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SBA lenders in Rochester, MN

SBA 7(a) and 504 loans to businesses in Rochester (Olmsted County), October 2021 to June 30, 2026 · Updated October 15, 2026
91
SBA loans approved
$61.6M
Total approved
$350,000
Median loan
37
Lenders active
35%
To startups

91 SBA loans worth $61.6M went to businesses in Rochester, MN between October 2021 and June 2026, from 37 lenders. Southeastern Minnesota 504 Development made the most, 13 loans. The median loan was $350,000, compared with $212,000 across Minnesota, and other services (repair, personal care) was the most financed industry.

Most active SBA lenders in Rochester

#LenderLoansApprovedMedian loanTo startups
1Southeastern Minnesota 504 Development
Certified development company · Rochester, MN
13$12.3M$817,00023%
2Huntington National Bank
Bank · Columbus, OH
9$1.6M$117,00078%
3Minnwest Bank
Bank · Redwood Falls, MN
7$5.6M$500,00029%
4Old National Bank
Bank · Evansville, IN
6$4.5M$425,00050%
5Alerus Financial
Bank · Grand Forks, ND
5$7.7M$1,160,00020%
6Coulee Bank
Bank · La Crosse, WI
5$659K$168,00020%
7Platinum Bank
Bank · Oakdale, MN
4$3.8M$1,009,50025%
8BankVista
Bank · Sartell, MN
4$2.4M$719,95025%
9Eagle Rock Bank
Bank · Rochester, MN
3$1.6M$294,8000%
10Premier Bank Minnesota
Bank · Hastings, MN
3$400K$120,00067%
11U.S. Bank
Bank · Cincinnati, OH
3$100K$40,00033%
12First Bank & Trust
Bank · Brookings, SD
2$2.4M$1,179,2500%
13Midwest Business Finance
Certified development company · St. Cloud, MN
2$1.0M$508,0000%
14Merchants Bank
Bank · Winona, MN
2$388K$193,90050%
15First Merchants Bank
Bank · Muncie, IN
1$3.8M$3,770,000100%
7(a) and 504 lenders combined, ranked by number of loans to businesses in Rochester. For 504 loans the lender shown is the certified development company.

What gets financed in Rochester

IndustryLoansShareMedian loanMost active lender
Other services (repair, personal care)17
19%
$333,800Southeastern Minnesota 504 Development
Health care and social assistance14
15%
$259,000BankVista
Restaurants and hotels11
12%
$486,000Southeastern Minnesota 504 Development
Retail10
11%
$505,000Platinum Bank
Transportation and warehousing9
10%
$117,000Huntington National Bank
Arts, entertainment and recreation7
8%
$515,000Southeastern Minnesota 504 Development
Construction7
8%
$200,000Coulee Bank
Professional and technical services3
3%
$50,000Minnwest Bank
Loan size mix
  • Under $150,00026%
  • $150,000 to $500,00032%
  • $500,000 to $2 million33%
  • $2 million and up9%
Compared with Minnesota
Median loan, Rochester
$350,000
Median loan, Minnesota
$212,000
Startup share, Rochester
35%
Startup share, Minnesota
35%
Share of state's SBA loans
1.1%

SBA loans per fiscal year in Rochester

0102030FY14: 18 loansFY14FY15: 18 loansFY15FY16: 29 loansFY1629FY17: 25 loansFY17FY18: 16 loansFY18FY19: 15 loansFY19FY20: 11 loansFY20FY21: 26 loansFY21FY22: 21 loansFY22FY23: 12 loansFY23FY24: 23 loansFY24FY25: 23 loansFY25FY26 (Oct to Jun): 12 loansFY2612
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.