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SBA lenders in Owatonna, MN

SBA 7(a) and 504 loans to businesses in Owatonna (Steele County), October 2021 to June 30, 2026 · Updated October 15, 2026
26
SBA loans approved
$5.8M
Total approved
$163,150
Median loan
15
Lenders active
35%
To startups

26 SBA loans worth $5.8M went to businesses in Owatonna, MN between October 2021 and June 2026, from 15 lenders. Frandsen Bank and Trust made the most, 5 loans. The median loan was $163,150, compared with $212,000 across Minnesota, and other services (repair, personal care) was the most financed industry.

Most active SBA lenders in Owatonna

#LenderLoansApprovedMedian loanTo startups
1Frandsen Bank and Trust
Bank · Lonsdale, MN
5$1.7M$181,8000%
2Huntington National Bank
Bank · Columbus, OH
3$1.2M$266,000100%
3Community Bank Owatonna
Bank · Owatonna, MN
3$175K$50,0000%
4U.S. Bank
Bank · Cincinnati, OH
2$561K$280,4500%
5Southeastern Minnesota 504 Development
Certified development company · Rochester, MN
2$432K$216,0000%
6Wells Fargo Bank
Bank · Sioux Falls, SD
2$25K$12,500100%
7Amplio Economic Development
Certified development company · Arden Hills, MN
1$383K$383,0000%
8Live Oak Banking
Bank · Wilmington, NC
1$350K$350,000100%
9Northeast Bank
Bank · Portland, ME
1$250K$250,0000%
10Midwest Business Finance
Certified development company · St. Cloud, MN
1$158K$158,0000%
11Manufacturers Bank and Trust
Bank · Forest City, IA
1$150K$150,000100%
12United Midwest Savings Bank
Bank · Degraff, OH
1$150K$150,000100%
13Profinium
Bank · Truman, MN
1$100K$100,0000%
14Newtek Bank
Bank · Miami, FL
1$85K$85,4000%
15First National Bank
Bank · Oldham, SD
1$80K$80,000100%
7(a) and 504 lenders combined, ranked by number of loans to businesses in Owatonna. For 504 loans the lender shown is the certified development company.

What gets financed in Owatonna

IndustryLoansShareMedian loanMost active lender
Other services (repair, personal care)6
23%
$154,000U.S. Bank
Retail6
23%
$77,500Community Bank Owatonna
Construction4
15%
$175,050Frandsen Bank and Trust
Administrative and support services3
12%
$250,000Wells Fargo Bank
Manufacturing3
12%
$266,000Huntington National Bank
Professional and technical services1
4%
$350,000Live Oak Banking
Restaurants and hotels1
4%
$50,000Community Bank Owatonna
Transportation and warehousing1
4%
$676,900Frandsen Bank and Trust
Loan size mix
  • Under $150,00038%
  • $150,000 to $500,00046%
  • $500,000 to $2 million15%
  • $2 million and up0%
Compared with Minnesota
Median loan, Owatonna
$163,150
Median loan, Minnesota
$212,000
Startup share, Owatonna
35%
Startup share, Minnesota
35%
Share of state's SBA loans
0.3%

SBA loans per fiscal year in Owatonna

0102030FY14: 6 loansFY14FY15: 14 loansFY15FY16: 6 loansFY16FY17: 10 loansFY17FY18: 9 loansFY18FY19: 7 loansFY19FY20: 20 loansFY2020FY21: 10 loansFY21FY22: 7 loansFY22FY23: 7 loansFY23FY24: 7 loansFY24FY25: 1 loansFY25FY26 (Oct to Jun): 4 loansFY264
Fiscal year runs October to September. Fiscal 2026 covers October 2025 to June 2026 only.
Data from the U.S. Small Business Administration's public 7(a) and 504 loan records (through June 30, 2026) and FDIC call-report data (quarter ending June 30, 2026). US Lender Metrics is not affiliated with the SBA, FDIC, FFIEC, NCUA or any lender, is not a lender or loan broker, and does not make credit decisions. Information only; not financial, legal or lending advice. © 2026 US Lender Metrics.