Connect & Prequalification
The first thing you’ll do is connect with a Security banker to discuss your long-term business goals and some of the challenges you're facing today. After your discussion and document review, your banker will provide you with a general loan proposal outlining how much you may be eligible to borrow as well as what the next steps look like.
What to bring/expect: All due diligence documents to review with the banker. Not sure what to bring? Download this commercial loan checklist to get started.
Underwriting
During this phase, you’ll provide Security with a letter of intent, purchase contract, or more specific details on your loan request. Your banker will review the documents you’ve provided to validate the required information in order to get an approval decision. It is common during this phase for multiple questions and answer periods, depending on transaction complexity, to ensure that Security and you are structuring a transaction that meets your needs.
Credit Review
Your information will be provided to our credit team to ensure the loan package aligns with Security’s credit philosophy. After review, a formal term sheet is issued to you.
Closing
Once you’ve signed the commitment letter, the closing process starts. You’ll work with your banker to gather all the required documents to close and fund your loan.
Servicing
Once your loan is closed, we don't pass you off into a serving matrix. Your lender will stay with you and reach out regularly to check in, discuss insights as well as offer any potential business guidance. We’re always here to support your business needs!
About Security Bank & Trust
We've been around since 1935 so we've seen and experienced a lot over the years. One item that hasn't changed is our commitment to providing great rates, being personal and friendly, having great technology, and bringing banking to your doorstep. These are all ways we support our goal of Growing, together.
Minnesota is our home, so stop on in to one of our twenty-one locations, give us a call or schedule a time for us to come to you. We're flexible and willing to work on your schedule.
*Every banking relationship is unique. This is a generalized representation of the lending roadmap clients can expect with Security Bank & Trust Co., however, deviations can and do occur.
