| $350,000–1 million | MATSUURA MACHINERY USA, INC. | SAINT PAUL, MN | Bremer Bank, National Association |
| $150,000–350,000 | MAXCAM CORPORATION | SAINT PAUL, MN | CorTrust Bank National Association |
| $150,000–350,000 | MAXWELL HEALTHCARE ASSOCIATES, LLC | SAINT PAUL, MN | BMO Bank National Association |
| $1–2 million | MAYFLOWER DISTRIBUTING COMPANY | SAINT PAUL, MN | Old National Bank |
| $350,000–1 million | MBA ENGINEERING, INC. | SAINT PAUL, MN | Old National Bank |
| $150,000–350,000 | MCBRIDE ENTERPRISES, INC. | SAINT PAUL, MN | Farmers & Merchants Savings Bank |
| $150,000–350,000 | MCCAREN DESIGNS, INC. | SAINT PAUL, MN | Sunrise Banks National Association |
| $350,000–1 million | MCCORMICK COMPUTER RESALE, INC | SAINT PAUL, MN | Old National Bank |
| $350,000–1 million | MCPHILLIPS BROS. ROOFING COMPANY | SAINT PAUL, MN | Old National Bank |
| $350,000–1 million | MCQUILLAN BROS PLUMBING HEATING & AC L.L.C. | SAINT PAUL, MN | Citizens State Bank |
| $350,000–1 million | MD BIOSCIENCES, INC | SAINT PAUL, MN | Sunrise Banks National Association |
| $350,000–1 million | MEAD METALS, INC | SAINT PAUL, MN | Bell Bank |
| $150,000–350,000 | MEDI-TECH COMMUNICATIONS INC | SAINT PAUL, MN | U.S. Bank, National Association |
| $150,000–350,000 | MEDLEARN MEDIA INC | SAINT PAUL, MN | CorTrust Bank National Association |
| $150,000–350,000 | MEEFY BEAT, INC. | SAINT PAUL, MN | BankCherokee |
| $150,000–350,000 | MEIER, KENNEDY & QUINN, CHARTERED | SAINT PAUL, MN | U.S. Bank, National Association |
| $150,000–350,000 | MEISTER ORTHODONTICS | SAINT PAUL, MN | Gateway Bank |
| $2–5 million | MELON INVESTMENTS INC. | SAINT PAUL, MN | Bell Bank |
| $150,000–350,000 | MENDOTA HEIGHTS WP LLC | SAINT PAUL, MN | Old National Bank |
| $150,000–350,000 | MENDOTA PRODUCTS, INC. | SAINT PAUL, MN | Old National Bank |
| $350,000–1 million | MENTAL HEALTH RESOURCES INC. | SAINT PAUL, MN | Bremer Bank, National Association |
| $150,000–350,000 | MENZEL ENTERPRISES MINNESOTA, INC. | SAINT PAUL, MN | One Community Bank |
| $150,000–350,000 | MERCURY ELECTRIC CORPORATION | SAINT PAUL, MN | First State Bank and Trust |
| $150,000–350,000 | MERIDIAN BLUE CONSTRUCTION, LLC | SAINT PAUL, MN | Merchants Bank, National Association |
| $1–2 million | MERIT CHEVEROLET COMPANY | SAINT PAUL, MN | Park State Bank |
| $150,000–350,000 | MERIT ELECTRIC COMPANY | SAINT PAUL, MN | First National Bank |
| $350,000–1 million | MERRICK, INC. | SAINT PAUL, MN | First Resource Bank |
| $350,000–1 million | METAL TREATERS INC | SAINT PAUL, MN | Old National Bank |
| $150,000–350,000 | METRO CARE, INC | SAINT PAUL, MN | The Huntington National Bank |
| $150,000–350,000 | METRO ERECTORS, INC. | SAINT PAUL, MN | Alliance Bank |
| $350,000–1 million | METRO HEATING AND COOLING LLC | SAINT PAUL, MN | American National Bank |
| $350,000–1 million | METRO MANUFACTURING, INC. | SAINT PAUL, MN | Alliance Bank |
| $350,000–1 million | METRO METALS CORPORATION | SAINT PAUL, MN | CorTrust Bank National Association |
| $350,000–1 million | METRO SHEET METAL, INCORPORATED | SAINT PAUL, MN | Premier Bank |
| $150,000–350,000 | METRO SOCIAL SERVICES INC | SAINT PAUL, MN | Bridgewater Bank |
| $150,000–350,000 | METRO SOUND & LIGHTING INC | SAINT PAUL, MN | Granite Bank |
| $1–2 million | METROPLAINS MANAGEMENT, LLC | SAINT PAUL, MN | Sunrise Banks National Association |
| $150,000–350,000 | METROPOLITAN CENTER FOR INDEPENDENT LIVING | SAINT PAUL, MN | Highland Bank |
| $350,000–1 million | METROPOLITAN PEDIATRIC DENTAL ASSOCIATES, LTD | SAINT PAUL, MN | U.S. Bank, National Association |
| $150,000–350,000 | METROPOLITAN SHEET METAL JOURNEYMAN AND APPRENTICE TRAINING | SAINT PAUL, MN | Union Bank and Trust Company |
| $2–5 million | MGC DIAGNOSTICS HOLDINGS, INC. | SAINT PAUL, MN | BMO Bank National Association |
| $350,000–1 million | MHC BUNKER HILLS LLC | SAINT PAUL, MN | Old National Bank |
| $350,000–1 million | MHC CULINARY GROUP, LLC | SAINT PAUL, MN | Old National Bank |
| $150,000–350,000 | MHC NORTH OAKS LLC | SAINT PAUL, MN | Old National Bank |
| $350,000–1 million | MHC PAZZALUNA LLC | SAINT PAUL, MN | American National Bank |
| $2–5 million | MHC SPH LLC | SAINT PAUL, MN | Old National Bank |
| $150,000–350,000 | MICHEL SALES AGENCY, INC. | SAINT PAUL, MN | Old National Bank |
| $150,000–350,000 | MICRO PARTS, INC. | SAINT PAUL, MN | Deerwood Bank |
| $350,000–1 million | MID CONTINENT MANAGEMENT CORPORATION | SAINT PAUL, MN | Alliance Bank |
| $1–2 million | MIDWAY HOME HEALTH CARE, INC. | SAINT PAUL, MN | First Bank & Trust |
| $350,000–1 million | MIDWAY STAR ACADEMY CHARTER SCHOOL | SAINT PAUL, MN | BMO Bank National Association |
| $150,000–350,000 | MIDWEST CENTER FOR PERSONAL & FAMILY DEVELOPMENT, P.A. | SAINT PAUL, MN | BankCherokee |
| $150,000–350,000 | MIDWEST NATURAL RESOURCES LLC | SAINT PAUL, MN | Coulee Bank |
| $1–2 million | MIDWEST PHYSICIANS SERVICES, LLC | SAINT PAUL, MN | Old National Bank |
| $5–10 million | MIDWEST RADIOLOGY, P.A. | SAINT PAUL, MN | Old National Bank |
| $2–5 million | MIDWEST SIGN AND SCREEN PRINTING SUPPLY COMPANY | SAINT PAUL, MN | Alerus Financial, National Association |
| $1–2 million | MIDWEST SPECIAL SERVICES INC | SAINT PAUL, MN | Premier Bank |
| $2–5 million | MIDWEST STAFFING GROUP, INC. | SAINT PAUL, MN | Old National Bank |
| $350,000–1 million | MIDWEST SURGERY CENTER | SAINT PAUL, MN | American National Bank |
| $150,000–350,000 | MINNEAPOLIS FURNITURE DISCOUNTERS, INC. | SAINT PAUL, MN | Bremer Bank, National Association |
| $350,000–1 million | MINNEAPOLIS ST PAUL REGIONAL ECONOMIC DEVELOPMENT PARTNERSHI | SAINT PAUL, MN | U.S. Bank, National Association |
| $150,000–350,000 | MINNESOTA ALLIANCE WITH YOUTH | SAINT PAUL, MN | Bremer Bank, National Association |
| $350,000–1 million | MINNESOTA ASSISTANCE COUNCIL FOR VETERANS | SAINT PAUL, MN | Choice Financial Group |
| $150,000–350,000 | MINNESOTA ASSOCIATION FOR CHILDREN'S MENTAL HEALTH | SAINT PAUL, MN | Bremer Bank, National Association |
| $150,000–350,000 | MINNESOTA CAREPARTNER L. L. C. | SAINT PAUL, MN | Sunrise Banks National Association |
| $150,000–350,000 | MINNESOTA CENTER FOR ENVIRONMENTAL ADVOCACY | SAINT PAUL, MN | Bremer Bank, National Association |
| $1–2 million | MINNESOTA CHILDREN'S MUSEUM | SAINT PAUL, MN | Sunrise Banks National Association |
| $1–2 million | MINNESOTA COMMERCIAL RAILWAY CO | SAINT PAUL, MN | Bremer Bank, National Association |
| $350,000–1 million | MINNESOTA CONTINUING LEGAL EDUCATION | SAINT PAUL, MN | Wells Fargo Bank, National Association |
| $350,000–1 million | MINNESOTA COUNCIL OF NONPROFITS | SAINT PAUL, MN | Bremer Bank, National Association |
| $150,000–350,000 | MINNESOTA CRANIOFACIAL CENTER P.C. | SAINT PAUL, MN | Bremer Bank, National Association |
| $1–2 million | MINNESOTA EPILEPSY GROUP, P.A. | SAINT PAUL, MN | ProGrowth Bank |
| $150,000–350,000 | MINNESOTA FARMERS UNION | SAINT PAUL, MN | Bremer Bank, National Association |
| $5–10 million | MINNESOTA HISTORICAL SOCIETY | SAINT PAUL, MN | U.S. Bank, National Association |
| $150,000–350,000 | MINNESOTA HOUSING PARTNERSHIP | SAINT PAUL, MN | Bridgewater Bank |
| $150,000–350,000 | MINNESOTA ICE LLC | SAINT PAUL, MN | Kensington Bank |
| $150,000–350,000 | MINNESOTA INDUSTRIAL BATTERY, INC. | SAINT PAUL, MN | Sunrise Banks National Association |
| $350,000–1 million | MINNESOTA IOWA BAPTIST CONFERENCE | SAINT PAUL, MN | First National Bank North |
| $350,000–1 million | MINNESOTA KNITTING MILLS, INC. | SAINT PAUL, MN | Alliance Bank |
| $150,000–350,000 | MINNESOTA LAND TRUST | SAINT PAUL, MN | Sunrise Banks National Association |
| $150,000–350,000 | MINNESOTA LANDMARKS, INC. | SAINT PAUL, MN | Bremer Bank, National Association |
| $150,000–350,000 | MINNESOTA MUSEUM OF AMERICAN ART | SAINT PAUL, MN | Sunrise Banks National Association |
| $150,000–350,000 | MINNESOTA NATIONAL HEALTH KARE | SAINT PAUL, MN | Intuit Financing Inc. |
| $5–10 million | MINNESOTA ONCOLOGY HEMATOLOGY PA | SAINT PAUL, MN | Bremer Bank, National Association |
| $150,000–350,000 | MINNESOTA SAFETY COUNCIL INC. | SAINT PAUL, MN | Bremer Bank, National Association |
| $350,000–1 million | MINNESOTA SENIOR CARE, INC | SAINT PAUL, MN | U.S. Bank, National Association |
| $150,000–350,000 | MINNESOTA SMOOTHIES AND MORE INC | SAINT PAUL, MN | 21st Century Bank |
| $1–2 million | MINNESOTA STATE AGRICULTURAL SOCIETY | SAINT PAUL, MN | Bremer Bank, National Association |
| $150,000–350,000 | MINNESOTA SURGICAL ASSOCIATES, P.A. | SAINT PAUL, MN | Gateway Bank |
| $150,000–350,000 | MINNESOTA TRUCK AND TRAILER, INC. | SAINT PAUL, MN | Bremer Bank, National Association |
| $2–5 million | MINNESOTA UROLOGY P.A. | SAINT PAUL, MN | BMO Bank National Association |
| $150,000–350,000 | MINNESOTA VETERINARY PARTNERS, PLLC | SAINT PAUL, MN | Sunrise Banks National Association |
| $150,000–350,000 | MINNESOTA WALDORF SCHOOL | SAINT PAUL, MN | Old National Bank |
| $1–2 million | MINNESOTA WIRE & CABLE COMPANY | SAINT PAUL, MN | Riverland Bank |
| $150,000–350,000 | MINNESOTA ZOO FOUNDATION | SAINT PAUL, MN | U.S. Bank, National Association |
| $2–5 million | MINNETRONIX MEDICAL, INC. | SAINT PAUL, MN | Minnesota Bank and Trust, A Division of HTLF Bank |
| $150,000–350,000 | MINSTAR TRANSPORT INC | SAINT PAUL, MN | U.S. Bank, National Association |
| $350,000–1 million | MIRATEC SYSTEMS, INC. | SAINT PAUL, MN | Platinum Bank |
| $350,000–1 million | MISCO/MINNEAPOLIS SPEAKER COMPANY, INC. | SAINT PAUL, MN | BankVista |
| $1–2 million | MISSISSIPPI MARKET COOPERATIVE INC | SAINT PAUL, MN | Associated Bank, National Association |