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RANK Lender # Loans $ Amount Average Loan Size 1 Frandsen Bank & Trust (MN) 53 $32,125,500 $606,142 2 First Bank & Trust (SD) 24 $32,102,800 $1,337,617 3 BankVista (MN) 97 $30,856,400 $318,107 4 The Huntington National Bank (OH) 144 $28,125,000 $195,313 5 Bremer Bank, National Association (MN) 29 $26,731,600 $921,779 6 U.S. Bank, National…

by Bob ColemanPublisher The Minnesota Expanding Opportunity Fund is Administered by the Department of Employment and Economic Development or DEED DEED’s $10 million Expanding Opportunity Fund will “support entrepreneurs who have struggled to access capital through traditional bank loans. The fund is designed to support historically under-funded small businesses operated by women, people of color,…

by Bob ColemanPublisher The nation’s largest SBA 504 lender announces key enhancements to its back room. Gregg Mitchell, Executive Vice President of Loan Operations Since joining TMC Financing in April 2020, Gregg has played a pivotal role in driving the company’s exceptional growth, resulting in a doubling of its loan volume.  Under Gregg’s leadership, TMC’s…

1 Byline Bank (IL) 99 $138,557,000 $1,399,566 2 The Huntington National Bank (OH) 534 $96,116,500 $179,993 3 Millennium Bank (IL) 13 $37,987,700 $2,922,131 4 Live Oak Banking Company (NC) 29 $35,498,500 $1,224,086 5 Village Bank and Trust, National Association (IL) 43 $29,152,400 $677,963 6 Merchants Bank of Indiana (IN) 15 $28,380,200 $1,892,013 7 Newtek Small…

by Bob Coleman Publisher Don’t count the Independent Community Bankers Association as fans of the three new SBLC licenses. Says President and CEO Rebecca Rainey: “The SBA’s decision to extend new 7(a) Small Business Lending Company licenses risks undermining this vital program and the borrowers who rely on it. “Community bank participation in the 7(a)…

by Bob ColemanPublisher Senator Shaheen replaces Maryland Senator Ben Cardin who has moved on to head the Foreign Relations Committee. That vacancy occurred when Senator Bob Menedez stepped down following his indictment on a slew of corruption charges. “As a former small business owner, I know that small businesses play a critical role in driving…