SBA lender profile
The Bank of Elk River
The Bank of Elk River appears in the public SBA loan data with 81 funded 7(a) loans totaling $48.0M, an average of $593K per loan, and an estimated 1,103 jobs supported. Its SBA lending concentrates in Minnesota and the Manufacturing sector. Across all of its loans in the data, its charge-off rate is 4.9%.
By Mario Bailey · Source: SBA FOIA 7(a) and 504 data, as of 2026-03-31
Funded loans
81
Total volume
$48.0M
Average loan size
$593K
Charge-off rate
4.9%
Share of funded loans charged off
Jobs supported (reported)
1,103
Programs
7(a)
Bank profile
via FDIC- Total assets
- $715M
- Headquarters
- Elk River, MN
- FDIC cert
- #1607
- Status
- Active
Where The Bank of Elk River lends
Top states by funded SBA volume.
What The Bank of Elk River funds
Top industries by funded SBA volume.
| Industry | Loans | Total volume |
|---|---|---|
| Manufacturing | 11 | $11.0M |
| Administrative and Support | 8 | $10.2M |
| Retail Trade | 10 | $5.9M |
| Construction | 14 | $5.7M |
| Agriculture, Forestry, Fishing | 1 | $5.0M |
| Health Care and Social Assistance | 13 | $4.0M |
The Bank of Elk River SBA lending by year
| Fiscal year | Loans | Total volume |
|---|---|---|
| 2020 | 10 | $4.3M |
| 2021 | 25 | $20.3M |
| 2022 | 14 | $5.1M |
| 2023 | 8 | $7.8M |
| 2024 | 13 | $8.2M |
| 2025 | 6 | $1.3M |
| 2026 | 5 | $1.0M |
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 The Bank of 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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