31 SBA loans worth $7.4M went to businesses in Zimmerman, MN between October 2021 and June 2026, from 16 lenders. Bank of Elk River made the most, 8 loans. The median loan was $140,000, compared with $212,000 across Minnesota, and construction was the most financed industry.
| # | Lender | Loans | Approved | Median loan | To startups |
|---|---|---|---|---|---|
| 1 | Bank of Elk River Bank · Elk River, MN | 8 | $1.4M | $81,900 | 25% |
| 2 | Falcon National Bank Bank · Foley, MN | 3 | $2.6M | $700,000 | 0% |
| 3 | BankVista Bank · Sartell, MN | 3 | $1.2M | $470,000 | 67% |
| 4 | Huntington National Bank Bank · Columbus, OH | 3 | $446K | $90,000 | 0% |
| 5 | First Bank & Trust Bank · Brookings, SD | 2 | $391K | $195,550 | 100% |
| 6 | Bravera Bank Bank · Dickinson, ND | 2 | $240K | $120,000 | 0% |
| 7 | Hiawatha National Bank Bank · Hager City, WI | 1 | $253K | $253,000 | 100% |
| 8 | Midwest Business Finance Certified development company · St. Cloud, MN | 1 | $208K | $208,000 | 0% |
| 9 | Choice Financial Group Bank · Fargo, ND | 1 | $200K | $200,000 | 0% |
| 10 | Minnwest Bank Bank · Redwood Falls, MN | 1 | $150K | $150,000 | 0% |
| 11 | MY CU Credit union · Bloomington, MN | 1 | $150K | $150,000 | 100% |
| 12 | CenTrust Bank, A Division of SmartBiz Bank Bank · Northbrook, IL | 1 | $100K | $100,000 | 0% |
| 13 | National Bank of Commerce Bank · Superior, WI | 1 | $27K | $27,000 | 100% |
| 14 | U.S. Bank Bank · Cincinnati, OH | 1 | $23K | $23,000 | 100% |
| 15 | Newtek Bank Bank · Miami, FL | 1 | $15K | $15,000 | 0% |
| Industry | Loans | Share | Median loan | Most active lender |
|---|---|---|---|---|
| Construction | 9 | $100,000 | Bank of Elk River | |
| Retail | 7 | $316,000 | Falcon National Bank | |
| Professional and technical services | 3 | $30,000 | Bank of Elk River | |
| Other services (repair, personal care) | 3 | $63,800 | Bank of Elk River | |
| Manufacturing | 3 | $187,200 | BankVista | |
| Transportation and warehousing | 2 | $201,500 | Minnwest Bank | |
| Administrative and support services | 1 | $100,000 | CenTrust Bank, A Division of SmartBiz Bank | |
| Health care and social assistance | 1 | $750,000 | Bank of Elk River |