SBA lending data · fiscal year 2025
15 lenders funded plumbing, heating, and air-conditioning contractors in Minnesota last year
32 SBA 7(a) loans approved under NAICS 238220. Median approval $88,450, median term 120 months, median initial rate 10%.
What was actually approved
Half of all approvals in this industry and state fell between $28,750 and $218,750. A request well outside that band is not impossible — it draws more scrutiny on collateral and management experience.
The most active lenders
Ranked by how many loans each actually approved in this industry and state — not by advertising spend. A lender that has written twenty of these already knows the questions to ask.
- 1U.S. Bank, National Association7 loans · $1.3M
- 2The Huntington National Bank7 loans · $0.3M
- 3Falcon National Bank3 loans · $4.2M
- 4First National Community Bank2 loans · $0.1M
- 5Bridgewater Bank2 loans · $0.3M
- 6First Resource Bank2 loans · $0.5M
- 7Readycap Lending, LLC1 loan · $0.4M
- 8Pine River State Bank1 loan · $0.2M
- 9Minnwest Bank1 loan · $0.9M
- 10BankVista1 loan · $0.1M
- 11Northeast Bank1 loan · $0M
- 12Newtek Bank, National Association1 loan · $0.1M
This list is not a recommendation and these lenders have no relationship with this site. It reports approvals recorded in U.S. Small Business Administration, FOIA 7(a) and 504 loan approval data (data.sba.gov), fiscal year 2025, as of 2026-06-30.
Is this industry getting easier or harder to finance?
| Fiscal year | Loans | Lenders | Median approval |
|---|---|---|---|
| FY2023 | 20 | 10 | $100,000 |
| FY2024 | 25 | 14 | $150,000 |
| FY2025 | 32 | 15 | $88,450 |
Only completed fiscal years are shown. The SBA fiscal year ends 30 September; a partial year compared against full ones makes any industry look like it is closing.
Where this comes from
The SBA publishes every approved 7(a) and 504 loan under FOIA: the lender, the borrower's state, the industry code, the amount, the term and the initial rate. We indexed 4 fiscal years of it, alongside Census and BLS data. Figures on this page are as published on 2026-06-30.
This page reports approvals. It says nothing about how many applications were declined, and it is not a prediction about yours. This site is not affiliated with, endorsed by, or approved by the U.S. Small Business Administration.
Other industries in Minnesota
- Full-Service Restaurants · 64 loans
- Limited-Service Restaurants · 54 loans
- Residential Remodelers · 41 loans
- Fitness and Recreational Sports Centers · 40 loans
- Offices of Chiropractors · 39 loans
- All Other Specialty Trade Contractors · 36 loans
- Home Health Care Services · 34 loans
- Clothing and Clothing Accessories Retailers · 32 loans
Plumbing, Heating, and Air-Conditioning Contractors in other states
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