SBA lender profile
First Bank Elk River
First Bank Elk River appears in the public SBA loan data with 3 funded 7(a) loans totaling $165K, an average of $55K per loan, and an estimated 15 jobs supported. Its SBA lending concentrates in Minnesota and the Professional and Technical Services sector. Across all of its loans in the data, its charge-off rate is 0.0%.
By Mario Bailey · Source: SBA FOIA 7(a) and 504 data, as of 2026-03-31
Funded loans
3
Total volume
$165K
Average loan size
$55K
Charge-off rate
0.0%
Share of funded loans charged off
Jobs supported (reported)
15
Programs
7(a)
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 | 3 | $165K |
What First Bank Elk River funds
Top industries by funded SBA volume.
| Industry | Loans | Total volume |
|---|---|---|
| Professional and Technical Services | 1 | $100K |
| Manufacturing | 1 | $40K |
| Other Services | 1 | $25K |
First Bank Elk River SBA lending by year
| Fiscal year | Loans | Total volume |
|---|---|---|
| 2021 | 1 | $40K |
| 2022 | 1 | $100K |
| 2023 | 1 | $25K |
Sources and disclaimer. All figures are computed from
the U.S. Small Business Administration's public FOIA 7(a) and 504 loan data (as of 2026-03-31),
as described in our methodology.
The charge-off rate is the share of First Bank Elk River's funded loans marked charged off across all of its
loans in the data; it is not a lifetime default rate. SBA Loan Index is not affiliated with the
SBA and is not a lender, broker, or financial advisor. This is general information, not advice.
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