Minnesota SBA 7(a) Lender Rankings for 2023

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…

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Minnesota’s New $10 Million Small Business Loan Fund Seeks Non-Profit Lending Partners

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,…

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TMC Financing Promotes Gregg Mitchell, Adds LaKisha Gant

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…

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Illinois SBA 7(a) Lender Rankings for FY 2023

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…

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Idaho SBA 7(a) Lender Rankings for FY 2023

1 Idaho Central CU (ID) 38 $26,762,000 $704,263 2 Umpqua Bank (OR) 18 $14,607,900 $811,550 3 Live Oak Banking Company (NC) 8 $12,223,000 $1,527,875 4 Mountain America FCU (UT) 22 $11,064,900 $502,950 5 Zions Bank, A Division of (UT) 43 $9,638,400 $224,149 6 Bank of Idaho (ID) 16 $9,238,000 $577,375 7 Washington Trust Bank (WA)…

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ICBA Says No to New SBLC Licenses

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)…

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New Hampshire Senator Jeanne Shaheen Chairs Senate Small Business Committee

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…

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Credit Reporting – S&L Newsletter

Whenever a business applies for a loan, lenders use business credit reports to assess the business’screditworthiness. Business credit reports are used when businesses apply for a business loan, establish payment terms with a new vendor, or obtain a form of business credit. These reports come from three primary commercial credit reporting agencies: Dun & Bradstreet,…

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Hawaii SBA 7(a) Lender Rankings for FY 2023

RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 7 $7,160,000 $1,022,857 2 Central Pacific Bank (HI) 91 $7,070,000 $77,692 3 Newtek Small Business Finance, Inc. (NY) 8 $6,005,000 $750,625 4 Byline Bank (IL) 3 $4,281,000 $1,427,000 5 Commonwealth Business Bank (CA) 1 $3,731,000 $3,731,000 6 PCB Bank (CA)…

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