Gateway Bank

This is a local bank offering SBA loan programs and financial services tailored to small businesses in the Mendota Heights area. You can find support for business growth, expansion, and operational financing with personalized guidance from experienced lenders.

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

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

There are no fees to visit or consult at the branch; however, loan processing and application fees may apply depending on the services used.

This bank primarily serves local residents and small business owners in the Mendota Heights area, but business clients from surrounding regions may also be eligible.

A minimum personal credit score of 640 is generally preferred, though other factors may also be considered in the approval process.

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

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

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

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

You can reach Gateway Bank by phone at (651) 209-4800 or submit a contact form at gateway.bank/about/contact-us. For SBA loan details, confirm their products and programs directly with the bank.

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