SBA Loans for Insurance Agencies and Brokerages in Minnesota: Top Lenders
NAICS 524NAICS 524 covers insurance agencies and brokerages businesses in Minnesota. Based on historical SBA 7(a) lending data.
Total Approvals
25
in Minnesota
Median Loan Size
$162,000
per approval
Recent Activity
3
last 90 days through Aug 2025
NAICS 524 covers insurance agencies and brokerages businesses. This is a smaller category in SBA 7(a) lending with 25 approvals on record and a median loan size of $162,000.
Key trends & insights
- No single lender dominates insurance agencies and brokerages in minnesota — the top 3 hold just 24% of approvals across 19+ active lenders. Borrowers have plenty of options to shop around.
- Insurance Agencies and Brokerages in Minnesota loans skew smaller than the SBA average at $162,000 median (vs. ~$450,000 overall) — good news if you need a smaller amount and want to avoid lenders with high minimums.
Most active SBA lenders for Insurance Agencies and Brokerages in Minnesota
| # | Lender | Approvals | Median Size |
|---|---|---|---|
| 1 | 2 | $240,000 | |
| 2 | 2 | $93,500 | |
| 3 | 2 | $1,075,000 | |
| 4 | 2 | $473,250 | |
| 5 | 2 | $125,000 | |
| 6 | 2 | $388,550 | |
| 7 | 1 | $50,000 | |
| 8 | 1 | $2,490,000 | |
| 9 | 1 | $42,000 | |
| 10 | 1 | $875,000 | |
| 11 | 1 | $150,000 | |
| 12 | 1 | $203,900 | |
| 13 | 1 | $115,600 | |
| 14 | 1 | $1,182,000 | |
| 15 | 1 | $20,000 | |
| 16 | 1 | $387,000 | |
| 17 | 1 | $150,000 | |
| 18 | 1 | $701,000 | |
| 19 | 1 | $264,000 |
Recent SBA 7(a) approvals for Insurance Agencies and Brokerages in Minnesota
| Month | Lender | Borrower | Location | Amount |
|---|---|---|---|---|
| 2025-11 | U.S. Bank, National Association | Ins*****nc. | JORDAN, MN | $648,300 |
| 2025-09 | Bell Bank | The*****Inc | Minneapolis, MN | $259,800 |
| 2025-08 | Minnwest Bank | Nic*****Inc | NEW PRAGUE, MN | $138,600 |
| 2025-08 | Bank of America, National Association | Gor*****LLC | MINNEAPOLIS, MN | $818,000 |
| 2025-08 | Affinity Plus FCU | Tru*****ion | Lake City, MN | $519,000 |
| 2025-08 | First Resource Bank | Way*****LLC | BURNSVILLE, MN | $100,000 |
| 2025-08 | Celtic Bank Corporation | Pra*****ncy | SAINT PAUL, MN | $150,000 |
| 2025-07 | First Bank & Trust | LIT*****LLC | Zimmerman, MN | $203,900 |
| 2025-06 | Newtek Bank, National Association | Tyl*****sen | WALNUT GROVE, MN | $150,000 |
| 2025-06 | Sherburne State Bank | Pav*****LLC | Montrose, MN | $54,000 |
| 2025-03 | Alerus Financial, National Association | Ver*****LLC | Blaine, MN | $362,500 |
| 2025-03 | BayFirst National Bank | Pra*****ncy | SAINT PAUL, MN | $115,600 |
| 2025-03 | Hiawatha National Bank | Gar*****Inc | Saint Paul, MN | $62,600 |
| 2025-03 | Highland Bank | Bis*****LLC | CHANHASSEN, MN | $184,500 |
| 2025-03 | Northeast Bank | Cla*****LLC | WYOMING, MN | $50,000 |
| 2025-03 | 21st Century Bank | Sec*****LLC | MINNEAPOLIS, MN | $100,000 |
| 2024-12 | Frandsen Bank and Trust | HLE*****any | Eagan, MN | $60,300 |
| 2024-09 | First Resource Bank | Way*****LLC | BURNSVILLE, MN | $150,000 |
| 2024-08 | Newtek Bank, National Association | Out*****tar | Minneapolis, MN | $2,000,000 |
| 2024-08 | Alerus Financial, National Association | Tag*****LLC | Blaine, MN | $584,000 |
| 2024-08 | U.S. Bank, National Association | BOU*****LLC | MINNEAPOLIS, MN | $42,000 |
| 2024-07 | Readycap Lending, LLC | Pra*****ncy | SAINT PAUL, MN | $50,000 |
| 2024-07 | Celtic Bank Corporation | Wal*****ncy | Apple Valley, MN | $50,100 |
| 2024-07 | Live Oak Banking Company | Bea*****nc. | JORDAN, MN | $280,000 |
| 2024-05 | Old National Bank | SMA*****LLC | CHANHASSEN, MN | $701,000 |
| 2024-04 | 21st Century Bank | Jen*****nc. | CIRCLE PINES, MN | $150,000 |
| 2024-02 | Old National Bank | Zen*****nc. | INVER GROVE HEIGHTS, MN | $588,000 |
| 2024-02 | First Bank of Central Ohio | Wil*****LLC | Burnsville, MN | $1,480,700 |
| 2024-02 | U.S. Bank, National Association | NGS*****LLC | MAPLE GROVE, MN | $185,400 |
| 2024-01 | Minnwest Bank | Sla*****nc. | DELANO, MN | $30,700 |
| 2023-08 | Old National Bank | Exc*****LLC | COLOGNE, MN | $1,365,900 |
| 2023-04 | Choice Financial Group | Sta*****Inc | EDEN PRAIRIE, MN | $1,072,700 |
| 2023-04 | Valley Premier Bank | Oer*****nc. | MOORHEAD, MN | $30,300 |
| 2023-04 | American National Bank of Minnesota | Fab*****nc. | ALEXANDRIA, MN | $50,000 |
| 2023-02 | Think Mutual Bank | Car*****ide | Rochester, MN | $264,000 |
| 2023-01 | 21st Century Bank | PRO*****NC. | ELK RIVER, MN | $100,000 |
| 2022-11 | Patriot Bank, National Association | Joe*****LLC | CAMBRIDGE, MN | $470,000 |
| 2022-10 | Farmers and Merchants Savings Bank | The*****LLC | Lino Lakes, MN | $752,100 |
| 2022-08 | Bridgewater Bank | Ath*****LLC | MINNEAPOLIS, MN | $350,000 |
| 2022-08 | Vantage Bank | Jef*****nc. | ALEXANDRIA, MN | $30,000 |
| 2022-06 | Live Oak Banking Company | Asp*****ncy | COON RAPIDS, MN | $2,490,000 |
| 2022-03 | Farmers and Merchants Savings Bank | Kau*****nc. | SAINT PAUL, MN | $25,000 |
| 2022-03 | Bravera Bank | Der*****Inc | SAINT MICHAEL, MN | $25,000 |
| 2022-02 | Welcome State Bank | Rya*****LLC | WAYZATA, MN | $42,000 |
| 2022-02 | Hiawatha National Bank | Twi*****LLC | SAINT PAUL, MN | $387,000 |
| 2022-02 | U.S. Bank, National Association | MAT*****LLC | BURNSVILLE, MN | $20,000 |
| 2022-01 | Magnifi Financial CU | Pro*****nc. | WILLMAR, MN | $250,000 |
| 2022-01 | Bravera Bank | Wil*****LLC | TWIN VALLEY, MN | $5,000 |
| 2021-12 | Bravera Bank | Wil*****LLC | TWIN VALLEY, MN | $162,000 |
| 2021-12 | Frandsen Bank and Trust | Key*****LLC | MANKATO, MN | $1,453,000 |
Source: Historical SBA 7(a) lending records. Borrower names partially masked for privacy.
Save your lender shortlist & build your packet
Answer 2 more questions to refine your ranking and export a lender-ready packet.
Save & export my packet