Business Loan Officer Salaries in Minnesota
How Much Does a Business Loan Officer Make in Minnesota?
Updated April 01, 2025
As of April 01, 2025,
the average annual pay of Business Loan Officer in Minnesota is $97,474.
While Salary.com is seeing that Business Loan Officer salary in MN can go up to $126,363
or down to $66,618, but most earn between $81,323 and $112,596.
Salary ranges can vary widely depending on many important factors,
including education, certifications, additional skills, and your experience levels.
With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
Related Job Titles to Business Loan Officer
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Similar Job Salaries to Business Loan Officer by Company
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| Company | average base salary in (usd) | range |
|---|---|---|
|
Synectics Inc
Loan Officer
|
$84,794/yr
|
RANGE: $75,924 - $93,664
|
|
Caliver Beach Mortgage
Loan Officer
|
$73,558/yr
|
RANGE: $66,101 - $81,014
|
|
Builders Capital
Loan Officer
|
$80,260/yr
|
RANGE: $72,124 - $88,396
|
|
State of Minnesota
Loan Officer
|
$78,473/yr
|
RANGE: $70,518 - $86,428
|
|
State of Minnesota
Senior Loan Officer - Loan Officer Senior
|
$89,882/yr
|
RANGE: $81,696 - $98,069
|
|
NorthRidge Community Credit Union
Financial Service Officer/Loan Officer
|
$65,271/yr
|
RANGE: $58,328 - $72,214
|
|
Blaze Credit Union
Branch Mortgage Loan Officer
|
$74,785/yr
|
RANGE: $67,578 - $81,993
|
|
CCM CrossCountry Mortgage, LLC
Loan Officer Assistant
|
$59,459/yr
|
RANGE: $53,473 - $65,444
|
|
gpac
Mortgage Loan Officer
|
$80,260/yr
|
RANGE: $72,124 - $88,396
|
Top 10 Highest Paying Cities For Business Loan Officer Jobs in Minnesota
It is important to understand how location impacts your career prospects in the United States.
There are some cities where a Business Loan Officer can find a job easily with a greater salary paid then achieve a higher standard of living.
Below is the top cities list for Business Loan Officer job salaries in Minnesota.
Some cities can pay higher salaries for Business Loan Officer jobs, which can indicate that there is a large demand for Business Loan Officer positions in this city.
The following table shows top 10 cities where the Business Loan Officer salary is higher than other cities in Minnesota.
Minneapolis takes first place in this list, followed by Saint Paul, Minnetonka.
The Business Loan Officer salary is $99,694 in Minneapolis,
which is higher than the national average. There are 7 cities' Business Loan Officer salary higher than national average in Minnesota.
The average salary for a Business Loan Officer in Minnesota is $97,474,
but we found that the city with the highest salary for Business Loan Officer jobs is Minneapolis, MN, and it is higher than Saint Paul.
Business Loan Officer jobs in Minneapolis can have the opportunity to earn higher salaries than in other cities in Minnesota.
| CITY | ANNUAL SALARY | MONTHLY PAY | WEEKLY PAY | HOURLY WAGE |
| Minneapolis | $99,694 | $8,308 | $1,917 | $48 |
| Saint Paul | $99,694 | $8,308 | $1,917 | $48 |
| Minnetonka | $99,694 | $8,308 | $1,917 | $48 |
| Eden Prairie | $99,522 | $8,294 | $1,914 | $48 |
| Burnsville | $99,408 | $8,284 | $1,912 | $48 |
| Lakeville | $99,065 | $8,255 | $1,905 | $48 |
| Rochester | $95,493 | $7,958 | $1,836 | $46 |
| Saint Cloud | $93,969 | $7,831 | $1,807 | $45 |
| Duluth | $91,368 | $7,614 | $1,757 | $44 |
What Does a Business Loan Officer Do?
Our team lives in the communities we serve, in Baltimore, throughout Maryland, and into northern Virginia, Delaware, and Pennsylvania. With decades of experience in our markets, our loan officers have local, practical knowledge that you can rely on.
Updated December 01, 2021
– while commercial loan officers make their decisions based on what they see on paper, customer service is still a big part of the job because they often meet with applicants face to face.
Updated December 20, 2021
Commercial loan officers work in credit unions, commercial banks, mortgage companies, and financial institutions of all types.
Updated December 16, 2021
Commercial loan officers receive health insurance and other job perks, including profit-sharing and bonuses for completing successful loans.
Updated December 15, 2021
In fact, one reason why banks continue to have so many branch offices is that they need to bring loan officers face to face with potential borrowers.
Updated December 11, 2021
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Explore JobArchitectFrequently Asked Questions About a Business Loan Officer Salaries
What is the average of a Business Loan Officer in Minnesota?
The Business Loan Officer salary range is from $81,323 to $112,596, and the average Business Loan Officer salary is $97,474/year in Minnesota.
The Business Loan Officer's salary will change in different locations.
Which location pays the highest Business Loan Officer salary in the United States?
The Business Loan Officer salary in San Jose, CA is $120,145
which is the highest in the US.
What kinds of reasons will influence the Business Loan Officer's salary?
Besides the location, employees' education degree, related skills, and work experience also will influence the salary.
Try to improve your skills and experience to get a higher salary for the position of Business Loan Officer.
What is the growth rate of the Business Loan Officer's salary?
If you are thinking of becoming a Business Loan Officer or planning the next step in your career, find the detailed salary report of a Business Loan Officer.
