Merchants Bank, National Association
Headquartered in WINONA, MN. Analysis based on 51 SBA 7(a) loans approved between FY2020 and 2025-12-31, totaling $17.8M.
Total 7(a) loans
51
Total approved
$17.8M
Average loan
$349K
States funded in
2
Charge-off rate
0.00%
FY2020–FY2023 cohort
Paid-in-full rate
28.00%
Average rate
7.21%
Average term
125 mo
Top 10 industries financed
| NAICS | Industry | Loans |
|---|---|---|
| 722513 | Limited-Service Restaurants | 7 |
| 722515 | Snack and Nonalcoholic Beverage Bars | 4 |
| 811111 | General Automotive Repair | 3 |
| 238160 | Roofing Contractors | 2 |
| 238910 | Site Preparation Contractors | 2 |
| 238990 | All Other Specialty Trade Contractors | 2 |
| 238210 | Electrical Contractors | 2 |
| 238310 | Drywall and Insulation Contractors | 2 |
| 237130 | Power and Communication Line and Related Structures Construction | 2 |
| 713940 | Fitness and Recreational Sports Centers | 2 |
Top 10 states
| State | Loans |
|---|---|
| MN | 37 |
| WI | 14 |
Top franchise brands financed
6 franchise loans across 6 distinct brands.
| Franchise | Loans |
|---|---|
| Little Caesars | 1 |
| Jersey Mike's | 1 |
| Dehn Oil Company (Minnoco) Dea | 1 |
| Three Dog Bakery | 1 |
| Culver's ButterBurgers & Froze | 1 |
| SKATETIME | 1 |
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Data source & methodology
All figures computed from the SBA Office of Capital Access FOIA dataset (7(a) loans, FY2020–present, as of 2025-12-31). Charge-off and paid-in-full rates are calculated on the FY2020–FY2023 cohort only, so loans have had time to mature. Charge-off rank covers lenders with ≥500 mature loans.