State Bank of Taunton

This is a trusted SBA lender offering small business loans, including SBA 7(a) financing, to support business growth and expansion in the local and regional areas.

It is recommended to schedule an appointment to ensure dedicated support, but walk-ins may be accommodated based on availability.

State Bank of Taunton's lobby operates Monday through Friday, 8:30 AM to 3:00 PM, with drive-up service 7:45 AM to 4:00 PM. Confirm current hours directly with the bank at (507) 872-6136.

There are no fees to access basic information; loan application fees and closing costs apply as per the loan agreement.

This lender primarily serves small business owners in Minnesota, but eligibility depends on meeting SBA and underwriting criteria.

A minimum personal credit score of 640 is generally preferred, though higher scores improve approval chances.

The process typically takes 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 State Bank of Taunton 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 State Bank of Taunton to confirm current weekend availability before you go.

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

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

You can reach State Bank of Taunton by phone at (507) 872-6136 or online at statebankoftaunton.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 State Bank of Taunton before relying on them.

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