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SBA Loans for Machine Shops in Minnesota: Top Lenders

NAICS 332

NAICS 332 covers machine shops businesses in Minnesota. Based on historical SBA 7(a) lending data.

Total Approvals

37

in Minnesota

Median Loan Size

$323,000

per approval

Recent Activity

2

last 90 days through Aug 2025

NAICS 332 covers machine shops businesses. This is a smaller category in SBA 7(a) lending with 37 approvals on record and a median loan size of $323,000.

Key trends & insights

  • OLD National Bank leads this industry with 8 approvals (22% market share) and a median loan of $312,500.

Most active SBA lenders for Machine Shops in Minnesota

#LenderApprovalsMedian Size
1
OLD National Bank
8$312,500
2
Hiawatha National Bank
4$375,000
3
Village Bank
4$417,900
4
Bankvista
3$100,000
5
Bankcherokee
2$324,000
6
THE Huntington National Bank
2$491,000
7
THE Bank OF ELK River
1$80,000
8
First Resource Bank
1$250,000
9
Bell Bank
1$1,737,200
10
Kensington Bank
1$184,100
11
Falcon National Bank
1$425,000
12
Platinum Bank
1$1,911,200
13
Stearns Bank, National Association
1$323,000
14
Security Savings Bank
1$67,000
15
Progrowth Bank
1$50,000
16
Frandsen Bank AND Trust
1$2,535,000
17
Wells Fargo Bank, National Association
1$15,000
18
Members Cooperative Credit Union
1$427,500
19
Community Savings Bank
1$1,148,300
20
U.s. Bank, National Association
1$350,000

Recent SBA 7(a) approvals for Machine Shops in Minnesota

MonthLenderBorrowerAmount
2025-08U.S. Bank, National AssociationJT *****Inc$350,000
2025-08Community Savings BankPur*****nc.$1,148,300
2025-02The Huntington National BankNor*****any$150,000
2025-02The Huntington National BankNor*****any$832,000
2024-08Hiawatha National BankAbi*****LLC$500,000
2024-07The Bank of Elk RiverBig*****LLC$80,000
2024-05Old National BankCen*****nc.$3,890,000
2024-05Old National BankCen*****nc.$500,000
2024-03ProGrowth BankAss*****nc.$50,000
2024-03Bell BankMad*****Inc$1,737,200
2023-08Security Savings BankBac*****LLC$67,000
2022-08Village BankNex*****LLC$300,100
2022-06Falcon National BankDou*****LLC$425,000
2022-04BankVistaCNC*****LLC$100,000
2022-02Hiawatha National BankCom*****LLC$236,000
2022-02BankVistaNAU*****LLC$50,000
2021-12Frandsen Bank and TrustAur*****Co.$2,535,000
2021-08Kensington BankAut*****ing$184,100
2021-08First Resource BankQu**LLC$250,000
2021-08Members Cooperative Credit UnionAlu*****nc.$427,500
2021-07Platinum BankESC*****LLC$1,911,200
2021-03BankCherokee401*****ted$348,000
2021-02Village BankMid*****Inc$203,300
2020-12Hiawatha National BankThe*****LLC$1,940,000
2020-12Hiawatha National BankThe*****LLC$250,000
2020-11Stearns Bank National AssociationADV*****LLC$323,000
2020-08BankVistaMID*****LLC$404,000
2020-06Old National BankSup*****LC.$1,541,400
2020-06Old National BankSou*****ion$125,000
2020-06Old National BankSup*****LC.$125,000
2020-06Old National BankSup*****LC.$125,000
2020-06Old National BankSou*****ion$125,000
2020-05Village BankMet*****Inc$535,700
2020-02BankCherokee401*****ted$300,000
2020-02Wells Fargo Bank National AssociationR A*****LLC$15,000
2019-12Old National BankSou*****ion$1,600,000
2019-11Village BankPre*****ion$3,266,900

Source: Historical SBA 7(a) lending records. Borrower names partially masked for privacy.

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