US Lender Metrics Get a Lender Match
Home › SBA lenders by state › Minnesota › Lake Elmo

SBA lenders in Lake Elmo, MN

SBA 7(a) and 504 loans to businesses in Lake Elmo (Washington County), October 2021 to June 30, 2026 · Updated October 15, 2026
35
SBA loans approved
$25.2M
Total approved
$350,000
Median loan
17
Lenders active
34%
To startups

35 SBA loans worth $25.2M went to businesses in Lake Elmo, MN between October 2021 and June 2026, from 17 lenders. Huntington National Bank made the most, 6 loans. The median loan was $350,000, compared with $212,000 across Minnesota, and construction was the most financed industry.

Most active SBA lenders in Lake Elmo

#LenderLoansApprovedMedian loanTo startups
1Huntington National Bank
Bank · Columbus, OH
6$1.3M$35,00033%
2U.S. Bank
Bank · Cincinnati, OH
5$474K$40,00080%
3Twin Cities-Metro Certified Development
Certified development company · Vadnais Heights, MN
3$3.7M$1,630,00033%
4Nicolet National Bank
Bank · Green Bay, WI
3$2.6M$986,0000%
5Live Oak Banking
Bank · Wilmington, NC
2$5.8M$2,895,000100%
6WBD
Certified development company · Madison, WI
2$4.5M$2,250,00050%
7Platinum Bank
Bank · Oakdale, MN
2$1.2M$585,0000%
8Highland Bank
Bank · St. Paul, MN
2$900K$450,0000%
9Hiawatha National Bank
Bank · Hager City, WI
2$84K$42,0000%
10Lake Elmo Bank
Bank · Lake Elmo, MN
1$2.3M$2,314,8000%
1121st Century Bank
Bank · Loretto, MN
1$870K$870,0000%
12Central Minnesota Development
Certified development company · Andover, MN
1$544K$544,0000%
13Drake Bank
Bank · St. Paul, MN
1$350K$350,0000%
14United Midwest Savings Bank
Bank · Degraff, OH
1$275K$275,000100%
15Frandsen Bank and Trust
Bank · Lonsdale, MN
1$250K$250,0000%
7(a) and 504 lenders combined, ranked by number of loans to businesses in Lake Elmo. For 504 loans the lender shown is the certified development company.

What gets financed in Lake Elmo

IndustryLoansShareMedian loanMost active lender
Construction9
26%
$275,000Huntington National Bank
Retail5
14%
$100,000Nicolet National Bank
Arts, entertainment and recreation4
11%
$1,177,000Huntington National Bank
Restaurants and hotels3
9%
$50,000Hiawatha National Bank
Health care and social assistance3
9%
$1,744,000Live Oak Banking
Other services (repair, personal care)3
9%
$350,000Platinum Bank
Professional and technical services2
6%
$560,000Frandsen Bank and Trust
Transportation and warehousing2
6%
$450,000Highland Bank
Loan size mix
  • Under $150,00037%
  • $150,000 to $500,00023%
  • $500,000 to $2 million31%
  • $2 million and up9%
Compared with Minnesota
Median loan, Lake Elmo
$350,000
Median loan, Minnesota
$212,000
Startup share, Lake Elmo
34%
Startup share, Minnesota
35%
Share of state's SBA loans
0.4%

SBA loans per fiscal year in Lake Elmo

03710FY14: 3 loansFY14FY15: 2 loansFY15FY16: 4 loansFY16FY17: 1 loansFY17FY18: 1 loansFY18FY19: 6 loansFY19FY20: 5 loansFY20FY21: 9 loansFY21FY22: 8 loansFY22FY23: 10 loansFY2310FY24: 6 loansFY24FY25: 6 loansFY25FY26 (Oct to Jun): 5 loansFY265
Fiscal year runs October to September. Fiscal 2026 covers October 2025 to June 2026 only.
Data from the U.S. Small Business Administration's public 7(a) and 504 loan records (through June 30, 2026) and FDIC call-report data (quarter ending June 30, 2026). US Lender Metrics is not affiliated with the SBA, FDIC, FFIEC, NCUA or any lender, is not a lender or loan broker, and does not make credit decisions. Information only; not financial, legal or lending advice. © 2026 US Lender Metrics.