SBA Loans for Industrial Machinery and Equipment Merchant Wholesalers in Minnesota: Top Lenders
NAICS 423NAICS 423 covers industrial machinery and equipment merchant wholesalers businesses in Minnesota. Based on historical SBA 7(a) lending data.
Total Approvals
55
in Minnesota
Median Loan Size
$266,700
per approval
Recent Activity
1
last 90 days through Aug 2025
NAICS 423 covers industrial machinery and equipment merchant wholesalers businesses. This is a smaller category in SBA 7(a) lending with 55 approvals on record and a median loan size of $266,700.
Key trends & insights
- U.s. Bank, National Association leads this industry with 7 approvals (17% market share) and a median loan of $40,000.
Most active SBA lenders for Industrial Machinery and Equipment Merchant Wholesalers in Minnesota
| # | Lender | Approvals | Median Size |
|---|---|---|---|
| 1 | 7 | $40,000 | |
| 2 | 5 | $2,352,000 | |
| 3 | 3 | $1,098,500 | |
| 4 | 3 | $125,000 | |
| 5 | 3 | $600,000 | |
| 6 | 2 | $250,000 | |
| 7 | 2 | $80,000 | |
| 8 | 2 | $250,250 | |
| 9 | 2 | $1,014,500 | |
| 10 | 2 | $790,000 | |
| 11 | 2 | $2,500,000 | |
| 12 | 1 | $2,880,000 | |
| 13 | 1 | $300,000 | |
| 14 | 1 | $150,000 | |
| 15 | 1 | $400,000 | |
| 16 | 1 | $51,700 | |
| 17 | 1 | $266,700 | |
| 18 | 1 | $200,000 | |
| 19 | 1 | $100,000 | |
| 20 | 1 | $325,000 |
Recent SBA 7(a) approvals for Industrial Machinery and Equipment Merchant Wholesalers in Minnesota
| Month | Lender | Borrower | Location | Amount |
|---|---|---|---|---|
| 2025-12 | Citizens State Bank | EP *****nc. | BLOOMINGTON, MN | $2,530,400 |
| 2025-12 | U.S. Bank, National Association | COR*****LLC | MINNEAPOLIS, MN | $250,000 |
| 2025-11 | Wells Fargo Bank National Association | FRA*****LLC | NORTHFIELD, MN | $15,000 |
| 2025-11 | The Huntington National Bank | BRO*****LLC | MINNEAPOLIS, MN | $50,000 |
| 2025-09 | Wells Fargo Bank National Association | NOR*****LLC | ELK RIVER, MN | $30,000 |
| 2025-08 | Celtic Bank Corporation | Mid*****Inc | VIRGINIA, MN | $100,000 |
| 2025-07 | U.S. Bank, National Association | REP****LLC | SAINT PAUL, MN | $10,000 |
| 2025-07 | Old National Bank | Til*****nc. | Hopkins, MN | $350,000 |
| 2025-06 | First Resource Bank | Hop*****LLC | EAGAN, MN | $1,000,000 |
| 2025-05 | The Huntington National Bank | Bop*****LLC | SAINT PAUL, MN | $300,000 |
| 2025-05 | The Huntington National Bank | Bop*****LLC | SAINT PAUL, MN | $75,000 |
| 2025-05 | Security Bank USA | Moe****nc. | BEMIDJI, MN | $125,000 |
| 2025-04 | U.S. Bank, National Association | DRI*****LLC | PRIOR LAKE, MN | $40,000 |
| 2025-04 | Sunrise Banks National Association | YER*****LLC | Minneapolis, MN | $150,000 |
| 2025-03 | Citizens State Bank of Roseau | Ber*****ted | Roseau, MN | $2,880,000 |
| 2025-03 | Farmers and Merchants Savings Bank | Met*****LLC | FRIDLEY, MN | $150,000 |
| 2025-03 | Security Bank USA | CAR*****LLC | BEMIDJI, MN | $50,000 |
| 2025-03 | Security Bank USA | CAR*****LLC | BEMIDJI, MN | $50,000 |
| 2025-03 | Stearns Bank National Association | Riv*****nc. | RICHMOND, MN | $150,000 |
| 2025-03 | Security Bank USA | CAR*****LLC | BEMIDJI, MN | $100,000 |
| 2025-03 | The Huntington National Bank | OP4*****LLC | ELK RIVER, MN | $18,500 |
| 2025-03 | The Huntington National Bank | OP4*****LLC | ELK RIVER, MN | $50,000 |
| 2025-02 | Frandsen Bank and Trust | Sam*****les | Fridley, MN | $999,000 |
| 2024-12 | Readycap Lending, LLC | SAV*****.C. | SAVAGE, MN | $800,000 |
| 2024-11 | Magnifi Financial CU | BAT*****TED | St. Cloud, MN | $500,000 |
| 2024-11 | Platinum Bank | S&A*****LLC | SHAKOPEE, MN | $2,352,000 |
| 2024-10 | First Resource Bank | Lyo*****LLC | SAINT PAUL, MN | $1,000,000 |
| 2024-10 | U.S. Bank, National Association | URO*****.C. | WAYZATA, MN | $60,000 |
| 2024-09 | BankVista | Fre*****.C. | Rosemount, MN | $1,200,000 |
| 2024-09 | Choice Financial Group | SIM*****NC. | BURNSVILLE, MN | $50,000 |
| 2024-09 | U.S. Bank, National Association | EXC*****LLC | MINNEAPOLIS, MN | $10,200 |
| 2024-08 | Hiawatha National Bank | K&J*****LLC | MINNEAPOLIS, MN | $150,000 |
| 2024-08 | Choice Financial Group | Gre*****Inc | Mendota Heights, MN | $250,000 |
| 2024-08 | Choice Financial Group | Gre*****Inc | Mendota Heights, MN | $250,000 |
| 2024-08 | U.S. Bank, National Association | MN *****LLC | PINE CITY, MN | $40,000 |
| 2024-07 | U.S. Bank, National Association | C.C*****nc. | New Hope, MN | $1,650,000 |
| 2024-07 | U.S. Bank, National Association | C.C*****nc. | New Hope, MN | $350,000 |
| 2024-06 | American National Bank | Fer*****LLC | Minneapolis, MN | $75,000 |
| 2024-06 | American National Bank | Fer*****LLC | Minneapolis, MN | $486,500 |
| 2024-06 | Coulee Bank | Mid*****LLC | SAINT PAUL, MN | $105,500 |
| 2024-06 | Celtic Bank Corporation | Pur*****LLC | DULUTH, MN | $35,500 |
| 2024-05 | JPMorgan Chase Bank, National Association | SIL*****NC. | SAINT PAUL, MN | $80,000 |
| 2024-05 | JPMorgan Chase Bank, National Association | SIL*****NC. | SAINT PAUL, MN | $80,000 |
| 2024-04 | The Huntington National Bank | JAB*****LLC | MINNEAPOLIS, MN | $100,000 |
| 2024-04 | U.S. Bank, National Association | Lie*****nc. | SAVAGE, MN | $1,529,500 |
| 2024-04 | Frandsen Bank and Trust | Tte*****nc. | Barnum, MN | $1,726,000 |
| 2024-04 | Wells Fargo Bank National Association | TGA*****UTS | HOPKINS, MN | $25,000 |
| 2024-03 | The Huntington National Bank | INT*****INC | LAKEVILLE, MN | $20,000 |
| 2024-03 | Farmers and Merchants Savings Bank | Wak*****.C. | SPRING PARK, MN | $400,000 |
| 2024-02 | U.S. Bank, National Association | Smi*****nc. | MINNEAPOLIS, MN | $200,000 |
Source: Historical SBA 7(a) lending records. Borrower names partially masked for privacy.
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