SBA Loans for Iron Ore Mining: Top Lenders & Recent Approvals
NAICS 212NAICS 212 covers iron ore mining businesses. Based on historical SBA 7(a) lending data.
Total Approvals
34
for Iron Ore Mining
Median Loan Size
$200,000
per approval
Recent Activity
1
last 90 days through Jun 2025
NAICS 212 covers iron ore mining businesses. This is a smaller category in SBA 7(a) lending with 34 approvals on record and a median loan size of $200,000.
Key trends & insights
- SBA lending to iron ore mining businesses grew 62% year-over-year — from 13 to 21 approvals.
- Total SBA dollars flowing into this industry decreased by 16% year-over-year, reaching $11,408,900 in the trailing 12 months.
- The typical loan size for iron ore mining has decreased 60% — average median moving from $1,131,108 to $451,292.
- Iron Ore Mining loans skew smaller than the SBA average at $200,000 median (vs. ~$450,000 overall) — good news if you need a smaller amount and want to avoid lenders with high minimums.
Lending trends for Iron Ore Mining
Top lenders by historical volume
| # | Lender | Approvals | Median Size |
|---|---|---|---|
| 1 | 4 | $250,000 | |
| 2 | 4 | $650,000 | |
| 3 | 2 | $51,000 | |
| 4 | 2 | $100,000 | |
| 5 | 2 | $1,050,000 | |
| 6 | 1 | $10,000 | |
| 7 | 1 | $393,000 | |
| 8 | 1 | $300,000 | |
| 9 | 1 | $500,000 | |
| 10 | 1 | $2,222,500 | |
| 11 | 1 | $50,000 | |
| 12 | 1 | $5,000,000 | |
| 13 | 1 | $150,000 | |
| 14 | 1 | $90,000 | |
| 15 | 1 | $1,734,000 | |
| 16 | 1 | $2,949,000 | |
| 17 | 1 | $80,600 | |
| 18 | 1 | $100,000 | |
| 19 | 1 | $631,900 | |
| 20 | 1 | $3,447,300 |
Recent SBA 7(a) approvals for Iron Ore Mining
| Month | Lender | Borrower | Location | Amount |
|---|---|---|---|---|
| 2025-06 | U.S. Bank, National Association | FLA*****LLC | CAMERON, OK | $100,000 |
| 2025-05 | Northeast Bank | Oce*****Inc | Tomball, TX | $500,000 |
| 2025-03 | Banesco USA | Sta*****LLC | STAFFORD SPRINGS, CT | $2,949,000 |
| 2025-03 | Newtek Bank, National Association | Tho*****LLC | Oakland, MD | $105,000 |
| 2025-03 | Lendistry SBLC, LLC | D. *****LLC | LA PLACE, LA | $300,000 |
| 2025-02 | Northeast Bank | Ava*****LLC | Vancouver, WA | $79,400 |
| 2025-02 | Meredith Village Savings Bank | SNO*****LLC | EXETER, NH | $100,000 |
| 2025-02 | Newtek Bank, National Association | Gra*****LLC | Kremmling, CO | $2,400,000 |
| 2025-02 | Newtek Bank, National Association | KAM*****INC | McMinnville, OR | $650,000 |
| 2024-11 | Northeast Bank | CAN*****NC. | Pompano Beach, FL | $250,000 |
| 2024-10 | Northeast Bank | SPA*****NC. | Jacksonville, FL | $150,000 |
| 2024-07 | First Bank of the Lake | HAR*****LLC | CALIFORNIA CITY, CA | $150,000 |
| 2024-07 | Manufacturers and Traders Trust Company | SCO*****NC. | ROCHESTER, NY | $50,000 |
| 2024-03 | JPMorgan Chase Bank, National Association | LOW*****LLC | ANTIOCH, IL | $500,000 |
| 2024-02 | 21st Century Bank | Kno*****nc. | INVER GROVE HEIGHTS, MN | $150,000 |
| 2024-02 | PS Bank | Roc*****LLC | UNION DALE, PA | $10,000 |
| 2024-02 | Readycap Lending, LLC | RTS*****LLC | Greenfield, IN | $50,000 |
| 2023-10 | Old National Bank | KNO*****LLC | CAMP VERDE, AZ | $393,000 |
| 2023-08 | The Huntington National Bank | Soe*****nc. | Beach City, OH | $2,222,500 |
| 2023-08 | Newtek Bank, National Association | Hol*****nc. | BROAD BROOK, CT | $150,000 |
| 2023-05 | Enterprise Bank | 422*****LLC | NEW CASTLE, PA | $150,000 |
| 2023-04 | North Shore Bank of Commerce | JBL*****LLC | TWO HARBORS, MN | $100,000 |
| 2022-12 | Citizens Community Federal National Association | MT *****nc. | Viroqua, WI | $1,050,000 |
| 2022-08 | Stone Bank | Lon*****LLC | GILLIAM, LA | $5,000,000 |
| 2022-02 | Citizens Community Federal National Association | Cry*****LLC | Plymoth, WI | $603,000 |
Source: Historical SBA 7(a) lending records. Borrower names partially masked for privacy.
Activity by state
State-by-state breakdown
| # | State | Approvals |
|---|---|---|
| 1 | Minnesota | 3 |
| 2 | Arizona | 2 |
| 3 | Connecticut | 2 |
| 4 | Florida | 2 |
| 5 | Louisiana | 2 |
| 6 | Oregon | 2 |
| 7 | Pennsylvania | 2 |
| 8 | Texas | 2 |
| 9 | Wisconsin | 2 |
| 10 | Washington | 1 |
| 11 | Maryland | 1 |
| 12 | California | 1 |
| 13 | New Hampshire | 1 |
| 14 | New York | 1 |
| 15 | Ohio | 1 |
| 16 | Oklahoma | 1 |
| 17 | Utah | 1 |
| 18 | Colorado | 1 |
| 19 | Virginia | 1 |
| 20 | Puerto Rico | 1 |
| 21 | Idaho | 1 |
| 22 | Illinois | 1 |
| 23 | Indiana | 1 |
| 24 | Kentucky | 1 |
SBA loans for Iron Ore Mining by state
Similar industries
Frequently asked questions about SBA loans for Iron Ore Mining
Who are the top SBA lenders for Iron Ore Mining?▾
Based on historical SBA 7(a) data, the most active lenders for Iron Ore Mining (NAICS 212) include Northeast Bank, Newtek Bank, National Association, PS Bank, and 17 more. Northeast Bank leads with 4 approved loans.
What is the typical SBA loan size for Iron Ore Mining?▾
The median SBA 7(a) loan amount for Iron Ore Mining businesses is $200,000, based on 34 total approved loans in the dataset.
Which states have the most SBA lending activity for Iron Ore Mining?▾
Minnesota leads with 3 SBA 7(a) approvals for Iron Ore Mining, followed by Arizona (2) and Connecticut (2).
How do I find the best SBA lender for my iron ore mining business?▾
Start by reviewing the lender rankings on this page, which are based on real SBA approval data for NAICS 212. You can also use the MyLenderPilot Lender Fit Quiz to get a personalized ranking based on your state, loan size, and years in business.
Find your best-fit SBA lenders
Get a personalized lender ranking based on your specific business details.
Get your lender shortlist