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Eleven Minnesota Lenders to be Recognized for their Commitment to Small Business Success

SBA will present awards at upcoming lenders conference
Release Date: 
Thursday, September 2, 2021
Release Number: 
21.8.MN
Contact: 
sarah.swenty@sba.gov

MINNEAPOLIS – At its SBA Minnesota Lenders Conference on September 9, 2021, the U.S. Small Business Administration’s Minnesota District will honor 11 lenders throughout the state for their commitment to helping small businesses succeed. 

“Every year we recognize lenders that are helping Minnesota’s over 530,000 small businesses access the capital they need to drive our economy, and the efforts they made in the last year truly went above and beyond,” said SBA Minnesota District Director Brian McDonald. “During the pandemic, Minnesota’s lending community, totaling nearly 300 banks, credit unions and loan funds, have been working late at night and through weekends and holidays, and their efforts helped save thousands of Minnesota small businesses and the jobs they support.”

The SBA’s ability to help small businesses access capital is tied to the country’s lending institutions and its partners’ ability and willingness to loan money to those struggling to get financing. To assist with this, the SBA guarantees the loans the lending institutions provide to these small businesses. In total, lending institutions helped 2,209 Minnesota-based small businesses access $1,009,831,000 in traditional 7(a) and 504 SBA-backed capital from July 1, 2020, to June 30, 2021.

Minnesota lenders being recognized at this year’s Lenders Conference as having the highest participation in traditional SBA-backed loan programs in each category are:

 

Credit Union                                                                                         Central Minnesota Credit Union

Lender with <$100MM in assets                                                Vantage Bank

Lender with $100MM > $500MM in assets                             BankVista

Lender with $500MM > $1B in assets                                      21st Century Bank

Lender with > $1B in assets                                                         Sunrise Banks, N.A.

National Lender                                                                                 U.S. Bank, N.A.

Export Lender                                                                                     Minnwest Bank

Certified Development Company (Job Creation)             Amplio

Certified Development Company (Loan Volume)             Minnesota Business Finance Corporation

Microlender of the Year                                                                  Entrepreneur Fund

District Director Award                                                                  Community Reinvestment Fund, USA

The awards are based on each lender’s number of SBA-guaranteed approved loans in Minnesota from July 1, 2020, to June 30, 2021.  

 

SBA-backed loans are proven tools lenders can use to help small businesses grow while reducing their own risks. The SBA’s Minnesota Lenders Conference, which will take place at the Marriott Northwest in Brooklyn Park on September 9, 2021, will provide lenders and lending adjacent professionals training on how to maximize those tools while networking with peers, SBA staff and industry experts. For more information and to register, visit https://tinyurl.com/xyr3hupc.

 


 

About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.