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Minnesota Lakes Bank

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Description

Offering comprehensive SBA lending services, Minnesota Lakes Bank specializes in providing small business financing solutions tailored to meet diverse needs. Whether you’re seeking funding for expansion, equipment purchase, or working capital, this bank offers flexible loan options under the SBA programs. With a focus on personalized service, they work closely with clients to understand their unique financial situations and guide them through the application process. Their expertise in SBA loans ensures a smooth experience, helping small businesses access the capital they need to grow and succeed. Located in Delano, MN, the bank leverages local knowledge and community ties to support regional economic development. They are committed to fostering entrepreneurship and supporting small business owners at every stage of their business journey.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.8
Google Review Count
13
Question 1
What is this place and what can I find here?
Answer 1
This is a bank that offers SBA loan programs and small business financing solutions, providing personalized guidance to help entrepreneurs access capital for growth and development.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It"s recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-in consultations may be available during business hours.
Question 3
What are the hours of operation?
Answer 3
The bank operates from 9:00 AM to 5:00 PM, Monday through Friday.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for initial consultations; loan application and closing fees may apply depending on the loan type.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves small business owners in the Delano area and surrounding regions, with a focus on local entrepreneurs.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 650 is generally preferred, though higher scores improve approval chances.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes 2 to 4 weeks, depending on the complexity of the loan and completeness of documentation.
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