Magnifi Financial CU approved 323 SBA loans worth $91.0M between October 2021 and June 2026, ranking #135 of 2,283 SBA lenders nationally by loan count. Its median loan was $245,500, and 76% went to startups or businesses under two years old. It lent in 41 states, most often in Minnesota, and its most financed industry was construction.
| State | Loans | Approved | Median loan | Rank in state |
|---|---|---|---|---|
| Minnesota | 60 | $17.7M | $250,000 | #33 |
| Texas | 46 | $11.5M | $182,150 | #85 |
| Florida | 32 | $9.0M | $262,900 | #89 |
| North Carolina | 16 | $5.5M | $228,500 | #62 |
| Georgia | 15 | $3.9M | $253,000 | #96 |
| California | 13 | $3.4M | $229,000 | #160 |
| Pennsylvania | 11 | $3.4M | $325,000 | #90 |
| Tennessee | 9 | $2.8M | $350,000 | #59 |
| Virginia | 9 | $2.9M | $400,000 | #80 |
| New Jersey | 8 | $2.3M | $276,500 | #92 |
| Ohio | 7 | $2.8M | $340,000 | #100 |
| New York | 7 | $1.5M | $172,000 | #127 |
| South Carolina | 6 | $1.9M | $301,000 | #67 |
| Michigan | 6 | $1.9M | $285,000 | #109 |
| Indiana | 6 | $906K | $141,500 | #88 |
| Industry | Loans | Share | Median loan |
|---|---|---|---|
| Construction | 57 | $230,000 | |
| Restaurants and hotels | 53 | $300,000 | |
| Administrative and support services | 38 | $150,000 | |
| Arts, entertainment and recreation | 37 | $365,000 | |
| Retail | 30 | $245,500 | |
| Other services (repair, personal care) | 29 | $304,000 | |
| Health care and social assistance | 27 | $169,700 | |
| Manufacturing | 13 | $250,000 | |
| Transportation and warehousing | 10 | $132,800 | |
| Education | 7 | $280,000 |