Farmers and Merchants State Bank of Springfield

This is a community-focused bank offering small business financing, including SBA loans, to help entrepreneurs start and grow their businesses with personalized support and flexible terms.

It's recommended to schedule an appointment to meet with a loan officer, but walk-in consultations may also be available during business hours.

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

There are no fees for initial consultations; standard loan application and processing fees apply for approved loans.

This bank primarily serves local residents and small business owners within the Springfield area, though some services may be available to non-residents on a case-by-case basis.

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

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 of Springfield 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 of Springfield to confirm current weekend availability before you go.

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

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

You can reach Farmers and Merchants State Bank of Springfield by phone at (507) 723-4800 or online at fmb-ebank.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 Farmers and Merchants State Bank of Springfield before relying on them.

Based on its approved SBA loans, Farmers and Merchants State Bank of Springfield most often finances businesses in transportation & trucking and construction & contractors. This reflects Farmers and Merchants State Bank of Springfield'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 Farmers and Merchants State Bank of Springfield 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 Farmers and Merchants State Bank of Springfield participates in SBA Express depends on its specific SBA lending authority. Contact Farmers and Merchants State Bank of Springfield 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 of Springfield 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 of Springfield'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 of Springfield 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 of Springfield 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 of Springfield 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 of Springfield 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 of Springfield weighs this case by case under its own policy, so be upfront about your history and ask Farmers and Merchants State Bank of Springfield how it evaluates prior bankruptcies.