35 SBA loans worth $25.2M went to businesses in Lake Elmo, MN between October 2021 and June 2026, from 17 lenders. Huntington National Bank made the most, 6 loans. The median loan was $350,000, compared with $212,000 across Minnesota, and construction was the most financed industry.
| # | Lender | Loans | Approved | Median loan | To startups |
|---|---|---|---|---|---|
| 1 | Huntington National Bank Bank · Columbus, OH | 6 | $1.3M | $35,000 | 33% |
| 2 | U.S. Bank Bank · Cincinnati, OH | 5 | $474K | $40,000 | 80% |
| 3 | Twin Cities-Metro Certified Development Certified development company · Vadnais Heights, MN | 3 | $3.7M | $1,630,000 | 33% |
| 4 | Nicolet National Bank Bank · Green Bay, WI | 3 | $2.6M | $986,000 | 0% |
| 5 | Live Oak Banking Bank · Wilmington, NC | 2 | $5.8M | $2,895,000 | 100% |
| 6 | WBD Certified development company · Madison, WI | 2 | $4.5M | $2,250,000 | 50% |
| 7 | Platinum Bank Bank · Oakdale, MN | 2 | $1.2M | $585,000 | 0% |
| 8 | Highland Bank Bank · St. Paul, MN | 2 | $900K | $450,000 | 0% |
| 9 | Hiawatha National Bank Bank · Hager City, WI | 2 | $84K | $42,000 | 0% |
| 10 | Lake Elmo Bank Bank · Lake Elmo, MN | 1 | $2.3M | $2,314,800 | 0% |
| 11 | 21st Century Bank Bank · Loretto, MN | 1 | $870K | $870,000 | 0% |
| 12 | Central Minnesota Development Certified development company · Andover, MN | 1 | $544K | $544,000 | 0% |
| 13 | Drake Bank Bank · St. Paul, MN | 1 | $350K | $350,000 | 0% |
| 14 | United Midwest Savings Bank Bank · Degraff, OH | 1 | $275K | $275,000 | 100% |
| 15 | Frandsen Bank and Trust Bank · Lonsdale, MN | 1 | $250K | $250,000 | 0% |
| Industry | Loans | Share | Median loan | Most active lender |
|---|---|---|---|---|
| Construction | 9 | $275,000 | Huntington National Bank | |
| Retail | 5 | $100,000 | Nicolet National Bank | |
| Arts, entertainment and recreation | 4 | $1,177,000 | Huntington National Bank | |
| Restaurants and hotels | 3 | $50,000 | Hiawatha National Bank | |
| Health care and social assistance | 3 | $1,744,000 | Live Oak Banking | |
| Other services (repair, personal care) | 3 | $350,000 | Platinum Bank | |
| Professional and technical services | 2 | $560,000 | Frandsen Bank and Trust | |
| Transportation and warehousing | 2 | $450,000 | Highland Bank |