Reliance Bank

This is a financial institution offering SBA loan programs and business financing solutions to support small and medium-sized enterprises in the region.

It's recommended to schedule an appointment, but walk-in consultations may be available during business hours.

Reliance Bank's lobby operates Monday through Friday, 9:00 AM to 5:00 PM. The drive-up window is open Monday through Friday, 8:00 AM to 5:30 PM, and Saturday 9:00 AM to 12:00 PM. Please confirm with the bank.

There are no fees for initial inquiries; application and processing fees may apply during the loan process.

This service is primarily available to local businesses and residents within the region, but eligibility depends on meeting loan criteria.

A minimum personal credit score of 640 is generally required for guarantors.

The underwriting process typically takes 2 to 4 weeks, depending on the completeness of the application and documentation.

Reliance Bank's drive-up window is open Saturday mornings from 9:00 AM to 12:00 PM; the lobby is closed weekends. Confirm full weekend service with the bank.

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

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

You can reach Reliance Bank by phone at (507) 331-2493 or online at reliancebankmn.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 Reliance Bank before relying on them.

Like most SBA lenders, Reliance 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 Reliance Bank directly which industries 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 Reliance Bank participates in SBA Express depends on its specific SBA lending authority. Contact Reliance 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. Reliance 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. Reliance Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Reliance 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 Reliance 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 Reliance 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 Reliance 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. Reliance Bank weighs this case by case under its own policy, so be upfront about your history and ask Reliance Bank how it evaluates prior bankruptcies.