Prime Security Bank

This is a bank that offers small business loans, including SBA programs, to help entrepreneurs finance growth, real estate, and equipment needs. You can find personalized lending solutions tailored to your business goals and industry.

It's recommended to schedule an appointment to meet with a lending specialist, but walk-in consultations may be available during business hours. Calling ahead ensures dedicated time with a loan officer.

The bank operates from Monday to Friday, 8:30 AM to 4:30 PM. It's best to contact them directly for specific appointment times or after-hours services.

There are no fees to visit the bank; however, loan processing and application fees may apply depending on the financing options selected.

The bank primarily serves local residents and small business owners within Minnesota, but they may consider out-of-state applicants with strong business plans and credit profiles.

Typically, a minimum personal credit score of 640 is preferred, though higher scores improve the chances of approval.

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

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

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

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

You can reach Prime Security Bank by phone at (218) 436-2151 or online at primesecurity.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 Prime Security Bank before relying on them.

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