39 SBA loans worth $9.9M went to businesses in Hugo, MN between October 2021 and June 2026, from 16 lenders. Huntington National Bank made the most, 10 loans. The median loan was $75,000, compared with $212,000 across Minnesota, and construction was the most financed industry.
| # | Lender | Loans | Approved | Median loan | To startups |
|---|---|---|---|---|---|
| 1 | Huntington National Bank Bank · Columbus, OH | 10 | $1.1M | $37,500 | 40% |
| 2 | U.S. Bank Bank · Cincinnati, OH | 9 | $315K | $30,000 | 44% |
| 3 | Northeast Bank Bank · Portland, ME | 3 | $385K | $75,000 | 0% |
| 4 | Amplio Economic Development Certified development company · Arden Hills, MN | 2 | $2.3M | $1,144,000 | 50% |
| 5 | BankVista Bank · Sartell, MN | 2 | $864K | $432,000 | 0% |
| 6 | First State Bank and Trust Bank · Bayport, MN | 2 | $654K | $326,900 | 0% |
| 7 | Platinum Bank Bank · Oakdale, MN | 2 | $548K | $274,000 | 100% |
| 8 | Old National Bank Bank · Evansville, IN | 1 | $1.2M | $1,211,000 | 100% |
| 9 | Central Minnesota Development Certified development company · Andover, MN | 1 | $735K | $735,000 | 0% |
| 10 | Bell Bank Bank · Fargo, ND | 1 | $592K | $591,700 | 0% |
| 11 | 21st Century Bank Bank · Loretto, MN | 1 | $492K | $492,300 | 0% |
| 12 | Twin Cities-Metro Certified Development Certified development company · Vadnais Heights, MN | 1 | $295K | $295,000 | 100% |
| 13 | City & County CU Credit union · St. Paul, MN | 1 | $188K | $187,500 | 0% |
| 14 | First Bank & Trust Bank · Brookings, SD | 1 | $134K | $133,500 | 0% |
| 15 | United Midwest Savings Bank Bank · Degraff, OH | 1 | $75K | $75,000 | 100% |
| Industry | Loans | Share | Median loan | Most active lender |
|---|---|---|---|---|
| Construction | 13 | $68,100 | Huntington National Bank | |
| Restaurants and hotels | 6 | $25,000 | U.S. Bank | |
| Other services (repair, personal care) | 5 | $75,000 | U.S. Bank | |
| Professional and technical services | 5 | $198,000 | Platinum Bank | |
| Retail | 4 | $249,450 | Wells Fargo Bank | |
| Health care and social assistance | 2 | $667,600 | BankVista | |
| Arts, entertainment and recreation | 2 | $187,000 | Huntington National Bank | |
| Administrative and support services | 1 | $50,000 | Northeast Bank |