Upper Peninsula State Bank

This is a trusted SBA lender providing small business financing options, including SBA 7(a) loans, to help entrepreneurs grow and succeed in the local community.

It's recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-in consultations may also be available during business hours.

The bank operates from 9:00 AM to 5:00 PM, Monday through Friday. Appointments outside regular hours can be arranged upon request.

There are no fees to visit or consult with the bank; however, loan processing and closing may involve standard SBA fees and charges.

This lender primarily serves small business owners in the Escanaba region, but eligibility is based on creditworthiness and business criteria, not residency alone.

A minimum personal credit score of 620 is generally preferred for loan qualification, though other factors are also considered.

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

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

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

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

You can reach Upper Peninsula State Bank by phone at (906) 789-7000 or online at upstatebank.net — 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 Upper Peninsula State Bank before relying on them.

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