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The Lender Report built this page from public records. The Bank of Elk River has not reviewed it. Every lender's page starts this way, and it says nothing about The Bank of Elk River itself. Each figure shows its source and date. Work at The Bank of Elk River? You can claim this page for free.
SBA 7(a) record
The Bank of Elk River: SBA 7(a) loans made
The Bank of Elk River, a bank based in Elk River, MN, made 31 SBA 7(a) loans in the 36 months ending September 30, 2026, $14.8M in all, net of cancelled approvals. The typical loan was about $240K, and 16 were in the last 12 months. Most were in Minnesota.
- Evidence
- SBA 7(a) loans in the 36 months ending September 30, 2026, SBA
- Data as of
- SBA, September 30, 2026
- Page last changed
- November 9, 2026
- Loans, 36 months
- 31
- SBA FOIA,
- Net of cancelled approvals
- Dollars
- $14.8M
- SBA FOIA,
- Rounded amounts
- Typical loan
- $240K
- SBA FOIA,
- Largest loan
- $4.6M
- SBA FOIA,
- Rounded to 2 significant figures
- Last 12 months
- 16
- SBA FOIA,
Cite this
Source: The Lender Report, The Bank of Elk River: SBA 7(a) loans made, https://lender.report/lender/bank-of-elk-river-mn/sba-7a/, data as of September 30, 2026.
The loans, newest first
Banks report no loan-level data for office, retail, industrial or construction loans. This list shows only multifamily and SBA loans.
| Period | Place | Loan | Amount | Rate | Term | LTV | Source |
|---|---|---|---|---|---|---|---|
| Sep 2026 | Minnesota | SBA 7(a), Offices of Physicians (except Mental Health Specialists) | $1.5M | 7.75% | 25 yr | SBA FOIA | |
| Aug 2026 | Minnesota | SBA 7(a), Automotive Parts and Accessories Retailers | $1.5M | 7.75% | 10 yr | SBA FOIA | |
| Jul 2026 | Minnesota | SBA 7(a), Machine Shops | $240K | 7.75% | 10 yr | SBA FOIA | |
| Jun 2026 | Minnesota | SBA 7(a), All Other Specialty Trade Contractors | $500K | 7.75% | 10 yr | SBA FOIA | |
| Jun 2026 | Minnesota | SBA 7(a), All Other Amusement and Recreation Industries | $240K | 9% | 10 yr | SBA FOIA | |
| Jun 2026 | Minnesota | SBA 7(a), All Other Personal Services | $180K | 7% | 10 yr | SBA FOIA | |
| May 2026 | Minnesota | SBA 7(a), Plumbing, Heating, and Air-Conditioning Contractors | $420K | 8.75% | 10 yr | SBA FOIA | |
| May 2026 | Minnesota | SBA 7(a), Fitness and Recreational Sports Centers | $400K | 7.75% | 10 yr | SBA FOIA | |
| May 2026 | Minnesota | SBA 7(a), General Freight Trucking, Long-Distance, Truckload | $350K | 6.75% | 10 yr | SBA FOIA | |
| May 2026 | Minnesota | SBA 7(a), Fitness and Recreational Sports Centers | $150K | 7.75% | 10 yr | SBA FOIA | |
| Apr 2026 | Minnesota | SBA 7(a), Utilities | $50K | 8.75% | 10 yr | SBA FOIA | |
| Mar 2026 | Minnesota | SBA 7(a), General Automotive Repair | $330K | 8.75% | 10 yr | SBA FOIA | |
| Mar 2026 | Minnesota | SBA 7(a), General Automotive Repair | $250K | 8.75% | 10 yr | SBA FOIA | |
| Mar 2026 | Minnesota | SBA 7(a), Power and Communication Line and Related Structures Construction | $240K | 8.75% | 10 yr | SBA FOIA | |
| Mar 2026 | Minnesota | SBA 7(a), Power and Communication Line and Related Structures Construction | $100K | 8.75% | 10 yr | SBA FOIA | |
| Mar 2026 | Minnesota | SBA 7(a), General Freight Trucking, Local | $93K | 7% | 10 yr | SBA FOIA | |
| May 2025 | Minnesota | SBA 7(a), Insurance Agencies and Brokerages | $50K | 9.5% | 10 yr | SBA FOIA | |
| Mar 2025 | Minnesota | SBA 7(a), Automotive Parts and Accessories Retailers | $400K | 8.5% | 10 yr | SBA FOIA | |
| Feb 2025 | Minnesota | SBA 7(a), Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance | $50K | 9.5% | 10 yr | SBA FOIA | |
| Dec 2024 | Minnesota | SBA 7(a), Sports and Recreation Instruction | $320K | 9.75% | 8 yr | SBA FOIA | |
| Jul 2024 | Minnesota | SBA 7(a), Machine Shops | $80K | 10.5% | 7 yr | SBA FOIA | |
| Jun 2024 | Minnesota | SBA 7(a), Offices of Chiropractors | $100K | 11.5% | 10 yr | SBA FOIA | |
| Apr 2024 | Minnesota | SBA 7(a), Employment Placement Agencies | $4.6M | 9.5% | 10 yr | SBA FOIA | |
| Apr 2024 | Minnesota | SBA 7(a), Car Washes | $400K | 9.5% | 10 yr | SBA FOIA | |
| Apr 2024 | Minnesota | SBA 7(a), Car Washes | $100K | 9.5% | 10 yr | SBA FOIA | |
| 31 SBA 7(a) loans since October 2023, net of cancelled | $14.8M | SBA FOIA | |||||
A blank means the source did not report it.
| State | Loans | Dollars |
|---|---|---|
| Minnesota | 31 | $14.8M |
SBA loans are on record by state only.
| Loan size | Loans | Dollars |
|---|---|---|
| Under $150K | 11 | $848K |
| $150K to $350K | 9 | $2.27M |
| $350K to $1M | 7 | $2.92M |
| $1M to $2.5M | 3 | $4.20M |
| $2.5M or more | 1 | $4.60M |
| Quarter | Loans | Dollars |
|---|---|---|
| 2023 Q4 | 3 | $450K |
| 2024 Q1 | 3 | $1.75M |
| 2024 Q2 | 4 | $5.20M |
| 2024 Q3 | 1 | $80.0K |
| 2024 Q4 | 1 | $320K |
| 2025 Q1 | 2 | $450K |
| 2025 Q2 | 1 | $50.0K |
| 2026 Q1 | 5 | $1.01M |
| 2026 Q2 | 8 | $2.29M |
| 2026 Q3 | 3 | $3.24M |
Calendar quarters of the SBA approval date. The first and last may cover part of a quarter: the window is the 36 months ending September 30, 2026.
A 6-digit code is printed only where the SBA file holds 5 or more loans of the program in that state; the rest show as their 2-digit sector.
| Processing method | Loans |
|---|---|
| Preferred Lenders Program | 16 |
| SBA Express Program | 12 |
| 7a General | 2 |
| Working Capital CAPLine | 1 |
- The Bank of Elk River made 31 SBA 7(a) loans totaling $14.8M in the 36 months ending September 30, 2026, net of cancelled approvals, in 1 state. SBA FOIA,
- 16 of them were in the 12 months to September 30, 2026, and 4 in the 12 months before. SBA FOIA,
- The typical loan was about $240K, with the middle half between $100K and $400K. SBA FOIA,
- The largest was about $4.6M. Every amount is rounded to 2 significant figures. SBA FOIA,
- 11 loans were under $150K, and 4 were $1M or more. SBA FOIA,
- The SBA file shows a median initial rate of 8.75% on 31 loans, with the middle half between 7.75% and 9.50%. SBA FOIA,
- The median term was 10 years. SBA FOIA,
- Its loans went most often to Automotive Parts and Accessories Retailers, with 2. SBA FOIA,
- The SBA file lists 16 of its loans as processed under Preferred Lenders Program. SBA FOIA,
- Its loans were most often in Minnesota (31). SBA FOIA,
What we don't know
- Whether The Bank of Elk River is taking new SBA 7(a) loans today, or how it would treat a business like yours.
- Loans that were never completed. The SBA file lists approvals, and this page leaves out the ones it marks cancelled.
- The borrower, the address and every term beyond rate and term. The public file does not show them.
SBA loans are on record by state only. Amounts are rounded to 2 significant figures and dates to the month. A 6-digit industry code is printed only where the SBA file holds 5 or more loans of the program in that state.
Loans are SBA approvals, net of cancelled approvals.
SBA does not require you to use an agent or broker for a loan application. SBA has not reviewed or endorsed this site.
Source and date appear beside each figure. Banks report balances, not loans made. Loans made come only from HMDA and SBA files. We do not audit filings and can make errors joining them. Report a problem
Figures come from public records and show the source and date beside them. Public records can be late, incomplete or wrong. A past loan does not mean a lender will make the same kind of loan today. Confirm anything important with the lender.