# Frandsen Bank & Trust

Upper Midwest Preferred Lender, acquisition named.

A family-owned bank across nearly forty communities in Minnesota, North Dakota, South Dakota and Wisconsin, an SBA Preferred Lender with an in-house SBA department since 2016 whose SBA page puts business acquisition first in its list of uses and whose named SBA division manager lists acquisition as a specialty.

- Category: SBA & Acquisition Lenders
- Pricing model: Custom Pricing
- Where it fits: Diligence & Close the Deal
- Website: https://www.frandsenbank.com/business/loans/small-business-administration

## At a Glance

A four-state bank that puts acquisition first in its SBA page's list of uses and names the people behind the desk, which is more than most regional lenders publish.

## What It Costs

Loan products; terms by term sheet. No loan size, rate or fee is published; one of its six worked examples is a purchase financed with ten percent cash, a ten percent seller note and a 7(a) loan (per frandsenbank.com, September 2026).

## Best For

A buyer of a business in Minnesota or its three neighbors who wants an in-house SBA desk with a named manager and acquisition on its product page

## Pros and Cons

- Pro: Puts business acquisition first in its SBA page's list of uses and describes a purchase it financed with a [seller note](https://searchspheresource.com/glossary/seller-note) beside the loan
- Pro: An in-house SBA department since 2016 with a named division manager and lender, by its own pages
- Pro: [Preferred Lender](https://searchspheresource.com/glossary/preferred-lender-program) status stated on its product page and in its footnote
- Pro: Minnesota's top large-bank SBA lender four years running, by its own news page
- Con: Publishes no loan size, no rate and no fee
- Con: Its footprint is four states with no city named as headquarters, and every product block ends in finding a banker rather than an application
- Con: Names no [search fund](https://searchspheresource.com/glossary/search-fund), [searcher](https://searchspheresource.com/glossary/searcher) or acquisition entrepreneur

## What Searchers Say

Read on its SBA page, its Preferred Lender article, its news, its about page and three banker profiles. The award count drifts between three and four years across pages. No searcher-forum discussion of the desk was found.

## Sources

- https://www.frandsenbank.com/business/loans/small-business-administration
- https://www.frandsenbank.com/articles/why-you-should-work-with-a-sba-preferred-lender
- https://www.frandsenbank.com/about-us
- https://www.frandsenbank.com/professionals/dennis-welch
- https://www.frandsenbank.com/news/sba-large-lender-2025

Also on this site: https://searchspheresource.com/resources/category/lender.md
Source: https://searchspheresource.com/resources/frandsen-bank
Last checked: 2026-09-18

Site index for machines: https://searchspheresource.com/llms.txt