North Star Bank

This is a community-focused bank offering SBA loan programs, business banking services, and financial advice tailored to small and medium-sized businesses in Minnesota.

It is recommended to schedule an appointment to ensure dedicated service, but walk-ins are also welcome during business hours.

The bank operates from 9:00 AM to 5:00 PM, Monday through Friday.

There are fees associated with loan processing and servicing, which vary depending on the specific loan product.

This bank primarily serves residents and businesses within Minnesota and the surrounding regions, but some services may be available to out-of-state clients.

A minimum personal credit score of 640 is generally required, though approval depends on overall financial strength and collateral.

The underwriting process typically takes between 30 to 45 days, depending on the completeness of the application and documentation provided.

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

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

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

North Star Bank can be reached by phone at (651) 489-8811 or via their contact form at https://www.northstarbank.com/contact-us/. For SBA loans specifically, ask for their business lending department.

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