| $150,000–350,000 | LATVALA LUMBER CO. | GRAND RAPIDS, MN | Frandsen Bank & Trust |
| $150,000–350,000 | LESUEUR COUNTY DEVELOPMENTAL SERVICES, INC. | WATERVILLE, MN | Frandsen Bank & Trust |
| $350,000–1 million | LOEFFLER CONSTRUCTION CONSULTING, LLC | LAKEVILLE, MN | Frandsen Bank & Trust |
| $150,000–350,000 | LONSDALE TOOL & MANUFACTURING, INC. | LONSDALE, MN | Frandsen Bank & Trust |
| $350,000–1 million | LOUIS LEUSTEK & SONS, INC. | ELY, MN | Frandsen Bank & Trust |
| $150,000–350,000 | M & J TRUCKING CO., LLC | LAKEVILLE, MN | Frandsen Bank & Trust |
| $150,000–350,000 | M. AMUNDSON CIGAR AND CANDY COMPANY, LLP | MINNEAPOLIS, MN | Frandsen Bank & Trust |
| $1–2 million | M.R. PAVING AND EXCAVATING, INC. | NEW ULM, MN | Frandsen Bank & Trust |
| $350,000–1 million | MATT SAXE CHEVROLET-BUICK, INC. | BELLE PLAINE, MN | Frandsen Bank & Trust |
| $150,000–350,000 | MEGA STOP, INC. | LAKEVILLE, MN | Frandsen Bank & Trust |
| $150,000–350,000 | METRO FIRST CALL L.L.C. | SAVAGE, MN | Frandsen Bank & Trust |
| $350,000–1 million | MIDWEST SLEEP LLC | TOLEDO, IA | Frandsen Bank & Trust |
| $1–2 million | MILLER SELLNER IMPLEMENT, INC. | SLEEPY EYE, MN | Frandsen Bank & Trust |
| $150,000–350,000 | MILLERSBERG CONSTRUCTION LLX | NORTHFIELD, MN | Frandsen Bank & Trust |
| $350,000–1 million | MINNESOTA MILLWORK AND FIXTURES LLC | LONSDALE, MN | Frandsen Bank & Trust |
| $150,000–350,000 | MINNESOTA VALLEY PET HOSPITAL PA | MANKATO, MN | Frandsen Bank & Trust |
| $150,000–350,000 | MLASKOCH EXCAVATING & CONTRACTING, INC. | WILLOW RIVER, MN | Frandsen Bank & Trust |
| $350,000–1 million | MONSTER GAMES, INC. | NORTHFIELD, MN | Frandsen Bank & Trust |
| $350,000–1 million | MYLES LORENTZ, INC. | SAINT PETER, MN | Frandsen Bank & Trust |
| $350,000–1 million | NATIONAL QUALITY INSPECTIONS, INC. | BOZEMAN, MT | Frandsen Bank & Trust |
| $150,000–350,000 | NATIONAL RENEWABLE SOLUTIONS, LLC | MINNETONKA, MN | Frandsen Bank & Trust |
| $350,000–1 million | NDBC ADMINISTRATIVE SERVICE, LLC | MINNEAPOLIS, MN | Frandsen Bank & Trust |
| $150,000–350,000 | NELSON WILLIAMS LININGS, INC. | MOUNTAIN IRON, MN | Frandsen Bank & Trust |
| $350,000–1 million | NEW KINGDOM PEDIATRICS, LLC | EDEN PRAIRIE, MN | Frandsen Bank & Trust |
| $150,000–350,000 | NORDIC UNDERWATER SERVICES, INC. | DULUTH, MN | Frandsen Bank & Trust |
| $350,000–1 million | NORTHERN ENGINE & SUPPLY CO. | DULUTH, MN | Frandsen Bank & Trust |
| $350,000–1 million | NORTHERN GOPHER ENTERPRISES, INC. | LAKEVILLE, MN | Frandsen Bank & Trust |
| $150,000–350,000 | NORTHLAND FOODS OF MINNESOTA, INC. | POPLAR, WI | Frandsen Bank & Trust |
| $150,000–350,000 | NORTHLAND MACHINE, INC. | GRAND RAPIDS, MN | Frandsen Bank & Trust |
| $150,000–350,000 | NOSBUSH DAIRY, LLP | FAIRFAX, MN | Frandsen Bank & Trust |
| $150,000–350,000 | OCI HIGHLANDS RANCH, LLC | LITTLETON, CO | Frandsen Bank & Trust |
| $350,000–1 million | OPEN DOOR HEALTH CENTER | MANKATO, MN | Frandsen Bank & Trust |
| $2–5 million | ORTONVILLE AREA HEALTH SERVICES | ORTONVILLE, MN | Frandsen Bank & Trust |
| $1–2 million | PAAPE DISTRIBUTING COMPANY | MANKATO, MN | Frandsen Bank & Trust |
| $350,000–1 million | PALUBICKI'S, INC. | FOSSTON, MN | Frandsen Bank & Trust |
| $150,000–350,000 | PAT HOLMES ENTERPRISE INC | MANKATO, MN | Frandsen Bank & Trust |
| $350,000–1 million | PATZOLDT CONCRETE & MASONRY L.L.C. | PINE CITY, MN | Frandsen Bank & Trust |
| $150,000–350,000 | PAULSON BROS. PROPERTIES, LLC (EPC); PAULSON BROS. WOODWORX, INC. (OC) | SAVAGE, MN | Frandsen Bank & Trust |
| $5–10 million | PDG, PA | SAINT PAUL, MN | Frandsen Bank & Trust |
| $1–2 million | PDR ADMINISTRATIVE SERVICES, INC. | MINNEAPOLIS, MN | Frandsen Bank & Trust |
| $150,000–350,000 | PETERSON VETERINARY CLINIC, P.C. | EAST GRAND FORKS, MN | Frandsen Bank & Trust |
| $150,000–350,000 | PIRAGIS NORTHWOODS COMPANY | ELY, MN | Frandsen Bank & Trust |
| $150,000–350,000 | PRAIRIE DENTAL CENTERS, P.A. | ADA, MN | Frandsen Bank & Trust |
| $350,000–1 million | PRECISION HARDSCAPES, INC. | BRAHAM, MN | Frandsen Bank & Trust |
| $150,000–350,000 | PREFER PAVING, INC. | RUSH CITY, MN | Frandsen Bank & Trust |
| $1–2 million | PROGRESSIVE BUILDING SYSTEMS, LTD. | SAINT MICHAEL, MN | Frandsen Bank & Trust |
| $150,000–350,000 | R & J BROADCASTING, INC. | ADA, MN | Frandsen Bank & Trust |
| $150,000–350,000 | RADERMACHER FOODS OF LE SUEUR, INC. | LE SUEUR, MN | Frandsen Bank & Trust |
| $150,000–350,000 | RADERMACHER FOODS, INC. | JORDAN, MN | Frandsen Bank & Trust |
| $1–2 million | RANGE MENTAL HEALTH CENTER, INC. | VIRGINIA, MN | Frandsen Bank & Trust |
| $350,000–1 million | RAY RIIHILUOMA, INC. | CLOQUET, MN | Frandsen Bank & Trust |
| $350,000–1 million | RAYVEN, INC. | SAINT PAUL, MN | Frandsen Bank & Trust |
| $150,000–350,000 | RAZOR EDGE SYSTEMS, INC. | ELY, MN | Frandsen Bank & Trust |
| $150,000–350,000 | RENVILLE COUNTY COMMUNITY RESIDENCE INC. | BIRD ISLAND, MN | Frandsen Bank & Trust |
| $150,000–350,000 | RESTORATION SERVICES OF MINNES | ASKOV, MN | Frandsen Bank & Trust |
| $150,000–350,000 | RIVER CITY BUILDERS & MILLWORKS, INC. | NERSTRAND, MN | Frandsen Bank & Trust |
| $150,000–350,000 | ROBERT W. ANDERSON O.D. AND ANTHONY M. MCDONALD O.D. LTD. | LAKEVILLE, MN | Frandsen Bank & Trust |
| $150,000–350,000 | RON'S PLUMBING HVAC & ELECTRIC INC. | WELLS, MN | Frandsen Bank & Trust |
| $1–2 million | RURAL COMPUTER CONSULTANTS, INC. | BIRD ISLAND, MN | Frandsen Bank & Trust |
| $150,000–350,000 | S & S MOTORS, INC. | COURTLAND, MN | Frandsen Bank & Trust |
| $150,000–350,000 | SAGINAW POWER & AUTOMATION LLC | SAGINAW, MN | Frandsen Bank & Trust |
| $1–2 million | SCHAFFER SPECIALTY WELDING, INC. | MILLTOWN, WI | Frandsen Bank & Trust |
| $150,000–350,000 | SEAFOOD MARKETS, LTD. | BRAINERD, MN | Frandsen Bank & Trust |
| $150,000–350,000 | SEPPI BROTHERS CONCRETE PRODUCTS CORPORATION | VIRGINIA, MN | Frandsen Bank & Trust |
| $350,000–1 million | SILT SOCK, INC. | FOLEY, MN | Frandsen Bank & Trust |
| $150,000–350,000 | SIMCO ELECTRIC, LLC | DULUTH, MN | Frandsen Bank & Trust |
| $350,000–1 million | SIOUX TRAILS MENTAL HEALTH CENTER, INC. | NEW ULM, MN | Frandsen Bank & Trust |
| $350,000–1 million | SJOBERG CONCRETE, INC. | APPLE VALLEY, MN | Frandsen Bank & Trust |
| $150,000–350,000 | SKOGEN MECHANICAL LLC | MANKATO, MN | Frandsen Bank & Trust |
| $150,000–350,000 | SMART EXPRESS INC. | MINNEAPOLIS, MN | Frandsen Bank & Trust |
| $150,000–350,000 | SMR MANAGEMENT, INC. | MANKATO, MN | Frandsen Bank & Trust |
| $2–5 million | SOUTH CENTRAL COOP | SLEEPY EYE, MN | Frandsen Bank & Trust |
| $350,000–1 million | SPEC 7 GROUP, LLC | ANDOVER, MN | Frandsen Bank & Trust |
| $150,000–350,000 | SPRING LAKE PARK LUMBER CO. | MINNEAPOLIS, MN | Frandsen Bank & Trust |
| $150,000–350,000 | ST PAUL'S EVANGELICAL LUTHERAN CHURCH (WELS) | MANKATO, MN | Frandsen Bank & Trust |
| $350,000–1 million | STRUCTURAL BUILDINGS OF MINNESOTA, INC. | BECKER, MN | Frandsen Bank & Trust |
| $150,000–350,000 | STRUCTURAL TOWER SERVICES, INC. | BECKER, MN | Frandsen Bank & Trust |
| $150,000–350,000 | SUNDELL EYE ASSOCIATES, P.A. | VIRGINIA, MN | Frandsen Bank & Trust |
| $150,000–350,000 | SUPERIOR CONCRETE BLOCK COMPANY | MANKATO, MN | Frandsen Bank & Trust |
| $350,000–1 million | SUPERIOR FUEL COMPANY | DULUTH, MN | Frandsen Bank & Trust |
| $150,000–350,000 | TELIN TRANSPORTATION GROUP, L.L.C. | FARMINGTON, MN | Frandsen Bank & Trust |
| $150,000–350,000 | THE CHURCH OF SAINT JOHN THE BAPTIST OF JORDAN, MINN. | JORDAN, MN | Frandsen Bank & Trust |
| $150,000–350,000 | THE CHURCH OF ST. MARY OF BIRD ISLAND, MINNESOTA | BIRD ISLAND, MN | Frandsen Bank & Trust |
| $350,000–1 million | THE CRADLE CLUB, INC. | EDEN PRAIRIE, MN | Frandsen Bank & Trust |
| $2–5 million | THE LUTHERAN HOME ASSOCIATION | BELLE PLAINE, MN | Frandsen Bank & Trust |
| $150,000–350,000 | THE TRENT LAW FIRM, LTD. | VIRGINIA, MN | Frandsen Bank & Trust |
| $350,000–1 million | THEISEN VENDING, INC. | MINNEAPOLIS, MN | Frandsen Bank & Trust |
| $150,000–350,000 | THEMED CONCEPTS L.L.C. | HUGO, MN | Frandsen Bank & Trust |
| $150,000–350,000 | TNT ENTERPRISES GROUP LLC DBA | CAMBRIDGE, MN | Frandsen Bank & Trust |
| $350,000–1 million | TOBIES RESTAURANT, INC. | HINCKLEY, MN | Frandsen Bank & Trust |
| $150,000–350,000 | TWIN CITY DEMO, LLC | EAGAN, MN | Frandsen Bank & Trust |
| $150,000–350,000 | UNITED CRANE & EXCAVATION, INC. | GRAND FORKS, ND | Frandsen Bank & Trust |
| $350,000–1 million | UPPER MIDWEST SLEEP LLC | GRAND FORKS, ND | Frandsen Bank & Trust |
| $150,000–350,000 | VALOR CO., INC. | BELLE PLAINE, MN | Frandsen Bank & Trust |
| $150,000–350,000 | VERMILLION RIVER LLC | LONSDALE, MN | Frandsen Bank & Trust |
| $350,000–1 million | VERSACON, INC. | NEW HOPE, MN | Frandsen Bank & Trust |
| $150,000–350,000 | VERTEX ROOFING INC | EVELETH, MN | Frandsen Bank & Trust |
| $1–2 million | VIGEN CONSTRUCTION, INC. | GRAND FORKS, ND | Frandsen Bank & Trust |
| $2–5 million | VINCO INC | FOREST LAKE, MN | Frandsen Bank & Trust |
| $150,000–350,000 | VISANTE, INC. | SAINT PAUL, MN | Frandsen Bank & Trust |