SBA lender profile
First Bank Elk River
First Bank Elk River appears in the public SBA loan data with 41 funded 7(a) loans since FY2010, totaling $5.4M, an average of $131K per loan, and an estimated 446 jobs supported. Its SBA lending concentrates in Minnesota and the Manufacturing sector. Across its 7(a) loans, the charge-off rate is 0.0%.
By Mario Bailey · Source: SBA FOIA 7(a) and 504 data, FY2010–2026 (as of 2026-03-31)
- Track record 79
- Scale 10
- Activity 12
- Consistency 64
A relative profile signal from the public SBA record, not a prediction of approval or a guarantee.
Is First Bank Elk River the right lender for you?
Lenders fund what they know. First Bank Elk River's SBA lending concentrates in Minnesota (41 loans) and Manufacturing (7 loans), at an average loan of $131K. If your business does not look like that, a different SBA lender is likely the better fit.
See which SBA lenders fund businesses like yours →Ranked on the funded-loan record, not on who pays. Free, and your details go only to the lenders we match you to.
Bank profile
via FDIC- Total assets
- $362M
- Headquarters
- Elk River, MN
- FDIC cert
- #5136
- Status
- Active
Where First Bank Elk River lends
Top states by funded SBA volume.
| State | Loans | Total volume |
|---|---|---|
| Minnesota | 41 | $5.4M |
What First Bank Elk River funds
Top industries by funded SBA volume.
| Industry | Loans | Total volume |
|---|---|---|
| Manufacturing | 7 | $1.6M |
| Wholesale Trade | 5 | $1.2M |
| Arts, Entertainment, Recreation | 5 | $744K |
| Retail Trade | 4 | $460K |
| Finance and Insurance | 1 | $325K |
| Professional and Technical Services | 4 | $225K |
First Bank Elk River SBA lending by year
Funded SBA volume by approval fiscal year (FY2010–2026).
| Fiscal year | Loans | Total volume |
|---|---|---|
| 2010 | 1 | $450K |
| 2012 | 1 | $700K |
| 2014 | 2 | $350K |
| 2015 | 8 | $860K |
| 2016 | 6 | $546K |
| 2017 | 9 | $784K |
| 2018 | 8 | $805K |
| 2019 | 3 | $700K |
| 2021 | 1 | $40K |
| 2022 | 1 | $100K |
| 2023 | 1 | $25K |
Related SBA lenders
Other lenders active in Minnesota or in Manufacturing.
Comparing lenders? See how to choose an SBA lender by track record.
First Bank Elk River: frequently asked questions
Does First Bank Elk River offer SBA loans?
Yes. First Bank Elk River appears in the public SBA data with 41 funded SBA 7(a) loans totaling $5.4M.
How many SBA loans has First Bank Elk River made?
First Bank Elk River is associated with 41 SBA 7(a) loans totaling $5.4M in the public SBA data (as of 2026-03-31).
What is First Bank Elk River's SBA charge-off rate?
About 0.0% of First Bank Elk River's 7(a) loans in the data have been charged off. A lower rate is generally a better sign, but it is not a lifetime default rate; see our methodology for how it is calculated.
Where does First Bank Elk River do most of its SBA lending?
First Bank Elk River's SBA lending in the data is most concentrated in Minnesota, and by industry in Manufacturing.
This page is the public view of your institution's SBA record: rank, trajectory, and market position, computed from the complete public 7(a)/504 dataset. The full competitive picture (your share against named competitors by state and industry, and the growing markets you're absent from) is available to your team.
Request your institution's benchmarking →Mario Bailey. (2026). First Bank Elk River SBA lending profile. SBA Loan Index. https://sbaloanindex.com/lenders/first-bank-elk-river/
Free to cite and quote with attribution and a link. Members of the press can reach us via our press page.
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