96 SBA loans worth $44.1M went to businesses in Elk River, MN between October 2021 and June 2026, from 31 lenders. Huntington National Bank made the most, 11 loans. The median loan was $150,000, compared with $212,000 across Minnesota, and construction was the most financed industry.
| # | Lender | Loans | Approved | Median loan | To startups |
|---|---|---|---|---|---|
| 1 | Huntington National Bank Bank · Columbus, OH | 11 | $736K | $46,000 | 64% |
| 2 | U.S. Bank Bank · Cincinnati, OH | 10 | $433K | $30,000 | 30% |
| 3 | Midwest Business Finance Certified development company · St. Cloud, MN | 7 | $4.7M | $674,000 | 0% |
| 4 | Bravera Bank Bank · Dickinson, ND | 7 | $686K | $60,000 | 86% |
| 5 | Twin Cities-Metro Certified Development Certified development company · Vadnais Heights, MN | 6 | $11.4M | $1,624,000 | 17% |
| 6 | Bank of Elk River Bank · Elk River, MN | 6 | $5.0M | $242,100 | 0% |
| 7 | Pine River State Bank Bank · Pine River, MN | 6 | $760K | $144,000 | 17% |
| 8 | Old National Bank Bank · Evansville, IN | 4 | $1.7M | $315,950 | 25% |
| 9 | Frandsen Bank and Trust Bank · Lonsdale, MN | 4 | $1.6M | $362,500 | 0% |
| 10 | BayFirst National Bank Bank · St. Petersburg, FL | 4 | $600K | $150,000 | 0% |
| 11 | Wells Fargo Bank Bank · Sioux Falls, SD | 4 | $70K | $15,000 | 100% |
| 12 | Northeast Bank Bank · Portland, ME | 3 | $438K | $150,000 | 33% |
| 13 | Nicolet National Bank Bank · Green Bay, WI | 2 | $4.0M | $2,000,000 | 100% |
| 14 | Associated Bank Bank · Green Bay, WI | 2 | $1.7M | $867,000 | 50% |
| 15 | Bell Bank Bank · Fargo, ND | 2 | $801K | $400,500 | 0% |
| Industry | Loans | Share | Median loan | Most active lender |
|---|---|---|---|---|
| Construction | 21 | $150,000 | Bravera Bank | |
| Manufacturing | 13 | $500,000 | Associated Bank | |
| Other services (repair, personal care) | 11 | $200,000 | Frandsen Bank and Trust | |
| Health care and social assistance | 10 | $150,000 | Bank of Elk River | |
| Administrative and support services | 10 | $45,050 | Huntington National Bank | |
| Professional and technical services | 6 | $1,050,000 | Nicolet National Bank | |
| Restaurants and hotels | 6 | $286,750 | Huntington National Bank | |
| Wholesale trade | 5 | $50,000 | Huntington National Bank |