SBA Loans for Boat Dealers in Minnesota: Top Lenders
NAICS 441NAICS 441 covers boat dealers businesses in Minnesota. Based on historical SBA 7(a) lending data.
Total Approvals
11
in Minnesota
Median Loan Size
$100,000
per approval
Recent Activity
1
last 90 days through Nov 2025
NAICS 441 covers boat dealers businesses. This is a smaller category in SBA 7(a) lending with 11 approvals on record and a median loan size of $100,000.
Key trends & insights
- U.s. Bank, National Association leads this industry with 2 approvals (18% market share) and a median loan of $222,850.
- Boat Dealers 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 Boat Dealers in Minnesota
| # | Lender | Approvals | Median Size |
|---|---|---|---|
| 1 | 2 | $222,850 | |
| 2 | 1 | $150,000 | |
| 3 | 1 | $50,000 | |
| 4 | 1 | $218,900 | |
| 5 | 1 | $200,000 | |
| 6 | 1 | $100,000 | |
| 7 | 1 | $15,000 | |
| 8 | 1 | $95,500 | |
| 9 | 1 | $80,000 | |
| 10 | 1 | $150,000 |
Recent SBA 7(a) approvals for Boat Dealers in Minnesota
| Month | Lender | Borrower | Location | Amount |
|---|---|---|---|---|
| 2025-12 | Northeast Bank | LeP*****orp | Fosston, MN | $300,000 |
| 2025-11 | Stearns Bank National Association | MOH*****NC. | PINE CITY, MN | $80,000 |
| 2025-08 | Northern State Bank of Virginia | A+ *****nc. | Carlton, MN | $1,538,000 |
| 2025-07 | Granite Bank | Ant*****LLC | Shakopee, MN | $500,000 |
| 2025-07 | Northern State Bank of Virginia | A+ *****nc. | CARLTON, MN | $1,538,000 |
| 2025-03 | The Bank of Elk River | Sea*****LLC | ROGERS, MN | $400,000 |
| 2025-02 | Falcon National Bank | Kin*****LLC | WHITE BEAR LAKE, MN | $150,000 |
| 2025-02 | U.S. Bank, National Association | Roc*****LLC | MONTICELLO, MN | $725,000 |
| 2024-11 | Wells Fargo Bank National Association | CAR****LLC | BLAINE, MN | $30,000 |
| 2024-08 | Associated Bank, National Association | MAR*****LLC | MINNEAPOLIS, MN | $150,000 |
| 2024-08 | Associated Bank, National Association | MAR*****LLC | MINNEAPOLIS, MN | $355,000 |
| 2024-08 | Readycap Lending, LLC | Sou****ves | ANOKA, MN | $50,000 |
| 2024-08 | Newtek Bank, National Association | INF*****LLC | Ham Lake, MN | $100,000 |
| 2024-07 | City National Bank of Florida | Vid*****L.C | Columbia Heights, MN | $63,000 |
| 2024-07 | Citizens Bank & Trust Co | B A*****NC. | HUTCHINSON, MN | $250,000 |
| 2024-06 | Welcome State Bank | Fee*****rts | WELCOME, MN | $100,000 |
| 2024-01 | Ultima Bank Minnesota | Sin*****Inc | BEMIDJI, MN | $75,000 |
| 2023-09 | Wells Fargo Bank National Association | AAA*****TED | SAINT PAUL, MN | $176,800 |
| 2023-04 | Magnifi Financial CU | In *****LLC | RICHMOND, MN | $500,000 |
| 2023-04 | Bravera Bank | Car*****LLC | Elk River, MN | $218,900 |
| 2023-03 | Old National Bank | Thi*****LLC | Thief River Falls, MN | $1,215,000 |
| 2023-02 | Wells Fargo Bank National Association | AAA*****TED | SAINT PAUL, MN | $176,800 |
| 2022-11 | BankVista | TUN*****LLC | AVON, MN | $382,000 |
| 2022-09 | Wells Fargo Bank National Association | AAA*****TED | SAINT PAUL, MN | $176,800 |
| 2022-08 | Celtic Bank Corporation | Rad*****com | Ottertail, MN | $95,500 |
| 2022-06 | Deerwood Bank | Ait*****Inc | Aitkin, MN | $1,784,000 |
| 2022-05 | Choice Financial Group | Twi*****les | ELKO NEW MARKET, MN | $710,000 |
| 2022-04 | Newtek Small Business Finance, Inc. | Cla*****ons | MINNEAPOLIS, MN | $40,000 |
| 2022-03 | Falcon National Bank | Rou*****LLC | Ham Lake, MN | $1,401,100 |
| 2022-02 | U.S. Bank, National Association | Shi*****LLC | HARRIS, MN | $420,700 |
| 2022-01 | VisionBank | JML*****.C. | OSSEO, MN | $30,000 |
| 2022-01 | Kensington Bank | The*****Inc | Waite Park, MN | $794,500 |
| 2021-09 | Viking Bank National Association | Far*****nc. | ALEXANDRIA, MN | $322,000 |
| 2021-09 | Stearns Bank National Association | MOH*****NC. | HINCKLEY, MN | $560,000 |
| 2021-07 | Coulee Bank | Mid*****LLC | LAKE CITY, MN | $675,000 |
| 2021-07 | The Bank of Elk River | Tir*****LLC | Rockford, MN | $100,000 |
| 2021-07 | U.S. Bank, National Association | BRA*****LLC | SAINT PAUL, MN | $25,000 |
| 2021-06 | Wells Fargo Bank National Association | ALM*****LLC | WAYZATA, MN | $15,000 |
| 2021-06 | 21st Century Bank | Twi*****nc. | Blaine, MN | $786,000 |
| 2021-05 | BankVista | Gro*****LLC | EAST BETHEL, MN | $1,847,500 |
| 2021-04 | The Bank of Elk River | Mon*****nc. | Monticello, MN | $106,600 |
| 2021-04 | The Bank of Elk River | Mon*****nc. | Monticello, MN | $100,000 |
| 2021-03 | Ultima Bank Minnesota | Sin*****Inc | BEMIDJI, MN | $300,000 |
| 2021-03 | Affinity Plus FCU | Mob*****.C. | Baxter, MN | $40,000 |
| 2021-02 | Wadena State Bank | Lun*****LLC | WADENA, MN | $225,000 |
| 2021-02 | Wadena State Bank | MJJ*****LLC | WADENA, MN | $80,000 |
| 2021-02 | Magnifi Financial CU | In *****LLC | RICHMOND, MN | $400,000 |
| 2021-02 | Cornerstone State Bank | Riv*****LLC | Belle Plaine, MN | $371,000 |
| 2020-12 | American National Bank | Atl*****LLC | Saint Paul, MN | $744,000 |
| 2020-12 | American National Bank | Atl*****LLC | Saint Paul, MN | $100,000 |
Source: Historical SBA 7(a) lending records. Borrower names partially masked for privacy.
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