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.
 

Term Loans:

Short Term

  • Purchase or refinance new or used equipment
  • Purchase inventory
  • Seasonal loans
  • Accounts receivable financing
Long Term
  • 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.

Applications
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.

Do not email personal information. All loans subject to credit approval.
 
 
IMPORTANT INFORMATION ABOUT OPENING A LEGAL ENTITY ACCOUNT
Effective May 11, 2018, new rules under the Bank Secrecy Act will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats.
 
Each time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (name, address, date of birth, social security number as well as identification documents) for each individual that has beneficial ownership (25% or more) and one individual that has significant managerial control of the Legal Entity. 
 
If you are opening an account on behalf of a Legal Entity, you will be required to provide the appropriate documentation and to certify that this information is true and accurate to the best of your knowledge. 
 
We proudly support all efforts to protect and maintain the security of our customers and our country.