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Bremer Bank honored for commitment to small business

“This year we are supporting and recognizing the incredible work of lenders who are utilizing SBA-backed loans to help Minnesota’s small businesses access the capital they need to drive our economy,” SBA Minnesota District Director Brian McDonald said in a news release.

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MINNEAPOLIS – Bremer Bank is among 11 lenders throughout Minnesota that will be honored at the Minnesota Lenders Conference on Sept. 15 – an event put on by the U.S. Small Business Administration’s Minnesota District.

Bremer Bank and the other lenders will be honored for their commitment to helping small businesses succeed.

“This year we are supporting and recognizing the incredible work of lenders who are utilizing SBA-backed loans to help Minnesota’s small businesses access the capital they need to drive our economy,” SBA Minnesota District Director Brian McDonald said in a news release.

“Minnesota’s lending community, totaling nearly 300 banks, credit unions and loan funds, have continued to step up in remarkable fashion serving thousands of Minnesota small businesses with SBA-back loans that are creating vibrant communities and jobs.”

The SBA’s ability to help small businesses access capital is tied to the country’s lending institutions and its partners’ ability and willingness to loan money to those struggling to get financing. To assist with this, the SBA guarantees the loans the lending institutions provide to these small businesses.

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In total, lending institutions helped Minnesota-based small businesses access 2,180 loans for over $1.2 billion in traditional 7(a) and 504 SBA-backed capital from July 1, 2021, to June 30, 2022.

Minnesota lenders being recognized at this year’s Lenders Conference as having the highest participation in traditional SBA-backed loan programs in each category are:

  • Credit Union Magnifi Financial (credit union category)
  • Vantage Bank (Banks with less than $100 million in assets)
  • BankVista (Banks with assets between $100 million and $500 million)
  • 21st Century Bank (Banks with assets from $500 million to $1 billion)
  • Bremer Bank (Banks with assets over $1 billion)
  • U.S. Bank, National Association (National lender category)
  • Minnwest Bank (export lender category)
  • Amplio (Job creation category)
  • MBFC (Loan volume)
  • Entrepreneur Fund (Microlender category)
  • African Development Center (Minnesota District Director Award)

The awards are based on each lender’s number of SBA-guaranteed approved loans in Minnesota from July 1, 2021, to June 30, 2022.

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