Foresight Bank

This is a commercial bank that offers SBA loan programs and personalized banking services for small businesses. You can find support for business financing, growth strategies, and expert advice tailored to your needs. The bank specializes in helping local entrepreneurs access the funding they need to succeed.

It is recommended to schedule an appointment to ensure dedicated time with a banking specialist, but walk-ins are also welcome during business hours. Calling ahead can help you prepare and receive personalized assistance promptly.

Foresight Bank's lobby hours vary by location: Plainview operates Mon-Fri 8:00am-5:00pm, Rochester Mon-Fri 9:00am-5:00pm, and Eyota Mon-Fri 8:30am-5:30pm. Confirm specific hours with Foresight Bank, as they may adjust for holidays.

There are no fees for simply opening an account or consulting with the bank. Loan fees and interest rates vary depending on the loan product and terms, which will be clearly explained during the application process.

This bank primarily serves small business owners and entrepreneurs within its regional service area. While it focuses on local clients, some services may be available to non-residents depending on eligibility criteria.

A minimum personal credit score of 620 is generally preferred, though the final decision depends on the overall financial profile and business viability.

The underwriting process typically takes between 2 to 4 weeks, depending on the completeness of your application and the complexity of your financial situation.

Some Foresight Bank locations offer limited Saturday hours: Plainview drive-up 9:00am-12:00pm, Eyota lobby 9:00am-12:00pm, while Rochester is closed on weekends. Confirm with Foresight Bank for weekend availability.

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

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

You can reach Foresight Bank by phone at (507) 534-3131 or 1-800-443-8605 (toll-free), or online at foresight.bank. For SBA loans, ask for their business lending or SBA department. Confirm details with Foresight Bank.

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