Bank of Elk River approved 54 SBA loans worth $25.7M between October 2021 and June 2026, ranking #540 of 2,283 SBA lenders nationally by loan count. Its median loan was $250,000, and 37% went to startups or businesses under two years old. It lent in 1 states, most often in Minnesota, and its most financed industry was construction.
| State | Loans | Approved | Median loan | Rank in state |
|---|---|---|---|---|
| Minnesota | 54 | $25.7M | $250,000 | #36 |
| Industry | Loans | Share | Median loan |
|---|---|---|---|
| Construction | 11 | $250,000 | |
| Other services (repair, personal care) | 9 | $250,000 | |
| Health care and social assistance | 8 | $158,950 | |
| Manufacturing | 7 | $357,000 | |
| Administrative and support services | 5 | $500,000 | |
| Arts, entertainment and recreation | 3 | $236,900 | |
| Professional and technical services | 3 | $102,000 | |
| Education | 2 | $317,250 | |
| Transportation and warehousing | 2 | $221,400 | |
| Retail | 2 | $666,200 |