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Lake Elmo Bank

LAKE ELMO, MN 55042

10
Loans Approved
$12.5M
Total Volume
$1.2M
Avg Loan Size
3
States Served

States Served

IllinoisMinnesotaWyoming

Top Industries Financed

  • Janitorial Services
  • All Other Specialty Trade Contractors
  • All Other Outpatient Care Centers
  • All Other Personal Services
  • All Other Amusement and Recreation Industries

Quick Summary

Lake Elmo Bank is an SBA-approved lender headquartered in LAKE ELMO, Minnesota. Since 2020, they have approved 10 SBA 7(a) loans totaling $12.5M, with an average loan size of $1.2M. They serve businesses across 3 states.

About Lake Elmo Bank

Lake Elmo Bank is an SBA-approved lender headquartered in LAKE ELMO, Minnesota. Since 2020, they have approved 10 SBA 7(a) loans totaling $12.5M, with an average loan size of $1.2M. They serve businesses across 3 states.

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Helpful SBA Borrower Guides

SBA 7(a) RequirementsDocuments ChecklistHow to Choose a Lender

Frequently Asked Questions

Is Lake Elmo Bank an SBA Preferred Lender?

Lake Elmo Bank 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 Lake Elmo Bank approved?

According to SBA FOIA public records, Lake Elmo Bank has approved 10 SBA 7(a) loans totaling $12.5M since 2020. Their average loan size is $1.2M.

What states does Lake Elmo Bank serve?

Lake Elmo Bank serves businesses in 3 states: Illinois, Minnesota, Wyoming.

How do I apply for an SBA loan with Lake Elmo Bank?

To apply for an SBA 7(a) loan with Lake Elmo Bank, 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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