Buying a Business in Minnesota
The Numbers
FY2025 Acquisition Loans
212
$169M approved
Median Loan
$475k
FY2020 through FY2025
Loans Since FY2020
1,382
$1.11B in total approvals
Share of U.S. Activity
3.9%
Of change-of-ownership loans
What the Data Says
Minnesota ranks 6th of 53 states and territories for change-of-ownership SBA 7(a) lending: 1,382 loans since FY2020, 4% of the national total.
The typical deal runs small: its $475k median loan sits below the $650k midpoint across states, within reach on less equity.
Activity is steady, near the state's ~230 a year pace since FY2020.
The most-financed target is offices of chiropractors (50 loans), and the 5 most active lenders wrote about 42% of the state's acquisitions, a broad lender field.
Most Active Acquisition Lenders in Minnesota
- 1. BankVista243 loans
- 2. Old National Bank151 loans
- 3. Frandsen Bank and Trust66 loans
- 4. The Huntington National Bank64 loans
- 5. Village Bank57 loans
A lender being active in Minnesota does not require a local branch; several top SBA lenders work nationally. Build a shortlist with Lenders.
What Gets Bought in Minnesota
- Offices of Chiropractors50 loans
- Full-Service Restaurants46 loans
- Limited-Service Restaurants44 loans
- All Other Specialty Trade Contractors39 loans
- Couriers and Express Delivery Services36 loans
Industry-specific pricing and diligence live in the Guides. How many buyable businesses Minnesota holds in each trade is in Where the Businesses Are.
Method & Source
Computed from the SBA 7(a) FOIA loan-level dataset (FY2020 through FY2025), filtered to approvals flagged change of ownership with a Minnesota project address. Approvals, not closings; excludes conventional and 504 financing.