Farmers and Merchants State Bank

This is a bank that offers SBA loan programs and financial services tailored to small businesses. You can find assistance with business loans, growth capital, and personalized banking support.

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 from 9:00 AM to 5:00 PM, Monday through Friday.

There are no fees for accessing banking services, but loan applications may include processing fees and closing costs.

This bank primarily serves residents and small business owners in the Winterset area and surrounding regions.

A minimum credit score of 620 is generally required for SBA loan qualification.

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

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

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

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

Contact Farmers and Merchants State Bank by phone at (515) 462-4242 or through their online contact form at fmstate.bank/contact-us. Please confirm details directly with the bank.

Like most SBA lenders, Farmers and Merchants State 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 Farmers and Merchants State 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 Farmers and Merchants State Bank participates in SBA Express depends on its specific SBA lending authority. Contact Farmers and Merchants 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. Farmers and Merchants 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. Farmers and Merchants State Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Farmers and Merchants 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 Farmers and Merchants 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 Farmers and Merchants 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 Farmers and Merchants 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. Farmers and Merchants State Bank weighs this case by case under its own policy, so be upfront about your history and ask Farmers and Merchants State Bank how it evaluates prior bankruptcies.