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SBA lenders in Willmar, MN

SBA 7(a) and 504 loans to businesses in Willmar (Kandiyohi County), October 2021 to June 30, 2026 · Updated October 15, 2026
37
SBA loans approved
$23.6M
Total approved
$302,000
Median loan
18
Lenders active
30%
To startups

37 SBA loans worth $23.6M went to businesses in Willmar, MN between October 2021 and June 2026, from 18 lenders. Midwest Business Finance made the most, 9 loans. The median loan was $302,000, compared with $212,000 across Minnesota, and transportation and warehousing was the most financed industry.

Most active SBA lenders in Willmar

#LenderLoansApprovedMedian loanTo startups
1Midwest Business Finance
Certified development company · St. Cloud, MN
9$7.1M$412,0000%
2Old National Bank
Bank · Evansville, IN
5$4.9M$500,00060%
3Granite Bank
Bank · Cold Spring, MN
3$2.1M$500,0000%
4Lake Region Bank
Bank · New London, MN
3$670K$267,50033%
5Kensington Bank
Bank · Kensington, MN
3$396K$111,1000%
6Heritage Bank
Bank · Spicer, MN
2$450K$225,00050%
7Home State Bank
Bank · Litchfield, MN
1$2.8M$2,822,6000%
8Shoreham Bank
Bank · Warwick, RI
1$1.4M$1,350,0000%
9Enterprise Bank & Trust
Bank · Clayton, MO
1$1.3M$1,319,300100%
10Amplio Economic Development
Certified development company · Arden Hills, MN
1$662K$662,0000%
11First Bank & Trust
Bank · Brookings, SD
1$517K$516,900100%
12United Prairie Bank
Bank · Mountain Lake, MN
1$350K$350,0000%
13Coulee Bank
Bank · La Crosse, WI
1$338K$338,000100%
14Magnifi Financial CU
Credit union · Melrose, MN
1$250K$250,0000%
15United Minnesota Bank
Bank · New London, MN
1$131K$131,000100%
7(a) and 504 lenders combined, ranked by number of loans to businesses in Willmar. For 504 loans the lender shown is the certified development company.

What gets financed in Willmar

IndustryLoansShareMedian loanMost active lender
Transportation and warehousing6
16%
$187,500Old National Bank
Restaurants and hotels5
14%
$662,000Shoreham Bank
Retail5
14%
$500,000Granite Bank
Other services (repair, personal care)4
11%
$199,750Lake Region Bank
Construction3
8%
$131,000United Prairie Bank
Arts, entertainment and recreation2
5%
$244,000Heritage Bank
Administrative and support services2
5%
$81,000St Cloud Financial Credit Union
Manufacturing2
5%
$356,000Heritage Bank
Loan size mix
  • Under $150,00024%
  • $150,000 to $500,00038%
  • $500,000 to $2 million30%
  • $2 million and up8%
Compared with Minnesota
Median loan, Willmar
$302,000
Median loan, Minnesota
$212,000
Startup share, Willmar
30%
Startup share, Minnesota
35%
Share of state's SBA loans
0.5%

SBA loans per fiscal year in Willmar

0102030FY14: 5 loansFY14FY15: 14 loansFY15FY16: 10 loansFY16FY17: 24 loansFY1724FY18: 15 loansFY18FY19: 5 loansFY19FY20: 15 loansFY20FY21: 10 loansFY21FY22: 14 loansFY22FY23: 7 loansFY23FY24: 9 loansFY24FY25: 5 loansFY25FY26 (Oct to Jun): 2 loansFY262
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.