The First National Bank of Cokato

This is a local bank offering SBA loan programs and small business financing solutions. You can find expert guidance, loan options, and personalized service to support your business growth.

It's recommended to schedule an appointment to ensure dedicated time with a loan specialist, but walk-ins are also welcome during business hours.

The First National Bank of Cokato's lobby is open Monday–Friday 8:00 AM to 5:00 PM, with drive-up service extending to 6:00 PM weekdays and Saturday 8:00 AM to noon. Confirm current hours with the bank directly.

There may be application and closing fees associated with loan processing, but consultation and initial inquiries are typically free.

This bank primarily serves local residents and small business owners in the Cokato area, but they may consider applicants from surrounding regions.

A minimum personal credit score of around 640 is generally preferred, but specific requirements may vary based on the loan type and applicant profile.

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

The First National Bank of Cokato's lobby is closed Saturdays, but drive-up service is available Saturday 8:00 AM to noon. Confirm weekend availability with the bank.

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

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

You can reach The First National Bank of Cokato by phone at (320) 286-2191 or online at fnbcokato.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 The First National Bank of Cokato before relying on them.

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