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BUSINESS LOAN PRODUCTS
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 Loans 
  • Purchase of 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 specified period of time. 
     
    CLICK HERE FOR THE COMMERCIAL LOAN PRODUCT SHEET 
     
     
    Small Business Administration Loans: 
     
    SBA 504 Loan 
    Provides businesses with long term, fixed-rate financing for major fixed assets, such as land and building. At least 10% is contributed by the borrower 
     
    SBA 7A Loan 
    Provides funds to existing or new businesses for almost any legitimate business purpose including the purchase of land, construction, machinery, equipment, inventory, and working capital 
     
    SBA Express Loan 
    Provides funds up to $350,000.00 exclusively  for business-related purposes such as (equipment purchases, working capital, improvement purchase, purchase inventory, working capital, leasehold improvements, land purchase, construct building, etc….) 
    CLICK HERE FOR THE SBA LOAN PRODUCT SHEET 


    The State Bank of Faribault believes the strength and economic health of our community is tied directly to the financial strength of local businesses.  As your banking partner we will commit every viable resource to supporting your business through our experience, our products and our services.  Our goal is to help growth in your business by personalized lending solutions to fit your business. 


    FDIC
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