I think the best thing to do is to bypass minicom when
downloading. Unfortunately, 'load elf' expects a raw binary
stream, not an x-modem negotiated transfer. Fortunately,
this makes it easy to bypass minicom, from a shell prompt
you can do this (even while minicom is running, after typing
'load elf')

cat new_lolo_image.elf > /dev/ttyS1

regards,
mt

You can also add another transfer method to minicom.

I added one called binary with the command "/bin/cat". All of the reset of the default protocol options are correct.

Thanks! Both of these methods work well.