SBA Loans for Homes for the Elderly in Minnesota: Top Lenders
NAICS 623NAICS 623 covers homes for the elderly businesses in Minnesota. Based on historical SBA 7(a) lending data.
Total Approvals
22
in Minnesota
Median Loan Size
$576,000
per approval
Recent Activity
0
last 90 days through Mar 2025
NAICS 623 covers homes for the elderly businesses. This is a smaller category in SBA 7(a) lending with 22 approvals on record and a median loan size of $576,000.
Key trends & insights
- Homes for the Elderly in Minnesota lending is concentrated — Hiawatha National Bank, Live OAK Banking Company, First Bank & Trust together account for 50% of all approvals. If you're in this industry, these are your highest-probability lenders.
- Hiawatha National Bank leads this industry with 6 approvals (27% market share) and a median loan of $485,750.
Most active SBA lenders for Homes for the Elderly in Minnesota
| # | Lender | Approvals | Median Size |
|---|---|---|---|
| 1 | 6 | $485,750 | |
| 2 | 3 | $351,000 | |
| 3 | 2 | $248,900 | |
| 4 | 1 | $750,000 | |
| 5 | 1 | $886,100 | |
| 6 | 1 | $800,000 | |
| 7 | 1 | $385,500 | |
| 8 | 1 | $1,000,000 | |
| 9 | 1 | $150,000 | |
| 10 | 1 | $720,000 | |
| 11 | 1 | $960,000 | |
| 12 | 1 | $259,500 | |
| 13 | 1 | $1,170,000 | |
| 14 | 1 | $1,090,000 |
Recent SBA 7(a) approvals for Homes for the Elderly in Minnesota
| Month | Lender | Borrower | Location | Amount |
|---|---|---|---|---|
| 2025-03 | First Bank & Trust | AGA*****INC | White Bear Township, MN | $347,800 |
| 2025-03 | First Bank & Trust | AGA*****INC | White Bear Township, MN | $150,000 |
| 2025-03 | Frandsen Bank and Trust | Ele*****LLC | Cloquet, MN | $1,000,000 |
| 2024-08 | Wells Fargo Bank National Association | Uni*****LLC | SAVAGE, MN | $150,000 |
| 2024-03 | Hiawatha National Bank | Ame*****LLC | SAINT PAUL, MN | $567,000 |
| 2023-03 | Byline Bank | Kin*****LLC | PRIOR LAKE, MN | $1,170,000 |
| 2023-03 | Live Oak Banking Company | SMC*****INC | NEW HOPE, MN | $351,000 |
| 2023-03 | Live Oak Banking Company | SMC*****INC | NEW HOPE, MN | $3,420,000 |
| 2023-03 | Live Oak Banking Company | SMC*****INC | NEW HOPE, MN | $300,000 |
| 2023-02 | Hiawatha National Bank | ACM*****LLC | MINNEAPOLIS, MN | $1,395,000 |
| 2023-02 | Hiawatha National Bank | AMA*****LLC | MINNEAPOLIS, MN | $585,000 |
| 2022-04 | Hiawatha National Bank | ACM*****LLC | MINNEAPOLIS, MN | $404,500 |
| 2022-04 | Hiawatha National Bank | aff*****llc | ROSEMOUNT, MN | $125,000 |
| 2022-02 | Citizens State Bank | MIS*****OME | Brooklyn Center, MN | $259,500 |
| 2022-02 | Hiawatha National Bank | ACM*****LLC | SAINT PAUL, MN | $186,500 |
| 2022-02 | The Bank of Elk River | Par*****nc. | ZIMMERMAN, MN | $750,000 |
| 2021-05 | Minnwest Bank | Che*****LLC | SAUK RAPIDS, MN | $960,000 |
| 2021-05 | Bridgewater Bank | Ava*****LLC | HOPKINS, MN | $886,100 |
| 2021-04 | Falcon National Bank | Ser*****LLC | Shakopee, MN | $1,090,000 |
| 2021-02 | 21st Century Bank | Jus*****are | CHISAGO CITY, MN | $385,500 |
| 2020-12 | Byline Bank | New*****nc. | WATERVILLE, MN | $1,150,000 |
| 2020-08 | Ultima Bank Minnesota | Mil*****nc. | New York Mills, MN | $720,000 |
| 2020-06 | Highland Bank | Sen*****LLC | Brooklyn Park, MN | $800,000 |
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