SBA 504 Loans in Minnesota
Browse 15 lenders offering sba 504 loans in Minnesota. Compare rates, requirements, and loan programs — then connect directly.
SBA 504 Lenders in Minnesota
15 lenders offering sba 504 loans to borrowers in Minnesota.
Live Oak Banking Company
WILMINGTON, NC
One of the nation's top SBA 7(a) lenders, specializing in lending to small businesses across healthcare, veterinary, beverage, self-storage, and other industries. Offers SBA loans, USDA loans, conventional business loans, and commercial real estate financing.
The Huntington National Bank
COLUMBUS, OH
Major regional bank and consistently one of the top SBA lenders in the country by number of loans. Offers SBA 7(a) and 504 loans alongside conventional business lending, commercial real estate, and treasury management services.
U.S. Bank, National Association
Cincinnati, OH
Fifth-largest commercial bank in the U.S. and a top SBA preferred lender. Offers SBA 7(a) and 504 loans, conventional commercial lending, commercial real estate, and a full suite of business banking products.
Readycap Lending, LLC
BERKELEY HEIGHTS, NJ
Non-bank SBA preferred lender offering SBA 7(a) and 504 loans nationwide. Specializes in commercial real estate, business acquisition, and expansion financing for small businesses. Known for fast closings and flexible underwriting.
Wells Fargo Bank National Association
Sioux Falls, SD
One of the largest banks in the U.S. and a major SBA preferred lender. Offers the full range of SBA programs including 7(a) and 504 loans, alongside conventional commercial lending, commercial real estate, and equipment financing.
Byline Bank
CHICAGO, IL
Chicago-based bank and one of the top SBA 7(a) lenders in the Midwest. Provides SBA loans, commercial real estate financing, equipment loans, and government-guaranteed lending for small and mid-sized businesses.
KeyBank National Association
CLEVELAND, OH
Major regional bank and SBA preferred lender with nationwide commercial banking operations. Offers SBA 7(a) and 504 loans, conventional business lending, commercial real estate, equipment finance, and capital markets services.
WBD, Inc.
Madison, WI
Wisconsin-based Certified Development Company (CDC) specializing in SBA 504 loans. Helps small businesses in the Midwest acquire commercial real estate and equipment with long-term, fixed-rate SBA 504 financing.
East West Bank
PASADENA, CA
One of the largest independent banks focused on the U.S. and Greater China markets. Offers SBA 7(a) and 504 loans, commercial real estate, trade finance, and international banking for businesses with cross-border needs.
Minnesota Business Finance Corporation
St. Cloud, MN
St. Cloud, Minnesota-based Certified Development Company specializing in SBA 504 loans. Provides long-term, fixed-rate financing for small businesses in Minnesota to acquire real estate and equipment.
Wells Fargo
San Francisco, CA
Top commercial real estate lender. CMBS, balance sheet, agency, and SBA lending across all property types.
CDC Small Business Finance Corp.
San Diego, CA
Twin Cities-Metro Certified Development Company
Vadnais Heights, MN
Amplio Economic Development Corporation
Arden Hills, MN
Dakota Business Lending
Fargo, ND
About SBA 504 Loans in Minnesota
SBA 504 loans provide long-term, fixed-rate financing for major fixed assets like commercial real estate and heavy equipment. The loan is split between a bank (50%), a Certified Development Company (40%), and your down payment (10%), resulting in below-market rates on the CDC portion. In Minnesota, 15 lenders currently offer SBA 504 financing with loan amounts from $125K to $17M and rates typically ranging from Below market (CDC portion ~5-6%).
Minnesota Market Overview
Minnesota is home to 16 Fortune 500 companies, giving the Twin Cities metro a diversified corporate base. The state's strong healthcare, financial services, and retail sectors provide stable demand across multiple CRE asset classes.
Minnesota's non-judicial foreclosure process includes a 6-month redemption period for commercial properties (12 months for agricultural land), which extends the timeline for lenders to realize recoveries on distressed assets. The state's Fiscal Disparities program in the Twin Cities metro shares 40% of commercial-industrial tax base growth across the region, which reduces tax rate volatility for CRE investors. Minnesota's Green Acres and similar programs primarily benefit agricultural land, but the boundary between agricultural and commercial use in suburban fringe areas creates opportunities for transitional CRE development.
Who Should Consider SBA 504 Loans?
- Owner-occupied commercial real estate
- Heavy equipment purchase
- Business expansion
- New construction
Key Requirements
- For-profit business
- Net worth under $15M
- Average net income under $5M (after taxes) for prior 2 years
- 51%+ owner occupancy
- Create or retain jobs (1 per $90,000 CDC)
Pros and Cons
Advantages
- ✓Only 10% down payment
- ✓Below-market fixed rate on CDC portion
- ✓Long terms (20-25 years for RE)
- ✓No balloon payments
Considerations
- •Must be owner-occupied (51%+ for existing, 60%+ for new construction)
- •Cannot be used for working capital
- •Longer closing timeline
- •Two closings (bank + CDC)
SBA 504 Loans FAQ
What is a Certified Development Company (CDC)? ▼
Can I use SBA 504 for a rental property? ▼
How is the SBA 504 loan structured? ▼
SBA 504 Loans by City in Minnesota
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