Small Business Loans in Minnesota: Comprehensive Financing Solutions | Security Bank & Trust Co.

Securing the right financing can make all the difference when starting or growing a business. Whether you're looking to expand operations, purchase equipment, or improve cash flow, Security Bank & Trust Company, ranked one of Minnesota's best banks, offers tailored small business loans in Minnesota to meet your specific needs.

We believe that Minnesota's entrepreneurial spirit is the backbone of our state's economic success. From the bustling tech startups in Minneapolis to the innovative manufacturing firms in Mankato, small businesses drive our local economy forward. At Security Bank & Trust Company, we understand that access to the right financing can transform a promising business idea into a thriving enterprise.

Why Choose Security Bank & Trust Company?

At Security Bank & Trust Company, we take pride in supporting Minnesota’s entrepreneurs with financial solutions that make a real impact. Here's why small and medium-sized business owners trust us:

• Personalized Loan Options: Our team works closely with you to understand your financial goals and tailor loan products accordingly.
• Competitive Interest Rates: As a community-focused Minnesota bank, we offer favorable rates to help you grow without financial strain.
• Fast & Simple Application Process: Our streamlined process ensures you get the funding you need without unnecessary delays.
• Local Expertise You Can Rely On: With deep roots in Minnesota, we understand the local economy and business landscape better than national banks. We don't change lending perspectives with the winds of the market, we focus on building a relationship and one that will be strengthen both parties to bridge the good and tough times. 

"Casa began its relationship with Security Bank & Trust Co. with the opening of its 4th location and first franchise, Edina-Centennial Lakes. Security was pivotal in the launch of this location, and of the franchise company. It has been a joy to work with each member of the local team on everything from financing to account setup."

Natalie Standridge Founder & CEO Casa de Corazón

Small Business Loan Options We Offer

Securing the right loan is more than just obtaining funds—it's about finding a financial partner who understands your unique business challenges and opportunities. Minnesota's diverse business landscape requires flexible, nuanced financing solutions that go beyond one-size-fits-all approaches. We offer a range of business loan options in Minnesota, designed to support various business goals and financial needs.

1. Minnesota Small Business Loans

Traditional small business loans remain the cornerstone of business financing. These versatile funding options provide:

• Lump-sum capital for significant investments
• Fixed repayment terms
• Competitive interest rates tailored to local businesses
• Flexibility for various business purposes, including:
  • Expansion and renovation
  • Equipment purchases
  • Working capital
  • Inventory management
  • Hiring and staff development

Outside of the bank, there are many supportive options with both local partners like the City of Minneapolis, City of St. Paul, or the Minnesota Department of Employment and Economic Development (MN Deed) . You can learn more about these small business loan options in our related post: The Ultimate Guide to Minnesota Business Loans. 

2. SBA Loans in MN

Our partnership with the Small Business Administration offers unique advantages for Minnesota entrepreneurs. Unlike other banks, our approach prioritizes your business first. We understand that, in some cases, conventional loans might be the best solution before pursuing an SBA loan. However, flexibility is key, and we carefully evaluate all available options based on your business's stage in its lifecycle.

SBA 7(a) Loans

• Loan amounts up to $5 million
• Lower down payment requirements
• Longer repayment terms
• Ideal for businesses with limited collateral
• Several different options under the SBA 7a loan program addresses the need for both small and larger businesses. 

SBA 504 Loans

• Specifically designed for major fixed asset purchases
• Typically used for:
  • Commercial real estate
  • Heavy machinery
  • Large-scale equipment investments
• Competitive, long-term fixed interest rates on the SBA portion of the SBA 504 loan. See the SBA 504 debenture rates history today. 

Related reading: What SBA Loans are available for Minnesota Businesses?

3. Business Line of Credit

Get access to funds when you need them most with a flexible credit line that helps you cover unexpected expenses or take advantage of growth opportunities.

A flexible financing solution that provides:

• Revolving credit access
• Only pay interest on funds used
• Quick access to capital for unexpected opportunities
• Helps manage cash flow fluctuations
• Ideal for seasonal businesses or companies with variable revenue streams

4. Equipment Financing

When considering equipment financing for your business, it’s important to understand the factors that lenders evaluate and how they influence the terms you may receive. Equipment financing can cover a single purchase or multiple pieces of equipment and vehicles under one loan, offering flexibility based on your business needs. Our equipment loans provide the capital needed to invest in your business. 

How to Qualify for a Business Loan in Minnesota

Securing a business loan from Security Bank & Trust Company is simple. To improve your chances of approval, follow these steps:

1. Prepare a solid business plan – Clearly outline how you plan to use the funds and your growth strategy.
2. Gather financial documents – Include tax returns, balance sheets, and profit/loss statements.
3. Maintain a good credit score – A strong credit profile increases your eligibility and improves loan terms.
4. Schedule a consultation – Our financial experts can help tailor a loan solution to your business needs.

Learn more in our Comprehensive Guide to Commercial Loan Applications.

Why We're the Best Minnesota Bank for Small Business Loans

At Security Bank & Trust Company, we pride ourselves on being more than just a lender—we’re your financial partner. Here’s what sets us apart from other Minnesota banks:

• Decades of Experience: We've been serving Minnesota businesses since 1935, offering deep financial insights and guidance.
• Community Commitment: As a local bank, we invest in our community’s success and understand the unique challenges facing Minnesota businesses. We're invested in our communities and give back with our time, treasure, and talent. 
• Flexible Loan Solutions: Whether you're a startup or an established business, we offer loans customized to your needs.
  

"Together with my wife, we have a few small businesses that we own so the personalized touch of a community bank was necessary in a banking relationship. Whether it be a quick turnaround response from Athina or having a direct line to the President Andy, we feel valued. " Aaron Eggert, Coalition9

Frequently Asked Questions (FAQs)

1. What can I use a small business loan for?
Our loans can be used for working capital, equipment purchases, inventory, hiring staff, and much more.

2. How long does it take to get approved for a loan?
Approval times vary, but our streamlined process ensures most applications are reviewed within a few business days.

3. Can I apply for a business loan if I have bad credit?
Yes, we offer loan options for businesses with diverse credit profiles. Our team will work with you to find the best solution.

4. What documents are needed to apply for a loan?
We've prepared a Commercial Loan Application checklist to make this process straight forward. Typically, you’ll need:

• Current financial statements
• Business and Guarantor tax returns
• Business plan
• Identification documents

Take the Next Step – Apply Today

Ready to grow your business with a trusted Minnesota bank? Security Bank & Trust Company is here to help with customized small business loan solutions designed to fuel your success.

Apply online now or visit one of our convenient branch locations across Minnesota to speak with a financial expert.