Security State Bank of Hibbing

This is a community-focused bank offering SBA loan programs and financial services tailored to small businesses seeking funding and growth support.

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

The bank operates Monday through Friday from 8:30 AM to 5:00 PM, with extended hours by appointment.

Fees may apply for certain services and loan processing; specifics are discussed during the application process.

This bank primarily serves local residents and small businesses in the Hibbing area, but eligibility depends on meeting loan criteria.

A minimum personal credit score of 650 is generally required, though higher scores improve approval chances.

The process typically takes 30 to 45 days, depending on the completeness of documentation and loan complexity.

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

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

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

You can reach Security State Bank of Hibbing by phone at (218) 263-8855 or online at ssbhibbing.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 Security State Bank of Hibbing before relying on them.

Like most SBA lenders, Security State Bank of Hibbing 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 Security State Bank of Hibbing 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 Security State Bank of Hibbing participates in SBA Express depends on its specific SBA lending authority. Contact Security State Bank of Hibbing 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 Hibbing 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 Hibbing'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 Hibbing 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 Hibbing 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 Hibbing 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 Hibbing 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 Hibbing weighs this case by case under its own policy, so be upfront about your history and ask Security State Bank of Hibbing how it evaluates prior bankruptcies.