Lake Elmo Bank

business loans
Lake Elmo Bank provides new or established business owners a full range of loan services and products to meet the needs of a growing business. Decisions are made quickly by experienced, local bankers who listen and provide a personal touch in knowing you and your business. 

• SBA Guaranteed Loans
• Working Capital Lines of Credit
• Accounts Receivable and Inventory Financing
• Equipment Loans
• Vehicle Purchases
• Acquisition and Development Loans
• Construction Loans
• Commercial Real Estate Loans
• Letter of Credit

Our experienced and knowledgeable lending officers take time to learn about your business, listen to your needs and develop a plan for you. We are a bank committed to our tradition of service. For the most efficient approval on your business loan, please provide three years of business and personal financial information (i.e. tax returns, balance sheet, personal financial information), as well as any specific information regarding the proposed transaction (i.e. property description).

checklist
Noted below are typical items necessary for us to become familiar with your business. The list is not meant to be all inclusive, but will provide us with a good starting point: 

• A description of your need or business plan (include two years of financial projections for loans over $100,000.00)
• A recent personal financial statement
• Three years of business and personal tax returns
• A most recent interim balance sheet and income statement

Other items that may be required, based upon the scope of the loan relationship, are as follows:

• Invoice copies of items being purchased
• List of aged account receivables/payables
• List of machinery and equipment reflecting market and book values
• Purchase agreement copy of property being purchased
• Rent roll and operating statements (three years) for income oriented property
• Appraisal of property to be purchased/built (bank must order)
• Environmental reports available on property being purchased

Pictured above:  Eric Graf, Tom Swedenburg and Lori Johnson

Eric Graf
egraf@lakeelmobank.com
Lake Elmo Office
651.773.4746

Tom Swedenburg
tswedenburg@lakeelmobank.com
Oakdale Office
651.748.2280

Lori Johnson
ljohnson@lakeelmobank.com
Stillwater Office
651.770.4411

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