SBA Loans in Ely, MN

Explore recent SBA 7(a) and 504 lending activity in Ely. See which lenders are active, what industries are getting funded, and how much capital is flowing into local small businesses.

Browse all loans Find lenders in Ely

Total SBA loans

157

all programs

Approved $

$42.6M

last 24 months

Avg loan

$271K

median $245K

Active lenders

approved here

Jobs supported

1,714

cumulative

Loan activity map

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ELY · 157 LOANS

Top lenders in Ely

Highland Bank

Park State Bank

Stearns Bank National Association

Frandsen Bank and Trust

Wells Fargo Bank National Association

Midwest Business Finance Corporation

Top industries in Ely

Hotels (except Casino Hotels) and Motels

Recreational and Vacation Camps (except Campgrounds)

Full-Service Restaurants

Drinking Places (Alcoholic Beverages)

Other Heavy and Civil Engineering Construction

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Loan records · Ely, MN

157 records

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Borrower

Location

Program

Industry

Pillar Hospitality Group LLC Celtic Bank Corporation

Ely, MN

55731

$4,306,000

$478K

7(a)

Hotels (except Casino Hotels) and Motels

2026-01-30

ELY SENIOR HOUSING & SERVICES, LLC Twin Cities-Metro Certified Development Company

Ely, MN

55731

$1,913,000

$62K

504

Continuing Care Retirement Communities

2012-04-25

Jay N. Pohlman Park State Bank

Ely, MN

55731

$1,440,000

–

7(a)

All Other Consumer Goods Rental

2009-11-20

SAS DESIGN, INC.Highland Bank

Ely, MN

55731

$1,075,000

–

7(a)

Hotels (except Casino Hotels) and Motels

2002-02-25

Pond Enterprises LLC Amplio Economic Development Corporation

Ely, MN

55731

$1,069,000

$214K

504

Hotels (except Casino Hotels) and Motels

2022-01-20

CANADIAN WATERS INC Highland Bank

Ely, MN

55731

$1,062,600

–

7(a)

Sporting Goods Stores

1999-12-10

Pond Enterprises LLC Amplio Economic Development Corporation

Ely, MN

55731

$1,034,000

$94K

504

Hotels (except Casino Hotels) and Motels

2022-05-06

HOLIDAY INN SUN SPREE RESORT Midwest Business Finance Corporation

Ely, MN

55731

$952,000

$30K

504

–

1994-09-28

NORTHERNAIR LODGE Stearns Bank National Association

Ely, MN

55731

$940,000

$157K

7(a)

Hotels (except Casino Hotels) and Motels

2003-04-30

BIG LAKE WILDERNESS LODGE Stearns Bank National Association

Ely, MN

55731

$926,000

–

7(a)

Hotels (except Casino Hotels) and Motels

2003-06-17

Subway Readycap Lending, LLC

Ely, MN

55731

$746,000

$149K

7(a)

Limited-Service Restaurants

2024-08-27

Farm Lake, LLC Frandsen Bank and Trust

Ely, MN

55731

$728,000

$73K

7(a)

All Other Traveler Accommodation

2023-07-10

Wintergreen Design Wells Fargo Bank National Association

Ely, MN

55731

$694,000

$35K

7(a)

Other Cut and Sew Apparel Manufacturing

2009-04-27

SILVER RAPIDS LODGE Midwest Business Finance Corporation

Ely, MN

55731

$616,000

$28K

504

Hotels (except Casino Hotels) and Motels

2000-12-13

SILVER RAPIDS LODGE Midwest Business Finance Corporation

Ely, MN

55731

$609,000

$68K

504

Casino Hotels

2004-05-12

Properties Up North, Incorporated Park State Bank

Ely, MN

55731

$600,000

$200K

7(a)

Recreational and Vacation Camps (except Campgrounds)

2009-11-20

Little Long Lake, LLC Park State Bank

Ely, MN

55731

$580,000

$193K

7(a)

Recreational and Vacation Camps (except Campgrounds)

2009-09-10

BORDER LAKES WILDERNESS CANOE American National Bank of Minnesota

Ely, MN

55731

$571,844

–

7(a)

–

1999-02-01

MDJM Inc National Bank of Commerce

Ely, MN

55731

$570,000

$285K

7(a)

"Beer, Wine, and Liquor Stores"

2015-02-23

Properties Up North, Inc.Park State Bank

Ely, MN

55731

$565,000

$188K

7(a)

Recreational and Vacation Camps (except Campgrounds)

2010-05-21

NORTH COUNTRY LODGE Midwest Business Finance Corporation

Ely, MN

55731

$557,000

$62K

504

–

1999-02-01

Adventure Inn Twin Cities-Metro Certified Development Company

Ely, MN

55731

$547,000

$274K

504

Hotels (except Casino Hotels) and Motels

2021-04-12

Northwind Outdoor Recreation, Inc.Newtek Small Business Finance, Inc.

Ely, MN

55731

$518,000

$130K

7(a)

Other Heavy and Civil Engineering Construction

2011-04-13

OJIBWAY RESORT AND CAMPGROUND First Bank Elk River

Ely, MN

55731

$493,200

–

7(a)

Hotels (except Casino Hotels) and Motels

2002-08-21

Crystal Chopp, DDS, PLLC Frandsen Bank and Trust

Ely, MN

55731

$483,000

$27K

7(a)

Offices of Dentists

2020-09-21

Pillar Hospitality Group LLC

Ely, MN · 55731

$4,306,000

7(a)

Celtic Bank Corporation$478K/job · 2026-01-30

ELY SENIOR HOUSING & SERVICES, LLC

Ely, MN · 55731

$1,913,000

504

Twin Cities-Metro Certified Development Company$62K/job · 2012-04-25

Park State Bank2009-11-20

Highland Bank2002-02-25

Amplio Economic Development Corporation$214K/job · 2022-01-20

Highland Bank1999-12-10

Amplio Economic Development Corporation$94K/job · 2022-05-06

HOLIDAY INN SUN SPREE RESORT

Ely, MN · 55731

$952,000

504

Midwest Business Finance Corporation$30K/job · 1994-09-28

Stearns Bank National Association$157K/job · 2003-04-30

BIG LAKE WILDERNESS LODGE

Ely, MN · 55731

$926,000

7(a)

Stearns Bank National Association2003-06-17

Readycap Lending, LLC$149K/job · 2024-08-27

Frandsen Bank and Trust$73K/job · 2023-07-10

Wells Fargo Bank National Association$35K/job · 2009-04-27

Midwest Business Finance Corporation$28K/job · 2000-12-13

Midwest Business Finance Corporation$68K/job · 2004-05-12

Properties Up North, Incorporated

Ely, MN · 55731

$600,000

7(a)

Park State Bank$200K/job · 2009-11-20

Little Long Lake, LLC

Ely, MN · 55731

$580,000

7(a)

Park State Bank$193K/job · 2009-09-10

BORDER LAKES WILDERNESS CANOE

Ely, MN · 55731

$571,844

7(a)

American National Bank of Minnesota1999-02-01

National Bank of Commerce$285K/job · 2015-02-23

Properties Up North, Inc.

Ely, MN · 55731

$565,000

7(a)

Park State Bank$188K/job · 2010-05-21

Midwest Business Finance Corporation$62K/job · 1999-02-01

Twin Cities-Metro Certified Development Company$274K/job · 2021-04-12

Northwind Outdoor Recreation, Inc.

Ely, MN · 55731

$518,000

7(a)

Newtek Small Business Finance, Inc.$130K/job · 2011-04-13

OJIBWAY RESORT AND CAMPGROUND

Ely, MN · 55731

$493,200

7(a)

First Bank Elk River2002-08-21

Crystal Chopp, DDS, PLLC

Ely, MN · 55731

$483,000

7(a)

Frandsen Bank and Trust$27K/job · 2020-09-21

1–25 of 157

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