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First Bank Elk River

ELK RIVER, MN 55330

3
Loans Approved
$165K
Total Volume
$55K
Avg Loan Size
1
States Served

States Served

Minnesota

Top Industries Financed

  • Other Scientific and Technical Consulting Services
  • Commercial and Industrial Machinery and Equipment (except Automotive a
  • Commercial Gravure Printing

Quick Summary

First Bank Elk River is an SBA-approved lender headquartered in ELK RIVER, Minnesota. Since 2020, they have approved 3 SBA 7(a) loans totaling $165K, with an average loan size of $55K. They primarily serve Minnesota businesses.

About First Bank Elk River

First Bank Elk River is an SBA-approved lender headquartered in ELK RIVER, Minnesota. Since 2020, they have approved 3 SBA 7(a) loans totaling $165K, with an average loan size of $55K. They primarily serve businesses in Minnesota.

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Helpful SBA Borrower Guides

SBA 7(a) RequirementsDocuments ChecklistHow to Choose a Lender

Frequently Asked Questions

Is First Bank Elk River an SBA Preferred Lender?

First Bank Elk River is an SBA-approved lender but does not currently hold Preferred Lender (PLP) status. Loan approvals require standard SBA review, which typically adds 2–4 weeks to the process.

How many SBA loans has First Bank Elk River approved?

According to SBA FOIA public records, First Bank Elk River has approved 3 SBA 7(a) loans totaling $165K since 2020. Their average loan size is $55K.

What states does First Bank Elk River serve?

First Bank Elk River primarily serves businesses in Minnesota.

How do I apply for an SBA loan with First Bank Elk River?

To apply for an SBA 7(a) loan with First Bank Elk River, contact them directly through the form on this page. Before applying, check your FICO SBSS score (the SBA's pre-screening score) and have your financial statements, business plan, and tax returns ready. Most SBA lenders require 2+ years in business, $100K+ annual revenue, and a personal credit score of 640+.

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