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Frandsen Bank and Trust

Headquartered in Lonsdale, MNfrandsenbank.com$3.7B in assetsFounded 190140 officesData: SBA 7(a) FOIA file

Loans
20

#103 of 249 by loans, FY2025 to FY2026 Q3

Approved
$14M

gross approvals

Median deal
$629,000

national $709,300

Median rate
9.50%

national 9.25% at approval

Loans per fiscal year

FY2026 is partial: 8 loans approved through June 30, 2026.

Loans per fiscal year
Fiscal yearLoans
FY20208
FY202115
FY202216
FY202313
FY202410
FY202512
FY2026 (partial year, through June 30, 2026)8

How they lend

Across 20 change-of-ownership loans, FY2025 to FY2026 Q3.

Acquisition share of their 7(a) lending

Acquisitions 82 (24.3%)Other purposes 256 (75.7%)

Their full 7(a) book since FY2020 is 338 loans. Every other figure on this page counts the 82 acquisition loans only.

Initial rate structure

Variable 100.00%Fixed 0.00%

Middle half of rates
9.00% to 10.00%
Typical margin over Prime
Prime + 2.25% at approval (20 variable loans)
Median term
120 months
Collateral reported
100.00% of loans
Sold on the secondary market
60.00% of loans
Franchise loans
20.00% of loans
Approval to first disbursement
6 days (n = 18)

Processing method

Preferred Lenders Program
90.00%
7a General
5.00%
SBA Express Program
5.00%

SBA processing-method labels as they appear in the loan file, as shares of this lender’s window loans.

What they fund

Industries and deal sizes across 20 change-of-ownership loans, FY2025 to FY2026 Q3.

Top industries

Health Care and Social Assistance
25.00%
Retail Trade
20.00%
Accommodation and Food Services
15.00%
Administrative and Support and Waste Management and Remediation Services
10.00%
Other Services (except Public Administration)
10.00%

Deal size mix

Under $350K 30.00%$350K to $1M 50.00%$1M to $3.5M 20.00%$3.5M+ 0.00%

Sectors from each loan’s NAICS code; deal sizes from gross approval amounts. Window loans only.

Where they lend

Top states by this lender’s change-of-ownership loans, FY2025 to FY2026 Q3.

Grouped by ProjectState. State names link to the state lender pages where one exists.

Run a deal at these rates

The deal analyzer prices an acquisition with current SBA terms and shows whether the numbers cover the debt.

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Every 7(a) acquisition lender in the country, searchable and sortable, with loan counts, medians, and rates.

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Source: SBA 7(a) FOIA file, change-of-ownership loans for Frandsen Bank and Trust. Window stats cover FY2025 to FY2026 Q3, as of June 30, 2026, and refresh with each quarterly cut. Rates and rate quartiles are the rates at approval. Website, headquarters, assets, founding year, and office count come from the FDIC BankFind Suite API and, for credit unions, the NCUA Credit Union Locator (public US government data). Methodology. See an error? Email us and we will correct it.