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SBA loans to hotels in Minnesota: lenders, volume and loan sizes

Compiled by Matthews Hotel Markets · Last updated: September 18, 2026 · SBA data as of June 30, 2026

From FY2021 to FY2025, SBA approved 83 loans to hotels and motels in Minnesota for $113.0 million: 37 under 7(a) and 46 under 504, per SBA loan-level data as of June 30, 2026. That is 1.6% of the 5,298 SBA hotel loans approved nationally in those years, which ranks Minnesota tied for 21st of 53 states and territories by loan count. In FY2025 alone, Minnesota had 13 SBA hotel loans. BankVista is named on the most 7(a) hotel loans in Minnesota from FY2023 to FY2025: 3.

What stands out in Minnesota

  • The 504 program makes up 55.4% of SBA hotel loans in Minnesota from FY2021 to FY2025, versus 26.8% nationally. The rest are 7(a) loans.
  • The median 7(a) hotel loan in Minnesota was $800,000, 66.7% below the national median of $2.40 million for the same years. The median 504 debenture was $1.03 million, 51.1% below the national $2.12 million.
  • 11 different lenders are named on the 13 7(a) hotel loans in Minnesota from FY2023 to FY2025. The five with the most loans account for 53.8% of them.
  • SBA hotel lending in Minnesota peaked in FY2014 with 31 loans. FY2025 had 13.
  • FY2026 is a partial year in this release. Through June 30, 2026, SBA had approved 17 hotel loans in Minnesota.

What is counted. A loan counts toward Minnesota when SBA reports Minnesota as the project state, which is where the hotel is, not where the lender or borrower is based. Where SBA left the project state blank, the borrower state is used. Hotels means NAICS 721110, and cancelled loans are excluded. Dollar figures, averages and medians are withheld in any cell with fewer than three loans, because they would describe a single loan. The full method is on the national page. SBA loans to hotels, national figures and methodology

Minnesota against the national figures

All figures cover FY2021 to FY2025, the five most recent full SBA fiscal years. For 7(a), loan size is the full loan. For 504 it is the SBA/CDC debenture only, so the hotel project behind it is larger.

SBA hotel lending in Minnesota and the United States, FY2021 to FY2025
MeasureMinnesotaUnited States
SBA hotel loans835,298
7(a) loans373,879
504 loans461,419
504 share of loans55.4%26.8%
Gross approval, both programs$113.0 million$13.41 billion
Median 7(a) loan$800,000$2.40 million
Average 7(a) loan$1.26 million$2.58 million
Median 504 debenture$1.03 million$2.12 million
Average 504 debenture$1.44 million$2.39 million
Share of national SBA hotel loans1.6%100.0%
Share of national gross approval0.8%100.0%
Rank among states and territories, by loanstied for 21st of 53n/a

SBA hotel loans in Minnesota by fiscal year

Approvals by SBA fiscal year, which ends September 30 and is named for the year it ends in. For 504, gross approval is the SBA/CDC debenture only. "Withheld" marks a year and program with one or two loans in Minnesota.

SBA hotel loans approved in Minnesota by fiscal year, 7(a) and 504, FY2010 to FY2026Grouped bar chart. FY2010: 7(a) 6, 504 8. FY2011: 7(a) 12, 504 12. FY2012: 7(a) 5, 504 25. FY2013: 7(a) 5, 504 19. FY2014: 7(a) 8, 504 23. FY2015: 7(a) 8, 504 18. FY2016: 7(a) 2, 504 9. FY2017: 7(a) 7, 504 13. FY2018: 7(a) 7, 504 9. FY2019: 7(a) 7, 504 8. FY2020: 7(a) 6, 504 3. FY2021: 7(a) 15, 504 8. FY2022: 7(a) 9, 504 15. FY2023: 7(a) 4, 504 6. FY2024: 7(a) 6, 504 7. FY2025: 7(a) 3, 504 10. FY2026 (partial): 7(a) 9, 504 8.0510152025'10'11'12'13'14'15'16'17'18'19'2015'21'22'23'243'25'26partial7(a) loans504 loansSBA fiscal year of approval
Number of SBA loans to hotels in Minnesota by fiscal year of approval, NAICS 721110, cancelled loans excluded. FY2026 covers October 1, 2025 to June 30, 2026 only. The same counts are in the table below.
SBA hotel loan approvals in Minnesota by fiscal year and program
Fiscal year7(a) loans7(a) gross approval504 loans504 gross approvalAll SBA hotel loans
FY2026 (partial)9$22.3M8$11.0M17
FY20253$2.4M10$21.7M13
FY20246$7.1M7$9.5M13
FY20234$2.5M6$6.5M10
FY20229$17.3M15$20.4M24
FY202115$17.3M8$8.3M23
FY20206$3.5M3$1.7M9
FY20197$7.1M8$10.9M15
FY20187$6.0M9$12.7M16
FY20177$7.8M13$15.0M20
FY20162Withheld9$8.7M11
FY20158$10.2M18$15.6M26
FY20148$7.0M23$17.3M31
FY20135$5.1M19$18.7M24
FY20125$4.8M25$19.1M30
FY201112$10.8M12$10.4M24
FY20106$3.1M8$6.4M14

Top SBA hotel lenders in Minnesota, FY2023 to FY2025

Lenders and certified development companies are ranked by the number of hotel loans in Minnesota from FY2023 to FY2025, the three most recent full fiscal years, using names exactly as SBA reports them. SBA defines the 7(a) name as the bank the loan is currently assigned to. Lenders with the same count are ordered by dollars. A ranking here is a count of public records. It is not a recommendation, and Matthews Hotel Markets has no arrangement with any lender on it.

7(a) lenders with the most hotel loans in Minnesota

13 7(a) hotel loans in Minnesota from FY2023 to FY2025, from 11 different lenders. BankVista is named on the most 7(a) hotel loans in Minnesota from FY2023 to FY2025: 3.

Top 7(a) hotel lenders in Minnesota by loan count, FY2023 to FY2025
Rank7(a) lender, as SBA reports itHotel loansShare of the state's loans in this programGross approval
1BankVista323.1%$0.3M
2GBank17.7%Withheld
3Stearns Bank National Association17.7%Withheld
4Shoreham Bank17.7%Withheld
5Enterprise Bank & Trust17.7%Withheld
6First Western SBLC, LLC17.7%Withheld
7Hiawatha National Bank17.7%Withheld
821st Century Bank17.7%Withheld
9The Citizens National Bank of Park Rapids17.7%Withheld
10MY CU17.7%Withheld

504 certified development companies with the most hotel loans in Minnesota

23 504 hotel loans in Minnesota from FY2023 to FY2025, through 6 different CDCs. Midwest Business Finance Corporation is named on the most 504 hotel loans in Minnesota from FY2023 to FY2025: 13.

Top 504 CDCs for hotels in Minnesota by loan count, FY2023 to FY2025
Rank504 CDC, as SBA reports itHotel loansShare of the state's loans in this programGross approval
1Midwest Business Finance Corporation1356.5%$21.8M
2Dakota Business Finance313.0%$3.2M
3Amplio Economic Development Corporation313.0%$2.8M
4Twin Cities-Metro Certified Development Company28.7%Withheld
5Central Minnesota Development Company14.3%Withheld
6Southeastern Minnesota 504 Development Corporation14.3%Withheld

How big are SBA hotel loans in Minnesota?

Loan size by gross approval, FY2021 to FY2025. The most common 7(a) hotel loan size in Minnesota is under $350,000, with 32.4% of loans, against 5.6% nationally in the same band. 0.0% of Minnesota's 7(a) hotel loans are in the top band, at the $5 million 7(a) limit, against 12.9% nationally. Bands show loan counts only.

SBA hotel loan size distribution in Minnesota and nationally, FY2021 to FY2025
Gross approval7(a) loans in MinnesotaShare in MinnesotaShare nationally, 7(a)504 loans in MinnesotaShare in Minnesota, 504Share nationally, 504
Under $350,0001232.4%5.6%613.0%3.0%
$350,000 to $999,999718.9%11.8%1634.8%18.6%
$1.0 million to $1.99 million718.9%23.7%1328.3%25.2%
$2.0 million to $3.49 million821.6%28.7%613.0%28.6%
$3.5 million to $4.99 million38.1%17.3%36.5%16.1%
$5.0 million and over00.0%12.9%24.3%8.5%

Methodology

These figures are the Minnesota slice of our national compilation of SBA's "7(a) & 504 FOIA" loan-level files, as of June 30, 2026. The source files, the definitions, the caveats (approvals are not disbursements, NAICS codes are self-reported, lender names are not merged) and the reconciliation are on the national page, along with JSON and CSV downloads that include every state. SBA loans to hotels, national figures and methodology

Cite as

SBA's underlying loan data is a U.S. government work in the public domain. This compilation is published under CC BY 4.0. Cite SBA for the raw data and this page for the state aggregates. License: CC BY 4.0

Matthews Hotel Markets. "SBA loans to hotels in Minnesota: lenders, volume and loan sizes." https://matthewshotelmarkets.com/data/sba-hotel-lending/minnesota. SBA data as of 2026-06-30. Last updated 2026-09-18.

Sources

  1. 7(a) & 504 FOIA dataset · U.S. Small Business Administration · files as of June 30, 2026; read September 18, 2026
  2. 7(a) and 504 FOIA Data Dictionary · U.S. Small Business Administration · defines GrossApproval, LoanStatus, BankName and the other fields used here; read September 18, 2026
  3. Dataset record for SBA-OHA-2016-08-001 (license, update frequency, file list) · U.S. Small Business Administration · read September 18, 2026
  4. 7(a) loans (maximum loan amount) · U.S. Small Business Administration · read September 18, 2026

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SBA hotel lending in other states

Every state with at least 25 SBA hotel loans from FY2021 to FY2025 has a page. The number in brackets is that state's loan count for those years.