Laona State Bank
Laona State Bank is an active SBA lender in Wisconsin, a bank offering SBA-guaranteed small-business loans. Currently rated 4.0 stars across 4 Google reviews.
$3M
in SBA approvals since 2010
12
SBA loans funded
Restaurants & Food Service · Medical Practices & Clinics · Fitness & Recreation
Top industries financed
Source: U.S. SBA 7(a) & 504 FOIA loan-approval records (FY2010–present).
About Laona State Bank
Laona State Bank offers comprehensive SBA loan services tailored to meet the needs of small businesses in the Laona area. With a focus on supporting local entrepreneurs, the bank provides various financing options including SBA 7(a) loans, which are ideal for business expansion, working capital, and equipment purchases. Their experienced lending team guides clients through the application process, ensuring a smooth experience from start to finish. The bank's commitment to the community and personalized service makes it a trusted partner for small business owners seeking reliable funding solutions. Whether you're starting a new venture or expanding an existing business, Laona State Bank is dedicated to helping you achieve your financial goals with flexible terms and competitive rates. They also support microloans and other SBA programs, making them a versatile choice for diverse funding needs. Located conveniently at 5308 Beech St, the bank serves the local business community with a focus on fostering growth and economic development.
Common questions about Laona State Bank
What is this place and what can I find here?
This is a local bank that offers SBA loans, microloans, and other small business financing options. You can find personalized banking services designed to support small business growth and community development.
Do I need an appointment or can I walk in?
It is recommended to schedule an appointment to ensure dedicated time with a lending specialist, but walk-ins are also welcome during business hours.
What are the hours of operation?
Laona State Bank's lobby is open Monday through Friday from 8:30 AM to 4:00 PM, with the drive-thru extending to 5:00 PM. Please confirm current hours directly with Laona State Bank.
Is there a fee to use this?
There are no fees for initial consultations; loan fees and interest rates vary depending on the specific financing product.
Who is this open to — anyone, or only residents/members?
This bank primarily serves small business owners and residents within the Laona community and surrounding areas.
What minimum personal credit score does this bank look for in a guarantor?
A minimum personal credit score of 620 is generally required for SBA loan eligibility.
How long does the traditional underwriting process take from start to close?
The underwriting process typically takes between 30 to 45 days, depending on the complexity of the loan application.
Is this open on weekends?
Laona State Bank's main location does not offer weekend hours and is closed on Saturdays, though some other Laona State Bank branches have limited Saturday operations. Confirm with your specific branch.
How do I get there and where do I park?
Laona State Bank is located in Wisconsin — 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.
Who owns or operates this listing?
This page is an independent directory listing for Laona State Bank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Laona State Bank itself, which runs its own lending under its own ownership. If you work at Laona State Bank, you can claim this listing from this page to manage it.
How current is the information on this page?
The core details for Laona 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 Laona State Bank before applying. If you represent Laona State Bank, claim this listing to keep its information up to date.
How do I contact this listing directly?
You can reach Laona State Bank by phone at (715) 674-2911 or online at laonastatebank.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 Laona State Bank before relying on them.
What core industries does this commercial bank traditionally choose to finance?
Like most SBA lenders, Laona 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 Laona State Bank directly which industries it actively lends to before you apply.
Can I apply for an SBA Express line of credit at this branch?
SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Laona State Bank participates in SBA Express depends on its specific SBA lending authority. Contact Laona State Bank and ask if it offers SBA Express and what the current limits and terms look like for your situation.
Does this bank have Preferred Lender Provider status with the government?
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. Laona State Bank can confirm its current PLP standing — ask before you apply if speed matters to you.
Are start-up companies eligible for financing at this traditional institution?
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. Laona State Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Laona State Bank directly whether it considers start-up loans.
What are the typical down payment expectations for commercial real estate acquisitions?
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 Laona State Bank what down payment it expects for your specific commercial real estate purchase.
Does this bank impose prepayment penalties on short-term working capital facilities?
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 Laona State Bank to spell out any prepayment penalties before you sign.
Can I use loan proceeds from this bank to buy out an existing equity partner?
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 Laona State Bank to confirm it qualifies and how to document it.
Will historical personal bankruptcies automatically disqualify my loan application here?
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. Laona State Bank weighs this case by case under its own policy, so be upfront about your history and ask Laona State Bank how it evaluates prior bankruptcies.
