Home State Bank

This is a local bank offering SBA loan programs and business financing solutions designed to help small and medium-sized businesses grow and succeed. You can find personalized support, expert guidance, and flexible loan options tailored to your business needs.

It's recommended to schedule an appointment to ensure dedicated time with a banking specialist, but walk-in consultations may also be available during business hours.

Home State Bank's lobby hours are generally Monday-Friday, 9:00 AM - 4:00 PM, with drive-up service extending to 5:00-5:30 PM depending on the branch. Confirm specific times for your location and any lunch closures with the bank.

There may be application and closing fees associated with SBA loans, but these are typically disclosed upfront and are competitive within the industry.

This bank primarily serves local residents and businesses within Minnesota, but they welcome inquiries from eligible small business owners seeking SBA financing.

A minimum personal credit score of around 650 is generally preferred, though the exact requirement may vary based on the loan and borrower profile.

The underwriting process typically takes between 30 to 60 days, depending on the complexity of the loan and completeness of the application.

Most banks keep weekday business hours and are closed on weekends, and Home State Bank typically follows the same pattern. SBA lending staff are generally reachable Monday through Friday. A few locations offer Saturday or by-appointment hours, so call Home State Bank to confirm current weekend availability before you go.

Home State Bank is located in Minnesota — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.

This page is an independent directory listing for Home State Bank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Home State Bank itself, which runs its own lending under its own ownership. If you work at Home State Bank, you can claim this listing from this page to manage it.

The core details for Home State Bank — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with Home State Bank before applying. If you represent Home State Bank, claim this listing to keep its information up to date.

You can reach Home State Bank by phone at (320) 593-2001 or online at hsbofmn.com — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with Home State Bank before relying on them.

Based on its approved SBA loans, Home State Bank most often finances businesses in restaurants & food service, manufacturing, automotive repair & services, general retail, and medical practices & clinics. This reflects Home State Bank's real SBA 7(a) and 504 lending history rather than a stated policy — it can still consider other industries and sets its own current preferences, so confirm with Home State Bank which sectors it actively lends to before you apply.

SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Home State Bank participates in SBA Express depends on its specific SBA lending authority. Contact Home State Bank and ask if it offers SBA Express and what the current limits and terms look like for your situation.

SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established banks hold PLP status, but it varies by institution. Home State Bank can confirm its current PLP standing — ask before you apply if speed matters to you.

The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. Home State Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Home State Bank directly whether it considers start-up loans.

For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask Home State Bank what down payment it expects for your specific commercial real estate purchase.

SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask Home State Bank to spell out any prepayment penalties before you sign.

SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with Home State Bank to confirm it qualifies and how to document it.

A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. Home State Bank weighs this case by case under its own policy, so be upfront about your history and ask Home State Bank how it evaluates prior bankruptcies.