CorTrust Bank National Association

This is a bank that provides SBA loan options and financial services for small businesses, helping them grow and succeed with tailored financing solutions.

It's recommended to schedule an appointment to ensure dedicated service, but walk-ins may be accommodated depending on availability.

The Mitchell, SD Havens Avenue branch of CorTrust Bank has lobby hours Monday-Friday 9:00 AM to 5:00 PM and drive-thru hours Monday-Friday 8:00 AM to 5:00 PM. Please confirm current hours directly with the branch at 605-996-7775.

There are no fees to access basic banking services; however, specific loan applications may involve standard processing fees.

This bank primarily serves local residents and small business owners within the region, but SBA loan programs are available nationwide.

A minimum personal credit score of 620 is generally preferred for loan approval, though other factors are also considered.

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

CorTrust Bank's Mitchell, SD location is open on Saturdays with drive-thru access from 9:00 AM to 12:00 PM. Please contact the branch to confirm weekend hours.

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

The core details for CorTrust Bank National Association — 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 CorTrust Bank National Association before applying. If you represent CorTrust Bank National Association, claim this listing to keep its information up to date.

You can reach CorTrust Bank National Association by phone at (605) 996-7775 or online at cortrustbank.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 CorTrust Bank National Association before relying on them.

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