Security State Bank of Aitkin

This is a local bank offering SBA loan programs and financial services tailored for small businesses in the Aitkin area and beyond. You can find assistance with loan applications, business planning, and financing options to support your growth goals.

It is recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-ins are also welcome during business hours.

The bank operates Monday through Friday from 9:00 AM to 5:00 PM, with additional hours by appointment.

There are no fees for visiting the bank; however, loan processing and service fees may apply depending on the specific financing arrangement.

This bank primarily serves local residents and small business owners, but eligibility for SBA loans is based on qualification criteria rather than residency alone.

A minimum personal credit score of 640 is generally preferred, though higher scores can improve loan approval chances.

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

Most banks keep weekday business hours and are closed on weekends, and Security State Bank of Aitkin 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 Security State Bank of Aitkin to confirm current weekend availability before you go.

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

The core details for Security State Bank of Aitkin — 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 Security State Bank of Aitkin before applying. If you represent Security State Bank of Aitkin, claim this listing to keep its information up to date.

Contact Security State Bank of Aitkin at (218) 927-3765 or via their contact form at ssbmn.com/discover-ssb/contact-us/contact-us.html to inquire about SBA lending — confirm details with the bank.

Based on its approved SBA loans, Security State Bank of Aitkin most often finances businesses in general retail and restaurants & food service. This reflects Security State Bank of Aitkin'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 Security State Bank of Aitkin 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 Security State Bank of Aitkin participates in SBA Express depends on its specific SBA lending authority. Contact Security State Bank of Aitkin 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. Security State Bank of Aitkin 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. Security State Bank of Aitkin's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Security State Bank of Aitkin 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 Security State Bank of Aitkin 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 Security State Bank of Aitkin 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 Security State Bank of Aitkin 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. Security State Bank of Aitkin weighs this case by case under its own policy, so be upfront about your history and ask Security State Bank of Aitkin how it evaluates prior bankruptcies.