Feasibility Study Data for the Mankato, MN Metro Area

Mankato: what the area shows

Mankato, MN is a metropolitan area, and its 332 SBA approvals in FY2017 to FY2026 carried $147.5 million in gross dollars. Mankato counts as a mid-table area, ranked 225 of 928 by loans. Mankato is read whole in Mankato, MN, every class counted. A slice of MN is not how Mankato is treated.

Mankato: half of loans run $60,000 to $409,200, around a median of $165,500. Mankato sits below the national level, at 0.80x the national median, so a Mankato study should size its request from Mankato approvals. Mankato counts 268 loans under 7(a) and 64 under 504, so 7(a) carries the Mankato mix. 8.4% of Mankato loans went to franchised businesses, so a Mankato study names the brand, if any, for Mankato.

Classes, counties and lenders in Mankato

Full-service restaurant (14 loans); child care center (14 loans); fitness center (11 loans); limited-service restaurant (9 loans) lead the tracked classes in Mankato. 239 Mankato loans sit outside the tracked classes, so Mankato operating businesses show up in these totals. Mankato's busiest counties are Blue Earth County, MN with 247 and Nicollet County, MN with 85, so a Mankato project's boundary matters when Mankato borrowers cite area-wide figures. Mankato 7(a) lending is led by 44 loans at BankVista ($17.1 million); 42 loans at Minnstar Bank National Association ($4.1 million); 26 loans at Pioneer Bank (MN) ($8.9 million). Mankato 504 lending is led by 32 loans at Midwest Business Finance Corporation ($27.4 million). BankVista's 44 loans, like every Mankato lender figure, are an SBA record of Mankato loans held or once held. No Mankato lender is judged by these counts.

Mankato ended FY2026 at 18 loans, lower than FY2017's 42; the peak came in FY2018 (45 loans, $17.8 million) and the low in FY2024 (17). Mankato cancellations stand at 8.2%, a floor, for Mankato approvals in FY2017 to FY2024; Mankato's ceiling is withheld by Loan Analytics and is not zero. Mankato has 332 loans in all, but its charge-off cohort is too small to print a floor; Loan Analytics withholds the Mankato value; it is not zero. Mankato faces a geography limit: Mankato, MN uses the July 2023 definition; 332 loans are matched by county, and unplaceable Mankato loans are omitted, so Mankato counts and rates are floors.

Mankato: the study questions

Any Mankato study defines its Mankato trade area first, since lending in Blue Earth County, MN differs from lending across Mankato, MN. If a Mankato concept resembles full-service restaurant, Mankato offers size and lender precedent; other Mankato concepts must rest on their own Mankato evidence. Mankato quotes should price construction and equipment. Then Mankato debt service coverage is tested at $165,500, and again at $409,200. Mankato is metropolitan; a Mankato appraisal belongs in one submarket, not behind Mankato averages. Nothing printed for Mankato predicts approval; each Mankato lender still reviews a study.