SBA Loans for Industrial Machinery and Equipment Merchant Wholesalers in Minnesota: Top Lenders
NAICS 423NAICS 423 covers industrial machinery and equipment merchant wholesalers businesses in Minnesota. Based on historical SBA 7(a) lending data.
Total Approvals
55
in Minnesota
Median Loan Size
$266,700
per approval
Recent Activity
1
last 90 days through Aug 2025
NAICS 423 covers industrial machinery and equipment merchant wholesalers businesses. This is a smaller category in SBA 7(a) lending with 55 approvals on record and a median loan size of $266,700.
Key trends & insights
- U.s. Bank, National Association leads this industry with 7 approvals (17% market share) and a median loan of $40,000.
Most active SBA lenders for Industrial Machinery and Equipment Merchant Wholesalers in Minnesota
| # | Lender | Approvals | Median Size |
|---|---|---|---|
| 1 | 7 | $40,000 | |
| 2 | 5 | $2,352,000 | |
| 3 | 3 | $1,098,500 | |
| 4 | 3 | $125,000 | |
| 5 | 3 | $600,000 | |
| 6 | 2 | $250,000 | |
| 7 | 2 | $80,000 | |
| 8 | 2 | $250,250 | |
| 9 | 2 | $1,014,500 | |
| 10 | 2 | $790,000 | |
| 11 | 2 | $2,500,000 | |
| 12 | 1 | $2,880,000 | |
| 13 | 1 | $300,000 | |
| 14 | 1 | $150,000 | |
| 15 | 1 | $400,000 | |
| 16 | 1 | $51,700 | |
| 17 | 1 | $266,700 | |
| 18 | 1 | $200,000 | |
| 19 | 1 | $100,000 | |
| 20 | 1 | $325,000 |
Recent SBA 7(a) approvals for Industrial Machinery and Equipment Merchant Wholesalers in Minnesota
| Month | Lender | Borrower | Location | Amount |
|---|---|---|---|---|
| 2025-08 | Celtic Bank Corporation | Mid*****Inc | VIRGINIA, MN | $100,000 |
| 2025-05 | Security Bank USA | Moe****nc. | BEMIDJI, MN | $125,000 |
| 2025-03 | Citizens State Bank of Roseau | Ber*****ted | Roseau, MN | $2,880,000 |
| 2025-03 | Farmers and Merchants Savings Bank | Met*****LLC | FRIDLEY, MN | $150,000 |
| 2024-12 | Readycap Lending, LLC | SAV*****.C. | SAVAGE, MN | $800,000 |
| 2024-11 | Platinum Bank | S&A*****LLC | SHAKOPEE, MN | $2,352,000 |
| 2024-10 | First Resource Bank | Lyo*****LLC | SAINT PAUL, MN | $1,000,000 |
| 2024-08 | Choice Financial Group | Gre*****Inc | Mendota Heights, MN | $250,000 |
| 2024-08 | Choice Financial Group | Gre*****Inc | Mendota Heights, MN | $250,000 |
| 2024-08 | U.S. Bank, National Association | MN *****LLC | PINE CITY, MN | $40,000 |
| 2024-05 | JPMorgan Chase Bank, National Association | SIL*****NC. | SAINT PAUL, MN | $80,000 |
| 2024-05 | JPMorgan Chase Bank, National Association | SIL*****NC. | SAINT PAUL, MN | $80,000 |
| 2024-04 | U.S. Bank, National Association | Lie*****nc. | SAVAGE, MN | $1,529,500 |
| 2024-03 | The Huntington National Bank | INT*****INC | LAKEVILLE, MN | $20,000 |
| 2024-02 | 21st Century Bank | NOR*****NC. | BURNSVILLE, MN | $200,000 |
| 2024-01 | Frandsen Bank and Trust | Arr*****nc. | Virginia, MN | $1,949,000 |
| 2023-12 | Wells Fargo Bank National Association | Ekc*****Inc | WAVERLY, MN | $1,473,800 |
| 2023-10 | First Resource Bank | Lyo*****LLC | Saint Paul, MN | $4,000,000 |
| 2023-08 | Northeast Bank | PRI*****NC. | MINNEAPOLIS, MN | $250,000 |
| 2023-08 | Platinum Bank | Sho*****LLC | Burnsville, MN | $2,500,000 |
| 2023-08 | Platinum Bank | Sho*****LLC | Burnsville, MN | $250,000 |
| 2023-06 | Kensington Bank | Imp*****nc. | WAITE PARK, MN | $120,000 |
| 2023-06 | Kensington Bank | Imp*****nc. | WAITE PARK, MN | $125,000 |
| 2023-04 | U.S. Bank, National Association | TAM*****L C | MAPLE GROVE, MN | $20,000 |
| 2023-03 | U.S. Bank, National Association | KWI***** C. | SAINT PAUL, MN | $40,000 |
| 2023-01 | Wells Fargo Bank National Association | BLA*****LLC | VADNAIS HEIGHTS, MN | $20,000 |
| 2022-11 | Alerus Financial, National Association | Adv*****LLC | SAINT PAUL, MN | $4,000,000 |
| 2022-08 | Platinum Bank | Nor*****nc. | Eagan, MN | $2,500,000 |
| 2022-08 | Alerus Financial, National Association | Bob*****nc. | LA CRESCENT, MN | $2,459,000 |
| 2022-08 | U.S. Bank, National Association | KEN*****INC | WAYZATA, MN | $30,000 |
| 2022-08 | Hiawatha National Bank | Mid*****any | BURNSVILLE, MN | $600,000 |
| 2022-05 | Old National Bank | Ale*****nc. | ALEXANDRIA, MN | $350,000 |
| 2022-02 | Stearns Bank National Association | PD****NC. | BRAINERD, MN | $300,000 |
| 2022-02 | BankCherokee | FLE*****INC | BURNSVILLE, MN | $760,500 |
| 2022-02 | Highland Bank | Bel*****LLC | Excelsior, MN | $140,000 |
| 2022-02 | BankCherokee | FLE*****INC | BURNSVILLE, MN | $400,000 |
| 2021-11 | Minnwest Bank | XIB****LLC | EDEN PRAIRIE, MN | $200,000 |
| 2021-10 | Security Bank & Trust Company | Clo*****nc. | Stanchfield, MN | $584,300 |
| 2021-08 | Manufacturers Bank & Trust Company | Spo*****nc. | BLOOMING PRAIRIE, MN | $127,500 |
| 2021-08 | Scale Bank | Off*****nc. | BELLE PLAINE, MN | $400,000 |
| 2021-07 | 21st Century Bank | Mid*****LLC | MINNEAPOLIS, MN | $1,380,000 |
| 2021-06 | Kensington Bank | K&a*****rts | Rockville, MN | $680,000 |
| 2021-06 | Northeast Entrepreneur Fund, Inc. | Ton*****LLC | Hermantown, MN | $51,700 |
| 2021-05 | Security Bank USA | 3 T*****ies | BUFFALO LAKE, MN | $100,000 |
| 2021-05 | Platinum Bank | Des*****LLc | MINNEAPOLIS, MN | $1,000,000 |
| 2021-03 | Wells Fargo Bank National Association | Gra*****nc. | DODGE CENTER, MN | $1,098,500 |
| 2021-02 | Drake Bank | Ant*****LLC | SAINT PAUL, MN | $300,500 |
| 2021-02 | Drake Bank | Ant*****LLC | SAINT PAUL, MN | $200,000 |
| 2021-02 | VisionBank | Dun*****LLC | Plymouth, MN | $325,000 |
| 2021-01 | U.S. Bank, National Association | PAL*****NC. | MINNEAPOLIS, MN | $50,000 |
Source: Historical SBA 7(a) lending records. Borrower names partially masked for privacy.
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