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Business

SBA Loans

 

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Get a loan tailored to your small business needs. As an SBA Preferred Lender (and local bank), Minnwest Bank can streamline the SBA loan application process, fast-track approval times and provide quicker access to funding in order to help your business thrive. SBA guaranteed loans can greatly benefit small businesses needing capital for expansion, inventory, buildings, equipment, exporting, and other needs. Some of the most successful businesses in the country used SBA guaranteed loans in their infancy. Could you be the next SBA success story?

Minnwest Bank Paycheck Protection Program Statistics

Numbers accurate as of 10/2021

4,258 

Total Loan Applications

$48,157 

Average Loan Amount Requested

24,600

Number of Jobs Impacted

$205,052,810

Total Loan Amount Approved

 

Compare our SBA Loan Options Side-by-Side

Loan Type Uses Benefits Amounts

SBA 7(a) Loan

  • Start-up/Acquisitions
  • Export financing
  • Real estate purchase, expansions, renovations & new construction
  • Equipment purchase or refinance 
  • Business acquisition or partner buyout
  • Working capital
  • Up to 100% financing 
  • Up to 25 years, fully amortized 
  • Higher loan amounts
  • Lower down payments
  • Longer terms

Up to $5 million 

SBA 504 Loan

  • Real estate purchase or construction
  • Equipment purchase
  • Up to 90% financing 
  • Up to 25 years, fully amortized
  • Lower fixed rates

$250,000 up to $5 million

SBA Express

  • Revolving line of credit
  • Easy to use as a revolving line of credit
  • Flexible collateral requirements

Up to $350,000

Export Express

  • Revolving line of credit
  • Standby letters of credit
  • Easy to use as a revolving line of credit
  • Flexible collateral requirements
  • Term loans available for export related costs

Up to $500,000

CAPLines

  • Seasonal or short-term working capital needs
  • Revolving line of credit
  • Available to assist on large working capital lines

Up to $5 million

Top Minnesota Export Lender 

medal 

Minnwest Bank is proud to be recognized three consecutive years (2018, 2019, and 2021) by the Small Business Administration as the Top Export Lender in the state of Minnesota. Small businesses that need financing to export their product abroad often find that traditional lenders won't work with them. Minnwest has been able to assist several businesses with various Export Assistance products offered by the SBA. You can count on expert advise and guidance from our experienced team, along with competitive rates and flexible financing terms that fit your business's needs.

 

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