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You’ve got business goals and we’re here to help you reach them. The Bank of Elk River has many business financing options to help your business succeed. These aren’t just one size fits all solutions. Our lenders will come to you to learn about your business so they can provide a customized financial solution to fit your unique needs.

Quick Solutions For A Business Loan

Whether you’re interested in a Commercial Term Loan, Working Capital Loan, or Lines of Credit, our lenders will work with you to determine the best solution for your business and your budget. If you don't exactly know what you're looking for or what financing option would suit your business best, don't worry, we're here to help.

Lines of Credit at The Bank of Elk River
  • Pay interest only on the dollars you advance.
  • Access funds easily and securely.
  • Transfer and make payments online, by mobile app or by phone.
Commercial Term Loan from The Bank of Elk River
  • Loan terms can be tailored to meet your needs.
  • Fixed and variable rate term loans are available.
Commercial Real Estate Loans at The Bank of Elk River
  • Land acquisition and development
  • New construction
  • Purchase and refinance
  • Remodeling and expansions
  • Tenant improvements
Small Business Loans at The Bank of Elk River
  • 7(a) Loan Program
  • CAPLines Loan Program
  • SBA Express Loan Program
  • 504 Loan Program

Bank With The Best

When you partner with a business expert at The Bank of Elk River, an organization with a 135+ year history of successful business partnerships you also benefit from:

  • The relationship our loan experts will build with you to understand your business goals.
  • Our solid, local connections that help deliver the quick solutions that you need.
  • A customized package designed specifically for your business goals.

Meet Our Business Loan Experts

Neil Gagnon, Vice President Commercial Lending at The Bank of Elk River

Neil Gagnon

Vice President, Commercial Lending

Becky Moritz local business loan expert

Becky Moritz

Vice President, Commercial Lending

Rob Riedel, Vice President Commercial Lending at The Bank of Elk River

Rob Riedel

Vice President, Commercial Lending

Andy Meyer SBA Loan Manager

Andy Meyer

Assistant Vice President, SBA Loan Manager

Michelle Thatcher, Assistant Vice President Commercial Loan Officer at The Bank of Elk River

Michelle Thatcher

Assistant Vice President, Commercial Loan Officer

Dusty Bredlow, Vice President Commercial Lending at The Bank of Elk River

Dusty Bredlow

Vice President, Commercial Lending

Lynn Backlund, Business Deposit Specialist at The Bank of Elk River

Lynn Backlund

Business Specialist

Gina Artisensi-Skime, Business Development Officer for The Bank of Elk River

Gina Artisensi-Skime

Business Development Officer

Tom Lund Director of Commercial Lending at The Bank of Elk River

Tom Lund

Executive Vice President, Director of Commercial Lending

Get started today!

If you know what you're looking for and want to get started right away, complete the Loan Application. If you would prefer to speak to a lender first, click on Contact a Lender, or, give us a call at 763.441.1000.

At The Bank of Elk River, your partnership is more than a transaction – it's a relationship.

FAQs

  • How quickly can I get funding?

    At The Bank of Elk River, we have fast, local decision-making. We let you drive the timeline by how quickly you can gather and submit the required documentation.

  • How do I get the money?

    You have a few options to choose from; we can deposit the funds into your Bank of Elk River account, you can pick up a cashier’s check, have the funds wired, or we can mail them, whichever is most convenient for you.

  • How do I get started?

    Getting started is easy! First, gather your business and personal tax returns for the last two years. Second, contact one of our business loan experts to get the ball rolling.

  • What do your fees look like?

    There are no fees to get started. Depending on the funding option you choose different fees will be associated with them.

  • How does repayment work?

    Repayments can be made in a variety of ways depending on the funding product you chose.

  • Is there a pre-payment penalty?

    No. There are no pre-payment penalties on any of our business loans.