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United Minnesota Bank

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Description

United Minnesota Bank offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth, expansion, or operational needs. With a focus on small business financing, the bank provides various SBA loan programs, including the popular 7(a) loan program, to help entrepreneurs access capital with flexible terms and competitive rates. Located in New London, MN, the bank specializes in serving local businesses but also supports regional economic development through its SBA offerings. Their experienced lending team guides clients through the application process, ensuring clarity and efficiency from start to finish. Whether you’re looking for working capital, equipment financing, or real estate loans, United Minnesota Bank is committed to helping small businesses succeed by providing personalized service and expert advice. The bank’s primary NAICS code, 236115, indicates a focus on commercial and institutional building construction, aligning with their strength in supporting construction-related projects. Their approval amounts can go up to $200,000, making them a solid choice for small to medium-sized business needs. Overall, they are dedicated to fostering local business growth and economic vitality through accessible SBA loan programs.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.9
Google Review Count
9
Question 1
What is this place and what can I find here?
Answer 1
This is a local bank offering SBA loan programs to support small business growth and development. You can find assistance with financing real estate, equipment, or working capital needs, along with expert guidance throughout the application process.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It is recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-ins may be accommodated depending on availability.
Question 3
What are the hours of operation?
Answer 3
The bank operates during regular business hours, typically Monday through Friday from 8:30 AM to 4:30 PM, but it’s best to call ahead for specific appointment times.
Question 4
Is there a fee to use this?
Answer 4
There are no fees to access basic consultation, but loan processing and closing fees may apply depending on the specific SBA loan product.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves local residents and small businesses within the region, but eligibility depends on meeting loan requirements and credit criteria.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
Typically, a minimum personal credit score of 650 is preferred, but stronger scores may improve loan approval chances.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process generally takes between 2 to 4 weeks, depending on the completeness of the application and documentation provided.
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