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 35% year-over-year — from 26 to 35 approvals.
- Total SBA dollars flowing into this industry increased by 129% year-over-year, reaching $24,628,200 in the trailing 12 months.
- Northeast Bank leads this industry with 16 approvals (21% market share) and a median loan of $150,000.
- The typical loan size for iron ore mining has increased 171% — average median moving from $320,208 to $867,092.
- 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 | 16 | $150,000 | |
| 2 | 5 | $25,000 | |
| 3 | 5 | $200,000 | |
| 4 | 4 | $650,000 | |
| 5 | 4 | $2,222,500 | |
| 6 | 4 | $50,000 | |
| 7 | 4 | $3,346,000 | |
| 8 | 4 | $267,200 | |
| 9 | 3 | $50,000 | |
| 10 | 3 | $603,000 | |
| 11 | 3 | $150,000 | |
| 12 | 3 | $200,000 | |
| 13 | 3 | $125,000 | |
| 14 | 2 | $51,000 | |
| 15 | 2 | $5,000,000 | |
| 16 | 2 | $300,000 | |
| 17 | 2 | $2,949,000 | |
| 18 | 2 | $100,000 | |
| 19 | 2 | $233,000 | |
| 20 | 2 | $1,660,000 |
Recent SBA 7(a) approvals for Iron Ore Mining
| Month | Lender | Borrower | Location | Amount |
|---|---|---|---|---|
| 2025-09 | Celtic Bank Corporation | BRI*****INC | ALISO VIEJO, CA | $150,000 |
| 2025-07 | Lewis & Clark Bank | Tee*****Inc | ASTORIA, OR | $5,000,000 |
| 2025-06 | U.S. Bank, National Association | FLA*****LLC | CAMERON, OK | $100,000 |
| 2025-05 | Northeast Bank | Oce*****Inc | Tomball, TX | $500,000 |
| 2025-05 | Ent CU | Gra*****LLC | Kremmling, CO | $2,650,000 |
| 2025-04 | Northeast Bank | Gal*****ing | Doral, FL | $250,000 |
| 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 |
| 2025-03 | Northeast Bank | New*****LLC | Huntingdon Valley, PA | $150,000 |
| 2025-03 | Northeast Bank | Wil*****Inc | Williston, FL | $150,000 |
| 2025-03 | U.S. Bank, National Association | DAR*****LLC | DRIGGS, ID | $32,500 |
| 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 | KAM*****INC | McMinnville, OR | $650,000 |
| 2025-02 | Newtek Bank, National Association | Gra*****LLC | Kremmling, CO | $2,400,000 |
| 2025-02 | Manufacturers and Traders Trust Company | Sal*****vel | LITTLE FALLS, NY | $15,000 |
| 2025-01 | Northeast Bank | WIL*****NC. | Williston, FL | $297,900 |
| 2025-01 | Northeast Bank | TIN*****LLC | Fairbanks, AK | $130,600 |
| 2025-01 | Northeast Bank | Emp*****Inc | Newport News, VA | $150,000 |
| 2025-01 | Northeast Bank | W V*****orp | Hyde Park, MA | $40,300 |
| 2025-01 | Northeast Bank | GER*****LLC | Summerville, SC | $50,000 |
| 2024-12 | Lendistry SBLC, LLC | MG *****NC. | Elk Grove Village, IL | $300,000 |
| 2024-12 | Bank Five Nine | KCG*****LLC | OCONTO FALLS, WI | $454,000 |
| 2024-12 | Northeast Bank | New*****LLC | Huntingdon Valley,, PA | $150,000 |
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, U.s. Bank, National Association, Keybank, National Association, and 17 more. Northeast Bank leads with 16 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.
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