Lake Country Community Bank

This is a community-focused bank that offers SBA loans, including 7(a) and microloans, to support small business growth in Morristown, MN. They provide personalized guidance and flexible financing options tailored to your business needs.

It is recommended to schedule an appointment to ensure dedicated assistance, but walk-ins are also welcome during business hours. Calling ahead can help you prepare for a smooth application process.

The bank operates from 9:00 AM to 5:00 PM, Monday through Friday. It's best to confirm hours by contacting the branch directly before your visit.

There are no fees for simply visiting or consulting with the bank. Loan applications may involve fees such as processing or guarantee fees, which will be detailed during the application process.

This bank primarily serves residents and small business owners within the regional area, but they also welcome inquiries from new clients meeting their eligibility criteria.

Typically, a minimum personal credit score of 640 is preferred, though higher scores may improve loan terms and approval chances.

The underwriting process generally takes between 2 to 4 weeks, depending on the complexity of the loan and completeness of the application.

Most banks keep weekday business hours and are closed on weekends, and Lake Country Community 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 Lake Country Community Bank to confirm current weekend availability before you go.

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

The core details for Lake Country Community 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 Lake Country Community Bank before applying. If you represent Lake Country Community Bank, claim this listing to keep its information up to date.

You can reach Lake Country Community Bank by phone at (507) 685-2300 or online at lccbank.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 Lake Country Community Bank before relying on them.

Like most SBA lenders, Lake Country Community Bank can finance a broad range of small businesses — common categories include professional services, healthcare practices, restaurants and franchises, retail, light manufacturing, and commercial real estate. Each bank sets its own industry preferences and may avoid sectors it considers higher risk. Ask Lake Country Community Bank directly which industries 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 Lake Country Community Bank participates in SBA Express depends on its specific SBA lending authority. Contact Lake Country Community 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. Lake Country Community 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. Lake Country Community Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Lake Country Community 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 Lake Country Community 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 Lake Country Community 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 Lake Country Community 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. Lake Country Community Bank weighs this case by case under its own policy, so be upfront about your history and ask Lake Country Community Bank how it evaluates prior bankruptcies.