Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Farmington, Minnesota Business Loan

 
Loan Census SBA Loan Info

Getting a business loan in Farmington, Minnesota seems challenging at first, but we're here to help you get started.

We wrote this article for small business proprietors in Farmington, Minnesota who are interested in getting a bank loan.

Local Farmington Lenders

Without further adieu, here's our list of small business banks in Farmington.

Small Business Bank Recent SBA Loans
Anchor Bank Farmington 13
Castle Rock Bank  
Premier Bank Minnesota 6
Premier Banks - Farmington Office  

Lenders for Farmington Businesses

Be sure to speak with bankers outside of Farmington, Minnesota. These banks, in the table below, have lent to other Farmington small business owners. In some cases, these large banks may have local bankers you can speak with regarding small business loans.

Small Business Bank Recent SBA Loans
American Savings, Inc.
New Prague, MN
1
Anchor Bank
Wayzata, MN
13
Anchor Bank Saint Paul
Saint Paul, MN
1
Associated Bank
Minneapolis, MN
1
Capital One
Mclean, VA
2
Castle Rock Bank
Castle Rock, MN
1
First Commercial Bank
Bloomington, MN
1
Innovative Bank
Oakland, CA
1
Merchants Bank
Apple Valley, MN
1
Merchants Bank
Hampton, MN
1
Park Midway Bank
Saint Paul, MN
1
Peoples Bank Of Commerce
Minneapolis, MN
1
Tcf National Bank
Wayzata, MN
1
U.S. Bank National Association
Cincinnati, OH
7
Wells Fargo Bank
San Jose, CA
5
Wells Fargo Bank
Sioux Falls, SD
1

Farmington Business Loan Advice

Borrowing money is one of the most common sources of funding for a small business, but getting a loan requires a fair amount of work.

It's always a good idea to talk to as many banks as possible.

When applying for a small business loan, you will find that some banks will not work with you and others will. Of those banks that will work with you, some will offer a better deal than others.

By talking to all of the local banks in your area, and even reaching out to some of the national banks, you will be sure to get very competitive loan terms.

Remember, before meeting with a banker, be sure to prepare your business profile, loan request details, collateral description, business financial statements and personal financial statements.

Gaebler.com Advice on Raising Money

If you are planning on Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review Attracting Investors.

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