Business Loan Products:
Our Commercial Lenders are available to help you with your loan needs. Contact us to start the application process in person or via a secured link.
Lines of Credit:
Revolving line of credit enables you to repay and re-borrow up to the maximum amount of the line of credit (Used for business operations or working capital)
Non-revolving line of credit allows the borrower access to funds up to a predetermined amount borrowed on multiple dates.
- Purchase or refinance new or used equipment
- Purchase inventory
- Seasonal loans
- Accounts receivable financing
- Purchase or existing commercial real estate
- Expansion or improving existing business
- Construction of new commercial building
- Refinancing existing commercial real estate
- Development loans
Letters of credit:
Offered to qualified borrowers to guarantee payments to a third party over a specific period of time.
Small Business Administration:
We have several loan options available through the Small Business Administration.
There are several loan options available through the SBA.
We look forward to working with you to determine which loan type is best for your business.
To understand you and your business we must become knowledgeable and familiar with the financial aspects of your business. Please be prepared to provide the following:
- Business Plan if acquiring a new business or major improvements to existing business
- Personal Financial Statement
- Three years of full personal tax returns
- Commercial Financial Statement
- Three years of full business tax returns
- Resolution stating authorized person(s) to borrow money unless DBA or individual
- Proof of your entity type (such as: Corporation, LLC, Partnership)
Our commercial lending team is available to help you get started. Contact us or call us at 507-332-7401 in Faribault and 952-204-1240 in Prior Lake.
Do not email personal information. All loans subject to credit approval.