Frandsen Bank and Trust

This is a community-focused bank offering SBA loan programs, personal banking, and financial services tailored to small businesses and entrepreneurs in the region.

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

The bank operates from 9:00 AM to 5:00 PM, Monday through Friday, with extended hours by appointment.

There are no fees to visit the bank; however, loan applications and services may involve processing or service charges depending on the product.

This bank primarily serves residents and small businesses within the region but welcomes new clients who meet their lending criteria.

A minimum personal credit score of 640 is typically required for loan applicants and guarantors.

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

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

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

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

You can reach Frandsen Bank and Trust by phone at (651) 242-5700 or online at frandsencorporation.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 Frandsen Bank and Trust before relying on them.

Based on its approved SBA loans, Frandsen Bank and Trust most often finances businesses in construction & contractors, general retail, restaurants & food service, manufacturing, medical practices & clinics, and wholesale & distribution. This reflects Frandsen Bank and Trust'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 Frandsen Bank and Trust which sectors it actively lends to before you apply.

Frandsen Bank and Trust offers SBA Express, a streamlined 7(a) loan with faster approvals and quicker funding. Confirm current program availability and terms directly with their business lending team.

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. Frandsen Bank and Trust 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. Frandsen Bank and Trust's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Frandsen Bank and Trust 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 Frandsen Bank and Trust 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 Frandsen Bank and Trust 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 Frandsen Bank and Trust 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. Frandsen Bank and Trust weighs this case by case under its own policy, so be upfront about your history and ask Frandsen Bank and Trust how it evaluates prior bankruptcies.