FIN*****LLC | NORTHFIELD, MN | $75,000 |
| 2024-08 | U.S. Bank, National Association | BON*****MPA | SAINT PAUL, MN | $50,000 |
| 2024-08 | Newtek Bank, National Association | Owa*****ers | OWATONNA, MN | $85,400 |
| 2024-08 | U.S. Bank, National Association | LOA*****LLC | MINNEAPOLIS, MN | $25,000 |
| 2024-08 | U.S. Bank, National Association | HEA*****LLC | SAVAGE, MN | $25,000 |
| 2024-08 | Drake Bank | Are*****LLC | Vadnais Heights, MN | $1,000,000 |
| 2024-08 | Merchants Bank, National Association | Win*****nc. | Caledonia, MN | $2,850,000 |
| 2024-08 | The Huntington National Bank | RID*****LLC | CLEVELAND, MN | $70,000 |
| 2024-08 | U.S. Bank, National Association | HIG***** CO | LONG LAKE, MN | $15,000 |
| 2024-08 | Old National Bank | SHE*****ANY | MINNEAPOLIS, MN | $3,954,300 |
| 2024-07 | Platinum Bank | Oli*****LLC | ROCKVILLE, MN | $1,820,000 |
| 2024-07 | U.S. Bank, National Association | DER*****LLC | MINNEAPOLIS, MN | $45,000 |
Source: Historical SBA 7(a) lending records. Borrower names partially masked for privacy.
Save your lender shortlist & build your packet
Answer 2 more questions to refine your ranking and export a lender-ready packet.
Save & export my packet