Security Bank Minnesota

This is a local SBA lender offering small business loans, including the popular 7(a) program, with personalized support for entrepreneurs in the region.

Ask Security Bank Minnesota directly — some branches take walk-ins, others book SBA conversations by appointment.

Hours vary by branch and change. Check Security Bank Minnesota's website or call before you visit.

Browsing this directory is free. Any loan fees are set by Security Bank Minnesota and the SBA program — ask the lender for its current schedule.

This lender primarily serves local small business owners and residents in the Albert Lea region, but they also work with out-of-area clients on a case-by-case basis.

Many SBA lenders look for a personal score around 640 or higher, but each bank sets its own bar and it changes. Ask Security Bank Minnesota what it looks for today.

The underwriting process typically takes between 30 to 45 days, depending on the completeness of documentation and loan complexity.

Most bank SBA teams work weekdays; confirm with Security Bank Minnesota before planning a weekend visit.

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

The core details for Security Bank Minnesota — 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 Security Bank Minnesota before applying. If you represent Security Bank Minnesota, claim this listing to keep its information up to date.

You can reach Security Bank Minnesota by phone at (507) 373-1481 or online at www.securitybankmn.com — the same details are in the contact card on this page.

Based on its approved SBA loans, Security Bank Minnesota most often finances businesses in accounting & finance and transportation & trucking. This reflects Security Bank Minnesota's real SBA 7(a) and 504 lending history rather than a stated policy — it can still consider other industries and sets its own current preferences, so confirm with Security Bank Minnesota which sectors 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 Security Bank Minnesota participates in SBA Express depends on its specific SBA lending authority. Contact Security Bank Minnesota and ask if it offers SBA Express and what the current limits and terms look like for your situation.

Whether Security Bank Minnesota has SBA Preferred Lender (PLP) status is set by the SBA. Ask the bank directly; PLP lenders can approve in-house and often move faster.

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. Security Bank Minnesota's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Security Bank Minnesota 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 Security Bank Minnesota 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 Security Bank Minnesota 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 Security Bank Minnesota 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. Security Bank Minnesota weighs this case by case under its own policy, so be upfront about your history and ask Security Bank Minnesota how it evaluates prior bankruptcies.