SBA Loans for Homes for the Elderly in Minnesota: Top Lenders
NAICS 623NAICS 623 covers homes for the elderly businesses in Minnesota. Based on historical SBA 7(a) lending data.
Total Approvals
22
in Minnesota
Median Loan Size
$576,000
per approval
Recent Activity
0
last 90 days through Mar 2025
NAICS 623 covers homes for the elderly businesses. This is a smaller category in SBA 7(a) lending with 22 approvals on record and a median loan size of $576,000.
Key trends & insights
- Homes for the Elderly in Minnesota lending is concentrated — Hiawatha National Bank, Live OAK Banking Company, First Bank & Trust together account for 50% of all approvals. If you're in this industry, these are your highest-probability lenders.
- Hiawatha National Bank leads this industry with 6 approvals (27% market share) and a median loan of $485,750.
- SBA data for this industry goes through 2025-03-26 — the SBA releases lending data on a quarterly lag, so recent activity may not yet be reflected.
Most active SBA lenders for Homes for the Elderly in Minnesota
| # | Lender | Approvals | Median Size |
|---|---|---|---|
| 1 | 6 | $485,750 | |
| 2 | 3 | $351,000 | |
| 3 | 2 | $248,900 | |
| 4 | 1 | $750,000 | |
| 5 | 1 | $886,100 | |
| 6 | 1 | $800,000 | |
| 7 | 1 | $385,500 | |
| 8 | 1 | $1,000,000 | |
| 9 | 1 | $150,000 | |
| 10 | 1 | $720,000 | |
| 11 | 1 | $960,000 | |
| 12 | 1 | $259,500 | |
| 13 | 1 | $1,170,000 | |
| 14 | 1 | $1,090,000 |
Recent SBA 7(a) approvals for Homes for the Elderly in Minnesota
| Month | Lender | Borrower | Location | Amount |
|---|---|---|---|---|
| 2025-11 | BankVista | SHI*****LLC | SAINT PETER, MN | $2,903,500 |
| 2025-09 | Falcon National Bank | Rid*****LLC | MAPLEWOOD, MN | $757,400 |
| 2025-07 | Old National Bank | Epi*****.C. | MINNETONKA, MN | $984,000 |
| 2025-03 | First Bank & Trust | AGA*****INC | White Bear Township, MN | $347,800 |
| 2025-03 | First Bank & Trust | AGA*****INC | White Bear Township, MN | $150,000 |
| 2025-03 | Frandsen Bank and Trust | Ele*****LLC | Cloquet, MN | $1,000,000 |
| 2025-02 | First National Bank North | Far*****LLC | Pine River, MN | $1,434,000 |
| 2025-01 | Byline Bank | Her*****.C. | INVER GROVE HEIGHTS, MN | $3,400,000 |
| 2024-11 | First Bank & Trust | SCA*****LLC | WHITE BEAR LAKE, MN | $557,000 |
| 2024-11 | Wells Fargo Bank National Association | INN*****LLC | MAPLEWOOD, MN | $25,000 |
| 2024-11 | First Bank & Trust | SCA*****LLC | WHITE BEAR LAKE, MN | $200,000 |
| 2024-10 | Frandsen Bank and Trust | All*****LLC | Apple Valley, MN | $595,000 |
| 2024-08 | Hiawatha National Bank | Ame*****LLC | INVER GROVE HEIGHTS, MN | $99,000 |
| 2024-08 | Wells Fargo Bank National Association | Uni*****LLC | SAVAGE, MN | $150,000 |
| 2024-06 | Frandsen Bank and Trust | Jus*****Inc | Chisago City, MN | $755,000 |
| 2024-05 | Hiawatha National Bank | Ame*****LLC | INVER GROVE HEIGHTS, MN | $37,800 |
| 2024-03 | Hiawatha National Bank | Ame*****LLC | SAINT PAUL, MN | $567,000 |
| 2024-03 | Live Oak Banking Company | SMC*****INC | FARIBAULT, MN | $200,000 |
| 2024-03 | Live Oak Banking Company | SMC*****INC | FARIBAULT, MN | $3,075,000 |
| 2024-03 | Live Oak Banking Company | SMC*****INC | FARIBAULT, MN | $200,000 |
| 2024-03 | Live Oak Banking Company | SMC*****INC | FARIBAULT, MN | $3,075,000 |
| 2024-02 | BankVista | FOR*****NC. | LAKEVILLE, MN | $150,000 |
| 2024-01 | Hiawatha National Bank | 155*****LLC | MINNEAPOLIS, MN | $1,130,000 |
| 2023-09 | Byline Bank | LIV*****LLC | WATERVILLE, MN | $2,160,000 |
| 2023-09 | Byline Bank | Tem*****LLC | HOPKINS, MN | $1,000,000 |
| 2023-08 | First Bank & Trust | XP**LLC | Inver Grove Heights, MN | $962,600 |
| 2023-08 | Hiawatha National Bank | aff*****llc | ROSEMOUNT, MN | $150,000 |
| 2023-08 | Village Bank | Bok*****nc. | NORTH BRANCH, MN | $405,000 |
| 2023-08 | Hiawatha National Bank | ACM*****LLC | MINNEAPOLIS, MN | $1,387,000 |
| 2023-04 | BankVista | Min*****nc. | MINNETONKA, MN | $150,000 |
| 2023-03 | Live Oak Banking Company | SMC*****INC | NEW HOPE, MN | $351,000 |
| 2023-03 | Live Oak Banking Company | SMC*****INC | NEW HOPE, MN | $3,420,000 |
| 2023-03 | Byline Bank | Kin*****LLC | PRIOR LAKE, MN | $1,170,000 |
| 2023-03 | Live Oak Banking Company | SMC*****INC | NEW HOPE, MN | $300,000 |
| 2023-02 | Hiawatha National Bank | ACM*****LLC | MINNEAPOLIS, MN | $1,395,000 |
| 2023-02 | Byline Bank | Kin*****LLC | SAINT PAUL, MN | $950,000 |
| 2023-02 | Hiawatha National Bank | AMA*****LLC | MINNEAPOLIS, MN | $585,000 |
| 2023-02 | First Bank & Trust | Vue*****LLC | Saint Paul, MN | $4,845,600 |
| 2022-11 | Hiawatha National Bank | CBM*****LLC | SAINT PAUL, MN | $890,000 |
| 2022-10 | The Huntington National Bank | IND*****LLC | Bloomington, MN | $276,000 |
| 2022-10 | 21st Century Bank | Che*****LLC | LAKEVILLE, MN | $450,000 |
| 2022-09 | Hiawatha National Bank | Key*****LLC | MINNEAPOLIS, MN | $665,000 |
| 2022-09 | Hiawatha National Bank | 121*****LLC | MINNEAPOLIS, MN | $846,000 |
| 2022-07 | Hiawatha National Bank | ACM*****LLC | MINNEAPOLIS, MN | $209,000 |
| 2022-07 | Northeast Bank | Axi*****nc. | SAINT PAUL, MN | $3,690,000 |
| 2022-06 | BankVista | Min*****nc. | MINNETONKA, MN | $175,000 |
| 2022-06 | Hiawatha National Bank | Opp*****Inc | SAINT PAUL, MN | $100,000 |
| 2022-06 | Woodlands National Bank | Pat*****Inc | SAINT PAUL, MN | $200,000 |
| 2022-04 | Hiawatha National Bank | aff*****llc | ROSEMOUNT, MN | $125,000 |
| 2022-04 | Hiawatha National Bank | ACM*****LLC | MINNEAPOLIS, MN | $404,500 |
Source: Historical SBA 7(a) lending records. Borrower names partially masked for privacy.
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