Bonanza Valley State Bank

This is a community-focused bank offering SBA loan programs and personalized financial services for small businesses in Brooten, Minnesota.

It's recommended to schedule an appointment to ensure dedicated time with a lending specialist, but walk-ins are also welcome during business hours.

The bank operates Monday through Friday from 8:30 am to 4:30 pm, with additional hours by appointment.

There are no fees to visit or consult; fees may apply for loan processing and services based on specific transactions.

This bank primarily serves residents and small business owners within the community and surrounding regions.

A minimum personal credit score of 650 is generally preferred, though other factors are also considered.

The underwriting process typically takes 2 to 4 weeks, depending on the complexity of the loan application.

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

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

The core details for Bonanza Valley 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 Bonanza Valley State Bank before applying. If you represent Bonanza Valley State Bank, claim this listing to keep its information up to date.

Bonanza Valley State Bank can be reached by phone at (320) 346-2234 or by email at support@bvsb.bank. Confirm with the bank directly for SBA lending inquiries.

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