48 SBA loans worth $27.1M went to businesses in Forest Lake, MN between October 2021 and June 2026, from 19 lenders. U.S. Bank made the most, 13 loans. The median loan was $330,500, compared with $212,000 across Minnesota, and other services (repair, personal care) was the most financed industry.
| # | Lender | Loans | Approved | Median loan | To startups |
|---|---|---|---|---|---|
| 1 | U.S. Bank Bank · Cincinnati, OH | 13 | $2.5M | $50,000 | 31% |
| 2 | Twin Cities-Metro Certified Development Certified development company · Vadnais Heights, MN | 4 | $4.8M | $1,170,000 | 25% |
| 3 | Amplio Economic Development Certified development company · Arden Hills, MN | 4 | $3.7M | $899,500 | 0% |
| 4 | Bell Bank Bank · Fargo, ND | 4 | $2.0M | $498,600 | 0% |
| 5 | Huntington National Bank Bank · Columbus, OH | 4 | $721K | $162,500 | 50% |
| 6 | BankVista Bank · Sartell, MN | 3 | $1.8M | $788,400 | 67% |
| 7 | Old National Bank Bank · Evansville, IN | 2 | $1.2M | $584,750 | 0% |
| 8 | Farmers and Merchants Savings Bank Bank · Manchester, IA | 2 | $582K | $290,850 | 50% |
| 9 | Wells Fargo Bank Bank · Sioux Falls, SD | 2 | $35K | $17,500 | 100% |
| 10 | Live Oak Banking Bank · Wilmington, NC | 1 | $5.0M | $5,000,000 | 100% |
| 11 | Readycap Lending Non-bank lender · Berkeley Heights, NJ | 1 | $1.2M | $1,212,000 | 0% |
| 12 | Frandsen Bank and Trust Bank · Lonsdale, MN | 1 | $1.1M | $1,147,000 | 0% |
| 13 | Platinum Bank Bank · Oakdale, MN | 1 | $1.1M | $1,140,000 | 0% |
| 14 | Members Cooperative Credit Union Credit union · Duluth, MN | 1 | $500K | $500,000 | 100% |
| 15 | Choice Financial Group Bank · Fargo, ND | 1 | $361K | $361,000 | 0% |
| Industry | Loans | Share | Median loan | Most active lender |
|---|---|---|---|---|
| Other services (repair, personal care) | 10 | $114,000 | U.S. Bank | |
| Retail | 7 | $539,700 | Huntington National Bank | |
| Transportation and warehousing | 6 | $408,850 | U.S. Bank | |
| Construction | 6 | $175,000 | U.S. Bank | |
| Health care and social assistance | 5 | $80,000 | Twin Cities-Metro Certified Development | |
| Administrative and support services | 4 | $255,500 | Choice Financial Group | |
| Real estate and rental | 3 | $100,000 | First Resource Bank | |
| Professional and technical services | 3 | $865,000 | Live Oak Banking |