What SBA's files say about Owatonna

Between FY2017 and FY2026, SBA approved 100 loans for projects in Owatonna, totalling $29.6 million of gross approvals. Owatonna lands among all such areas nationwide, on volume, as 467 of 928. Half of Owatonna loans, the middle ones, sits between $48,750 and $350,000, beside a median of $150,000; so the median stands at 0.72x the national median. Split by program, Owatonna shows 91 loans under 7(a) against 9 in 504. Franchised units took 5.0% of the record.

Owatonna: who and where

Besides, of the tracked classes we count for Owatonna, automotive mechanical repair is largest with 9 loans. A further 76 loans in Owatonna belong to no named class. Also, all the lending in Owatonna falls in Steele County, MN, at 100 loans, so a study at a site here a single-county exercise.

Owatonna: holders of record

Lenders shown for Owatonna come from SBA's official Owatonna records of the 100 approved loans in Owatonna, whoever holds or held them; the records locate each position and imply no view of lender standards. Notably, on the 7(a) side around Steele County, MN, the top names are United Prairie Bank, with 18 loans for $2.7 million; next, U.S. Bank, National Association (12 loans, $2.3 million). A Owatonna borrower should ask the Owatonna lender United Prairie Bank or other Owatonna holders near Steele County, MN what evidence it wants, then shape the Owatonna study to satisfy those requests.

Owatonna: loss floors and years

Looking at Owatonna approvals from FY2017 to FY2024, at least 12.9% were cancelled after approval in Owatonna, and that is a floor; the true Owatonna rate may be higher. Also, a charge-off rate for Steele County, MN is not given in this table, as too few Owatonna loans reached disbursement. That blank, around Steele County, MN, must never be read as a clean record. Besides, in the yearly line, Owatonna was strongest in FY2020 at 21 loans and $4.8 million, and bottomed out in FY2022 at 7 loans and $901,000. Worth noting, some years in the Owatonna line are withheld since they have too few loans; in the table they stay empty, never zero.

Owatonna: what a study proves

For Owatonna, begin with demand: who passes in Steele County, MN, who visits from nearby, set against Owatonna overall, and what gap the 9 automotive mechanical repair loans leave. Budget: $150,000 is the Owatonna median and $48,750 to $350,000 the middle band, so a Steele County, MN site must price itself against this $150,000 midpoint. Then coverage: Owatonna coverage withstands a soft year against the 12.9% cancellation rate and charge-off rate for Owatonna, which is also omitted because too few loans support it. An appraisal in Owatonna has to support the worth lent against. Owatonna applies the 2023 July definition; an approval whose listed county is unmapped appears in none of every area, Owatonna included, whereas the totals include loans apart from the listed classes.

SBA loans in the Owatonna, MN Micro Area

Loans approved, FY2017 to FY2026	100
Gross dollars approved	$29.6 million
Median loan	$150,000
Middle half of loans, from	$48,750
Middle half of loans, to	$350,000
SBA 7(a) loans	91
SBA 504 loans	9
Franchise share of loans	5.0%
Rank among metro and micro areas by loans	467 of 928
Median loan against the national median	0.72x

Cancellation and charge-off

Cancelled after approval, FY2017 to FY2024 approvals (a floor)	12.9%
The same, counting loans still undisbursed as cancelled (a ceiling)	withheld
Charged off to date, FY2017 to FY2021 disbursed loans (a floor)	withheld

Both rates are floors. SBA withholds the status of open loans, so a loan counts as charged off only once SBA reports it; a rate needs at least 30 loans in its cohort and is otherwise not reported.

SBA loans approved in the Owatonna, MN Micro Area, by fiscal year

Fiscal year	Loans	Dollars
FY2017	10	$4.7 million
FY2018	11	$3.2 million
FY2019	9	$3.0 million
FY2020	21	$4.8 million
FY2021	16	$5.8 million
FY2022	7	$901,000
FY2023	9	$2.1 million
FY2024	10	$2.2 million
FY2025	withheld	withheld
FY2026	withheld	withheld

Loans by asset class

Asset class	Loans
Not in any of the 39 asset classes	76
Automotive mechanical repair (car and truck)	9

Classes with 5 or more loans; smaller ones are withheld, and more where a small one could be derived.

Most active SBA lenders

SBA 7(a): lenders by loans approved (the current holder of each loan, as SBA reports it)
Lender	Loans	Dollars
United Prairie Bank	18	$2.7 million
U.S. Bank, National Association	12	$2.3 million
Community Bank Owatonna	11	$975,000
Old National Bank	9	$4.4 million
Wells Fargo Bank National Association	7	$2.2 million

Lenders with 5 or more loans here; a lender with fewer is not listed, and loans SBA or a receiver holds are counted but never listed as a lender.

Where the loans are, by county

County	Loans
Steele County, MN	100

Counties with 5 or more loans; smaller ones are not listed.

Metro is the CBSA (metropolitan or micropolitan statistical area) of the loan's project county, July 2023 delineation (OMB Bulletin 23-01). The county is matched by name (manifests/ld2/county-cbsa-map.csv); a loan whose county cannot be placed in a 2023 CBSA is left out of every metro.

All assets: every 7(a) and 504 approval in the metro, including those outside the 39 asset classes.

A value marked withheld rests on fewer than 5 loans, or is withheld so that such a figure cannot be derived from other published figures.

Source: U.S. Small Business Administration, 7(a) and 504 loan-level FOIA files (data.sba.gov), as of 2026-09-30; areas from the U.S. Census Bureau CBSA delineation, July 2023 (OMB Bulletin 23-01); Loan Analytics metro cell MT-36940.

Related feasibility study pages

Loan Analytics prepares the feasibility study a lender reads before it commits: for a commercial project in the Owatonna, MN Micro Area, financed under SBA 7(a), SBA 504, USDA Business and Industry or a conventional bank loan. Tell us the project and the lender's deadline, and we reply with scope, timeline and fee.

Daniel Smith, MAI

Feasibility Study Data for the Owatonna, MN Micro Area