STRONG
How competitive are their spreads? Lower = better for you.
GOOD
Total SBA loans closed. More deals = more experience.
GOOD
How many industries do they lend in? More = flexible.
WEAK
States where they've done deals. Wider = easier if you're out of state.
Total SBA Loans
161
2010–2025
Total Volume
$99M
Gross loan amounts
States Active
2
With recorded loans
Programs
7(a) & 504
161 total segments
The Bank of Elk River has a strong focus on 504 loans, making up 28% of their total SBA deals, which is higher than the national average of 18%. This indicates they are well-suited for borrowers looking for real estate financing or expansion projects.
With an average 7(a) loan spread of P+1.62%, The Bank of Elk River offers competitive pricing compared to the national median of P+2.75%. This could lead to significant savings for borrowers over the life of their loans.
The lender's growth trend shows a concerning decline of 60% year-over-year, with only 6 deals in the last four quarters compared to 15 in the prior year. This may indicate a tightening of lending standards or reduced capacity, which could affect approval chances for new borrowers.
Quarterly SBA lending activity, last 5 years.
Estimated spreads based on real historical SBA lending data. Directional, not exact quotes. Excludes 45 504 loans, which use fixed SBA debenture rates.
States where The Bank of Elk River has recorded SBA lending activity.
Lending activity by industry cluster.
Top 8 of 15 industries by deal count
Manufacturing
Manufacturing
Specialty Trade Contractors
Construction
Other Health Practitioners
Health Care & Social Assistance
Administrative & Waste Services
Administrative & Waste Services
Auto Repair & Maintenance
Other Services
Auto Dealers & Parts
Retail Trade
Retail Trade
Retail Trade
Wholesale Trade
Wholesale Trade
+ 7 more
All recorded SBA lending activity for The Bank of Elk River, grouped by state, industry, and deal size.
| Segment | Program | Deals↓ | Median Spread | Avg Size | Last Deal |
|---|---|---|---|---|---|
| Minnesota · Specialty Trade Contractors · $150K – $350K | 7(a) | 7 | P+2.00% | $300K | Q2 2022 |
| Minnesota · Manufacturing · $500K – $1M | 504 | 6 | — | $690K | Q2 2025 |
| Minnesota · Other Health Practitioners · Under $150K | 7(a) | 6 | P+1.88% | $88K | Q2 2024 |
| Minnesota · Manufacturing · $150K – $350K | 504 | 6 | — | $254K | Q2 2023 |
| Minnesota · Manufacturing · Under $150K | 7(a) | 5 | P+2.00% | $88K | Q3 2024 |
| Minnesota · Other Health Practitioners · $150K – $350K | 7(a) | 4 | P+2.00% | $227K | Q3 2022 |
| Minnesota · Education · $150K – $350K | 7(a) | 4 | P+1.13% | $262K | Q4 2024 |
| Minnesota · Manufacturing · $2M – $5M | 7(a) | 4 | P+0.27% | $3.8M | Q2 2023 |
| Minnesota · Administrative & Waste Services · Under $150K | 7(a) | 4 | P+1.75% | $82K | Q4 2020 |
| Minnesota · Specialty Trade Contractors · Under $150K | 7(a) | 4 | P+2.00% | $74K | Q1 2024 |
| Minnesota · Auto Dealers & Parts · Under $150K | 7(a) | 4 | P+1.00% | $102K | Q3 2021 |
| Minnesota · Specialty Trade Contractors · $1M – $2M | 7(a) | 3 | P+1.75% | $1.2M | Q1 2024 |
| Minnesota · Administrative & Waste Services · $350K – $500K | 7(a) | 3 | P+0.00% | $462K | Q1 2024 |
| Minnesota · Accounting & Tax · Under $150K | 7(a) | 3 | P+2.00% | $66K | Q4 2023 |
| Minnesota · Manufacturing · $150K – $350K | 7(a) | 3 | P+2.00% | $234K | Q4 2022 |
| Minnesota · Manufacturing · $1M – $2M | 7(a) | 3 | P+1.50% | $1.3M | Q4 2021 |
| Minnesota · Auto Repair & Maintenance · Under $150K | 7(a) | 3 | P+2.00% | $107K | Q2 2024 |
| Minnesota · Finance & Insurance · Under $150K | 7(a) | 3 | P+2.00% | $90K | Q2 2025 |
| Minnesota · Heavy & Civil Engineering · $2M – $5M | 7(a) | 2 | P+1.38% | $3.5M | Q2 2016 |
| Minnesota · Social Assistance · Under $150K | 7(a) | 2 | P+3.75% | $64K | Q3 2017 |
| Minnesota · Auto Dealers & Parts · $150K – $350K | 504 | 2 | — | $230K | Q1 2024 |
| Minnesota · Social Assistance · $150K – $350K | 7(a) | 2 | P+2.17% | $303K | Q3 2018 |
| Minnesota · Restaurants & Food Service · Under $150K | 7(a) | 2 | P+2.00% | $60K | Q1 2018 |
| Minnesota · Manufacturing · $1M – $2M | 504 | 2 | — | $1.2M | Q2 2023 |
| Minnesota · Wholesale Trade · $500K – $1M | 504 | 2 | — | $709K | Q1 2014 |
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