Small Business Loan Officer Salaries in Minnesota
How Much Does a Small Business Loan Officer Make in Minnesota?
Updated April 01, 2025
As of April 01, 2025,
the average annual pay of Small Business Loan Officer in Minnesota is $68,473.
While Salary.com is seeing that Small Business Loan Officer salary in MN can go up to $89,357
or down to $48,921, but most earn between $58,239 and $79,405.
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 Small Business Loan Officer
Small Business Administration Loan Officer II
$103,060
Minnesota
Per Year
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Similar Job Salaries to Small Business Loan Officer by Company
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| Company | average base salary in (usd) | range |
|---|---|---|
|
Jobleads-US
Commercial Loan Officer with Small Business Focus
|
$133,588/yr
|
RANGE: $118,032 - $149,144
|
|
State of Minnesota
Loan Officer
|
$78,473/yr
|
RANGE: $70,518 - $86,428
|
|
Builders Capital
Loan Officer
|
$80,260/yr
|
RANGE: $72,124 - $88,396
|
|
Soccer Shots Twin Cities
Small Business Internship
|
$73,727/yr
|
RANGE: $63,818 - $83,637
|
|
U.S. Bank National Association
Head of Small Business Card
|
$121,156/yr
|
RANGE: $105,935 - $136,378
|
|
U.S. Bank
Head of Small Business Card
|
$106,846/yr
|
RANGE: $93,192 - $120,499
|
|
WaFd Bank
Small Business Loan Specialist
|
$53,383/yr
|
RANGE: $48,124 - $58,643
|
|
State of Minnesota
Senior Loan Officer - Loan Officer Senior
|
$89,882/yr
|
RANGE: $81,696 - $98,069
|
Top 10 Highest Paying Cities For Small 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 Small 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 Small Business Loan Officer job salaries in Minnesota.
Some cities can pay higher salaries for Small Business Loan Officer jobs, which can indicate that there is a large demand for Small Business Loan Officer positions in this city.
The following table shows top 10 cities where the Small Business Loan Officer salary is higher than other cities in Minnesota.
Minneapolis takes first place in this list, followed by Saint Paul, Minnetonka.
The Small Business Loan Officer salary is $70,032 in Minneapolis,
which is higher than the national average. There are 7 cities' Small Business Loan Officer salary higher than national average in Minnesota.
The average salary for a Small Business Loan Officer in Minnesota is $68,473,
but we found that the city with the highest salary for Small Business Loan Officer jobs is Minneapolis, MN, and it is higher than Saint Paul.
Small 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 | $70,032 | $5,836 | $1,347 | $34 |
| Saint Paul | $70,032 | $5,836 | $1,347 | $34 |
| Minnetonka | $70,032 | $5,836 | $1,347 | $34 |
| Eden Prairie | $69,912 | $5,826 | $1,344 | $34 |
| Burnsville | $69,831 | $5,819 | $1,343 | $34 |
| Lakeville | $69,590 | $5,799 | $1,338 | $33 |
| Rochester | $67,081 | $5,590 | $1,290 | $32 |
| Saint Cloud | $66,011 | $5,501 | $1,269 | $32 |
| Duluth | $64,184 | $5,349 | $1,234 | $31 |
What Does a Small Business Loan Officer Do?
The loan officer is responsible for the initial screening process and is unlikely to proceed with an application from someone who does not meet the lender's qualifications.
Updated December 15, 2021
For example, if a bank loan requires three years of business tax returns and you've only been in business for six months, you'll need to look elsewhere.
Updated December 13, 2021
Getting your credit scores in tip-top shape before you apply for a business loan will help to boost your chances of success.
Updated December 12, 2021
The loan officer is responsible for collecting the appropriate closing documents for a mortgage or other loan.
Updated December 12, 2021
The Small Business Loan Officer will be responsible for the deposit and loan growth of the small business portfolio.
Updated December 11, 2021
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Explore JobArchitectFrequently Asked Questions About a Small Business Loan Officer Salaries
What is the average of a Small Business Loan Officer in Minnesota?
The Small Business Loan Officer salary range is from $58,239 to $79,405, and the average Small Business Loan Officer salary is $68,473/year in Minnesota.
The Small Business Loan Officer's salary will change in different locations.
Which location pays the highest Small Business Loan Officer salary in the United States?
The Small Business Loan Officer salary in San Jose, CA is $84,398
which is the highest in the US.
What kinds of reasons will influence the Small 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 Small Business Loan Officer.
What is the growth rate of the Small Business Loan Officer's salary?
If you are thinking of becoming a Small Business Loan Officer or planning the next step in your career, find the detailed salary report of a Small Business Loan Officer.
