SBAPULSE

Merchants Bank NA

Headquartered in WINONA, MN

Compare interactively in the Lender Explorer.

7(a) Lending

Gross approval amounts

FY2026 Volume

$3.0M

#580 by FY2026 volume

FY2026 Loans

9

$332K avg size

FY2022–FY2026 Volume

$16.6M

FY2022–FY2026 Loans

49

Annual Trend

Approval volume (bars) and loan count (line)

Volume (left axis)Loans (right axis)

Geographic Footprint

Approval volume by project state, FY2026

Low
High

Activity by State

2 states, districts, and territories with activity

#
1MN6$2.5M$420K
2WI3$0.5M$157K

504 Third Party Lending

First mortgage amounts committed alongside 504 debentures

FY2026 Volume

$8.1M

#256 by FY2026 volume

FY2026 Loans

5

$1.6M avg size

FY2022–FY2026 Volume

$35.1M

FY2022–FY2026 Loans

27

Annual Trend

Approval volume (bars) and loan count (line)

Volume (left axis)Loans (right axis)

Geographic Footprint

Approval volume by project state, FY2026

Low
High

Activity by State

1 state, districts, and territories with activity

#
1MN5$8.1M$1.6M

Source: SBA lender activity reports, data as of Sep 30, 2026. Historical years reflect fiscal year-end figures and are not restated for subsequent acquisitions or mergers. See data sources & methodology.