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

SBA will present awards at upcoming lenders conference
Release Date: 
Thursday, August 15, 2019
Release Number: 
19.13.MN
Contact: 
Sarah.Swenty@SBA.GOV

MINNEAPOLIS – The U.S. Small Business Administration’s Minnesota District will honor 12 lenders throughout the state for their commitment to helping small businesses succeed at its Seventh Annual SBA Lenders Conference on September 13, 2019.

“We know that without capital small businesses struggle to survive,” pointed out SBA Minnesota District Director Nancy Libersky. “This is why we work so hard to ensure the funding tap doesn’t run dry. But we can’t do it alone. Using SBA loan programs, these organizations are helping small businesses succeed every day and it’s wonderful to be able to honor their efforts supporting our state’s economy.”

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. The SBA doesn’t lend the money directly to entrepreneurs to start or grow a business but sets the guidelines for loans made by its partners (lenders, community development organizations and micro-lending institutions). SBA loan programs help eliminate some of the risk to lending partners.

The 2019 Minnesota lenders being recognized as having the highest participation in SBA-backed loan programs in each category are:

Credit Union                                                                 Members Cooperative Credit Union

Lender with <$100MM in assets                                 Maple Bank

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

Lender with $500MM > $1B in assets                        Highland Bank

Lender with > $1B in assets                                       Sunrise Banks, National Association

National Lender                                                           U.S. Bank, National Association

Export Lender                                                              Platinum Bank

Certified Development Company (Job Creation)     SPEDCO

Certified Development Company (Loan Volume)     Minnesota Business Finance Corp.

Rural Lender                                                                 Northeast Entrepreneur Fund

Emerging Microlender                                                 Northwest Minnesota Foundation

District Director Award                                                Minnesota Bankers Association

The awards are based on each lender’s number of SBA-guaranteed approved loans in Minnesota from July 1, 2018, to June 30, 2019.  

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 13, 2019, 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://conta.cc/2Yvx61X.

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